Industrials, Technology | Corporate Finance Advisory, Mergers & Acquisitions

IFR Systems Acquired by Aeroflex

  • IFR Systems, Inc. (NASDAQ: IFRS) produces test and measurement systems for telecommunications and avionics markets
  • IFR was in default on $84 million of senior debt and retained TM Capital to pursue strategic and financial alternatives to restructure debt and enhance shareholder value
  • TM Capital arranged the sale of IFR to Aeroflex Inc. (NASDAQ: ARXX) for $60 million in cash and negotiated an agreement providing for the retirement of all senior debt for $49 million in cash
  • This agreement enabled Aeroflex to complete a tender offer providing a cash premium to IFR’s stockholders
  • TM Capital also provided a fairness opinion in connection with the tender offer

See Press Release

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