We’re pleased to announce the sale of Pioneer Magnetics’ power supply business to United State Technologies-Aldetec Holdings Company (“UST-Aldetec”).
Area of Law: Business
ALG Represented: Selling Entity
Transaction Overview: This transaction was an opportunity to represent a truly remarkable 60 year old, Santa Monica-based family business that designs, manufactures and sells mission-critical power supply products to a global customer base.
Documents and Work: On behalf of our client, our firm led the legal work on the transaction from initial LOI through Closing. Like many family business sales, this transaction involved many stakeholders, and we coordinated our work with other attorneys retained to advise the shareholder’s family on matters related to the sale. Our work included negotiating, drafting or reviewing the following documents:
Transaction Type: M&A (Asset Purchase); middle-market, family-owned business
Year? End of calendar year 2017
Transaction Overview: This transaction was an opportunity to represent a truly remarkable 60 year old, Santa Monica-based family business that designs, manufactures and sells mission-critical power supply products to a global customer base.
Documents and Work: On behalf of our client, our firm led the legal work on the transaction from initial LOI through Closing. Like many family business sales, this transaction involved many stakeholders, and we coordinated our work with other attorneys retained to advise the shareholder’s family on matters related to the sale. Our work included negotiating, drafting or reviewing the following documents:
- Letter of intent
- Deal Memo
- Asset purchase Agreement
- Schedules
- Escrow Agreement
- Bill of Sale
- IP Assignment and Assumption Agreement
- Transition Services
About Pioneer Magnetics. Founded in 1957 by Dr. Allen B. Rosenstein, over the course of 60 years Pioneer Magnetics built a global business designing and manufacturing the highest quality switching power supplies. PMI’s power supply business offers low voltage and high current products ranging from < 1,000 Watts to > 30KW per box. COTS, isolated and non-isolated, intelligence as well as “thousands” of combinations, such as racks/power shelves, are available in standard and unique sizes.
About UST-Aldetec. UST-Aldetec is a consolidation of companies brought together to provide superior services and products to our Defense and Commercial customers. Together they are expert at RF detection, Frequency Conversion, Broadband Amplification, Power management, and repair/re-engineering of subsystems for obsolescence mitigation and extending system lifetime. UST-Aldetec teams can design, manufacture and support products seamlessly and rapidly. Their design turn averages less than 6 months from receiving a specification. Our goal is to provide high quality subsystems to our customers at an affordable price, and to keep them running with an exceptional MTBF. UST-Aldetec is a certified small business, AS-9100 certified with over 40,000 Square feet of manufacturing space.
About UST-Aldetec. UST-Aldetec is a consolidation of companies brought together to provide superior services and products to our Defense and Commercial customers. Together they are expert at RF detection, Frequency Conversion, Broadband Amplification, Power management, and repair/re-engineering of subsystems for obsolescence mitigation and extending system lifetime. UST-Aldetec teams can design, manufacture and support products seamlessly and rapidly. Their design turn averages less than 6 months from receiving a specification. Our goal is to provide high quality subsystems to our customers at an affordable price, and to keep them running with an exceptional MTBF. UST-Aldetec is a certified small business, AS-9100 certified with over 40,000 Square feet of manufacturing space.