In more than one instance the option indicated by Mirus’ analysis was not the one which would have led to the largest fee, but it was always the one which was demonstrated to be in the best long-term interests of the company’s shareholders.
- Allen L. Shulman, President, Interland
- Allen L. Shulman, President, Interland
Press Releases
Mirus Advises GiViDi USA On Sale To Saint-Gobain
08/26/2003 - Boston, Massachusetts
Mirus Securities announced today that it has advised GiViDi USA Inc., a manufacturer of woven glass fabrics, in the sale of substantially all of its business to Saint-Gobain. Saint-Gobain also signed a license agreement with GiViDi Italia S.p.A., the parent of GiViDi USA, for the use of certain manufacturing technology developed by the Company.
Based in Ridgeway, South Carolina, GiViDi USA Inc. was formed as a wholly-owned subsidiary of GiViDi Italia in 1997 and the Ridgeway plant was constructed to accelerate the worldwide commercialization of several new, patent-protected manufacturing and glass fabric innovations. In August of 1997, the Company opened the doors of the U.S. operations, immediately becoming a major supplier of rigid board fabric for electronics laminates used in the printed circuit board industry. The Company's glass fabrics can be produced in a wide variety of thicknesses, weights, weaves and finishes that are best suited to meet the unique requirements of the Company's electronic and industrial customers.
Saint-Gobain announced its intention to re-hire a number of employees at the Ridgeway facility that had been furloughed in recent months, and will manage the operation through its Technical Fabrics subsidiary, based in Niagara Falls, NY.
About Saint-Gobain Technical Fabrics:
Saint-Gobain Technical Fabrics specializes in the manufacture and sale of reinforcement fabrics and scrims (made of glass, polyester, aramid and carbon) for construction, engineered composites and industrial products. Saint-Gobain Technical Fabrics product applications can be found in the construction sector (reinforcement scrims for facade cladding, gypsum or cement panels), in the engineered composite sector (mesh for road repair and soil stabilisation, fabrics for aircraft parts and helicopter blades), and in the industrial equipment sector (fabrics for the reinforcement of abrasive grinding disks, carpet reinforcement and scrims for boat sails). Saint-Gobain Technical Fabrics combines both a weaving and a textile transformation company, each with over 50 years of experience, and each occupying the position of leader and expert in their respective markets which are advantageously complementary and global. For more information, visit http://www.saint-gobain-technical-fabrics.com/.
About RCW Mirus:
Based in Boston, MA and with clients throughout North America, Mirus provides investment banking solutions to middle-market corporations including merger advisory, recapitalizations and valuation services to entrepreneurs, private equity groups and corporate clients. Founded in 1987, Mirus has successfully completed a number of transactions for textile manufacturers and industrial product companies including GiViDi USA, Troy Mills, Sheffield Industries, and AMCEL Corporation. Information about the firm is available on Mirus' web site at www.merger.com.
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