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December 1, 2004
New Haven, Connecticut – Dec. 1, 2004 – Woodbridge, LLC., a leading Connecticut-based mergers and acquisitions firm, announces the successful sale of its client, ACG Dynamics Inc., an electro-dynamic shaker service company, to QualMark Corporation (OTCBB: QMRK). QualMark designs, manufactures and markets HALT (Highly Accelerated Life Testing) and HASS (Highly Accelerated Stress Screening) systems throughout the world.
“The acquisition of ACG strategically expands our total available vibration market to over $125 million, creates a global service organization for both companies, and reinforces QualMark’s market leadership as the reliability expert. ACG’s core business complements QualMark’s HALT and HASS technology to provide an overall customer reliability solution,” stated Charles D. Johnston, President and CEO of QualMark Corporation. “To ensure a smooth transition, Mr. Andrew C. Grimaldi, President of ACG Dynamics Inc. and Mr. Kenneth Keys, Vice President of Sales and Service will stay with ACG and work with QualMark Corporation to aid in the continuation and integration of the business,” concluded Charles Johnston.
“The ACG acquisition adds significant revenue to QualMark’s existing $12 million base business. The acquisition should also help stabilize QualMark’s cash flow significantly, as ACG’s service division represents a steady monthly business flow. We are excited to expand our business offerings to include ACG, as we will capitalize on the intensified exposure throughout primarily all test labs containing vibration equipment. This will allow QualMark to leverage ACG’s customer base to introduce HALT and HASS techniques to new customers and allow ACG to leverage QualMark’s extensive world-wide distribution network to rapidly expand their international presence,” stated Anthony A. Scalese, CFO of QualMark Corporation.
Woodbridge represented ACG Dynamics Inc. in the transaction. ACG Dynamics, headquartered in West Haven, Connecticut and founded in 1972 by Andrew C. Grimaldi, is a global supplier to the vibration test equipment markets, including service for electro-dynamic shakers.
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