BDO Capital Advisors Announces the Sale of Truetech to Luxfer

Boston, MA - July 31, 2014 - BDO Capital Advisors, LLC is pleased to announce that Truetech, Inc. and Innotech Products, Ltd. (collectively “Truetech” or the “Company”) have been acquired by Luxfer Holdings PLC (NYSE:LXFR) (“Luxfer”). As the exclusive financial advisor to Truetech, BDO Capital prepared a confidential offering memorandum, identified and contacted a targeted group of potential buyers and assisted management in structuring and negotiating the transaction.

Truetech and Innotech produce magnesium-based heating pads for self-heating meals used by the U.S. military and emergency relief agencies; an extensive line of self-heating meals, beverages and soups used by military and civilian end-users; chemical agent detection and decontamination kits; and seawater desalinization kits. Truetech operates a manufacturing and warehousing facility on a company-owned site in Riverhead, New York, and Innotech operates a leased product manufacturing, assembly and distribution facility in Cincinnati, Ohio. Joel Hockett, President and CEO of Truetech and Director of Innotech, said: “It was time for these businesses to become part of a global enterprise, and I look forward to seeing them develop within Luxfer Group.”

Luxfer is a global materials technology company specializing in the design and manufacture of high-performance materials, components and gas-containment devices for environmental, healthcare, protection and specialty end-markets. Luxfer customers include both end-users of its products and manufacturers that incorporate Luxfer products into finished goods. Luxfer will combine the businesses of Truetech and Innotech within Luxfer Magtech Inc. (LMI), a new wholly owned subsidiary of Luxfer Group. LMI will operate as part of Luxfer Group’s Elektron Division.

This transaction was overseen by President Bob Snape, Managing Director Kevin Sendlenski, Vice President Patrick Bisceglia and Analyst Lyndsay Ronan, all based in BDO Capital’s Boston office.
 

ABOUT BDO CAPITAL ADVISORS, LLC
BDO Capital Advisors, LLC is a leading middle market investment bank that focuses on mergers and acquisitions advisory, capital raising, and board advisory with offices located throughout the United States. The firm has deep industry knowledge, extensive cross-border transaction experience, and superior execution capabilities. BDO Capital Advisors, LLC provides sell-side and acquisition advisory, ESOP advisory, private placements, fairness opinions, and capital markets advisory. The firm has broad industry expertise and contacts having closed transactions within the Manufacturing & Distribution, Consumer, Food & Retail, Healthcare & Life Sciences, Business Services, Energy & Natural Resources, and Technology, Media & Telecom sectors. Our seasoned investment bankers have collectively advised on hundreds of transactions for a variety of clients including family-owned businesses, entrepreneur-led companies, public corporations, and leading private equity firms.

The firm has worldwide access to buyers, sellers, and offshore investors via the Corporate Finance practices of BDO International’s network of independent member firms which have been ranked collectively as a Top 5 global M&A midmarket advisor based on total deal volume announced in 2016, according to Thomson Reuters SDC. BDO International Corporate Finance firms operate in approximately 60 countries with over 2,000 professionals who are able to meet the investment banking needs of clients across the globe.