EL SEGUNDO, CA, May, 29, 2009 - Wyle Holdings, Inc., one of the nation's leading providers of specialized engineering, professional, and information technology services to military and civilian government agencies, today announced that it has entered into a definitive merger agreement to be acquired by Court Square Capital Partners.
The transaction is subject to obtaining the consent of Wyle's first lien lenders and certain regulatory approvals. Littlejohn & Co. acquired Wyle in 2003 and made additional investments in 2005 and 2008 to significantly broaden the company's service offering and customer base. Additionally, Littlejohn recruited a world class management team, headed by CEO George R. Melton, to execute the company's growth strategy.
Today Wyle generates revenue of approximately $800 million and employs more than 3,800 people. Mr. Melton, said, 'We are very proud to have carefully executed the strategies that helped grow this company that was founded nearly 60 years ago. We thank our partners and the entire management team for their efforts and look forward to an era of further growth as a result of our new relationship with Court Square.'
About Wyle - Wyle is a leading provider of high tech aerospace engineering and information technology services to the federal government on long-term outsourcing contracts. The company also provides biomedical and engineering services for NASA's human space missions; test and evaluation of aircraft, weapon systems, networks, and other government assets; and other engineering services to the aerospace, defense and nuclear power industries.
About Court Square Court Square Capital Partners is a leading private equity firm that has been investing for more than 20 years in a wide variety of industries, and has committed over $4.5 billion in more than 150 transactions. The firm takes a generalist approach to investing yet it has specific and significant experience in the following sectors: business services, healthcare, industrials, media and publishing, and technology and telecommunications. Court Square currently manages approximately $6 billion of aggregate capital commitments.
About Littlejohn & Co. Littlejohn & Co. is a Greenwich, Connecticut-based control-oriented private equity firm seeking investment opportunities in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth and that can benefit from its operational and strategic approach. The firm's professionals manage three funds with committed capital of approximately $1.6 billion. The firm is currently investing from Littlejohn Fund III, L.P. which has $850 million in capital commitments.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334 Wyle News