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Andrew Satellite Communications Group becomes ASC Signal Corporation
GARNER, N.C.-(Business Wire)-January 31, 2008 - Today the former Andrew Satellite Communications Group, a global leader in communications ground equipment and solutions, has become ASC Signal Corporation. Resilience Capital Partners (Resilience), a Cleveland, Ohio based private equity firm, has concluded its purchase of the Andrew Satellite Communications Group from Andrew Corporation, a subsidiary of CommScope, Inc.
"Our new company claims a proud heritage of accomplishments as the former Andrew Satellite Communications Group," said Jude Panetta, CEO, ASC Signal Corporation. "Our focus is to build on these cornerstones and become a company that is more agile, entrepreneurial and customer driven—and with Resilience Capital Partners' strong financial support and synergies we will continue to be a leading competitive force in the industry."
The new company will continue operations from its current major facilities located in the United States, Canada, United Kingdom, Germany and select regional locations around the globe. Andrew will continue to own a minority share of the new company and provide certain transition support services to the new company.
"We view ASC Signal as an important player in the communications marketplace and are excited about the company's future," said Bassem Mansour, managing partner of Resilience Capital Partners. "This transaction marks an exciting new beginning for the employees, customers and vendors of ASC Signal. We look forward to providing support and guidance and, through Resilience's extensive corporate resources, we plan to grow their existing business in all market segments." -0- *T For more information, search the web at: www.ascsignal.com or contact: Bassem Mansour, Resilience Capital Partners +1 216-292-4748 *T
About ASC Signal Corporation
Formerly Andrew Satellite Communications, ASC Signal is a leading global manufacturer of antennas and RF electronics for enterprise and consumer satellite communication applications.
ASC Signal designed and built products cover C, Ku, K, X, and the emerging Ka band frequency platforms. The extensive range of products include type approved earth station antenna hubs and gateways for broadband and broadcast; complete VSAT Outdoor Units (antennas, transceiver electronics and installation mounts) for consumer broadband and enterprise networks providing the 'last mile" connectivity to customers for virtual private networks, Internet access and rural telecommunications; vehicle mounted communications-on-the-pause antenna solutions for disaster management and oil/gas exploration; tactical MilSatCom, Air Traffic Control and Weather Radar, HF and troposcatter antenna systems for government and defense applications; and DTH antennas and electronics for home satellite television entertainment systems.
In addition to hardware, ASC Signal provides solutions-based services such as turn-key system design, engineering, installation test and maintenance, product integration and program management. We also offer a variety of value-added services such as RF testing, custom fabrication, build-to-print capabilities, supply chain management and logistics.
About Resilience Capital Partners
Resilience Capital Partners is a private equity firm, with offices in Cleveland, Ohio and Detroit, Michigan, focused on investing in underperforming, turnaround situations and non-core divisions of larger corporations. Resilience's investment strategy is to acquire middle-market companies that have solid fundamental business prospects, but have suffered from a cyclical industry downturn, are under-capitalized, or have less than adequate management resources. Resilience typically acquires companies with revenues of $25 million to $250 million. Since its inception in 2001, Resilience has acquired 15 companies with combined revenues in excess of $1 billion.
