Metrisa acquired by Galvanic Applied Science
Boston, MA, Jul 03, 2003 – Mirus Securities announced today that it has advised Metrisa, Inc. in the sale of substantially all of its business to Galvanic Applied Sciences (TSX-V: GAV). “We believe that the Metrisa acquisition provides Galvanic with a strong beachhead in the area of in-line and on-line process instrumentation, greatly accelerating its long-term growth strategy of offering a suite of instrumentation for analyzing both gas and liquids across key vertical markets,” explained Peter Alternative, the Principal at Mirus Securities who managed the transaction. “The Metrisa acquisition will also broaden Galvanic’s customer base, contribute to the Company’s expertise in the area of optical detection, and add new distribution partners in Europe.”
Jack Wolfe, President and CEO of Metrisa, said, “This acquisition effectively supports the long-term strategy of each company. Mirus Securities assisted greatly in bringing our companies together, and with the strength of the combined company’s balance sheet, Metrisa will be better able to aggressively pursue several new growth opportunities.”
In a press release issued by the Company, Gerry Hipple, Galvanic’s CEO, stated that “the acquisition of Metrisa allows Galvanic to significantly expand its product offerings and increase global market opportunities through cross selling and expanded distribution.” Hipple went on to add that Metrisa brings with it additional product development capabilities, particularly in the areas of sampling and optical detection.”
Metrisa, Inc., headquartered in Bedford, Massachusetts, designs, develops, and manufactures a leading portfolio of instrumentation marketed under the Tytronics, Monitek, and Nametre brands. This suite of instrumentation is used for measuring the properties of a wide variety of liquids and certain gases for in-line and on-line process analytical and environmental monitoring applications.
About Galvanic Applied Sciences
Galvanic Applied Sciences Inc., is an innovative electronic technology company that develops instrumentation and manufactures equipment for the natural gas processing and electronic distribution market. Products include analyzers for sulfur and Btu measurement in gases and electronic volume correctors and recorders used in combination natural gas meters. The Company is currently traded under the ticker GAV on the TSX Venture Exchange.
About Mirus Securities
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 industrial instrumentation firms including Advanced Analytical, Interactive Video Systems (IVS), PMC-Beta, XRL, and Advanced Dielectric Technology. Information about the firm is available at www.merger.com.Back to Transactions