Racal Instruments Group Holdings Inc. Announces Management-Led Leveraged Buyout -LBO- from Thales

Business Wire, Nov 7, 2001

Business Editors & High-Tech Writers

IRVINE, Calif.--(BUSINESS WIRE)--Nov. 7, 2001

Racal Instruments Group Holdings Inc. (RIG Holdings Inc.), a Delaware US company, announced the management-led LBO of all global operations of Racal Instruments Inc. (U.S.) and Thales Instruments Ltd. (U.K.) from Thales of France.

The LBO includes Racal Instruments' engineering, manufacturing, sales, and customer support facilities in the United States, United Kingdom, France, Germany, Italy, PRC, Hong Kong, Korea, and India.

"With the support of Thomas Weisel Capital Partners and J.F. Lehman & Company, Racal Instruments is now in a position to allow our experienced team to build on our 40-plus year heritage in the test & measurement community, with a specific emphasis on increasing our penetration of key markets," commented Gordon Taylor, president and CEO.

In addressing the leadership of the new company, he added: "I am delighted with the strength and depth of the organization we have created over the past few years.

"The expertise in two of our particularly exciting areas, led by Greg Maton, executive VP of Wireless Solutions, and Mark Minot, executive VP of Broadband and Photonics, means that Racal Instruments is now able to achieve its long-held objectives to significantly enhance its position in the global test equipment market."

About Racal Instruments

Racal Instruments, with more than 800 employees and sales of approximately $120 million, designs, manufactures, and sells electronic test and measurement equipment and systems to customers throughout the world. It has offices in the United States, United Kingdom, France, Germany, Italy, India, the PRC, Hong Kong, and Korea with a sales and support network in more than 80 countries.

The company offers an extensive range of products and services from standalone products for the wireless industry to complete turnkey automatic test systems for micro-computer production. Among the key market sectors the company serves are telecommunications, broadband & photonics, semiconductor, and defense.

For editorial information or further details on Racal Instruments, contact:

U.S. Contact: Jack Pouchet, marketing director, 4 Goodyear Street, Irvine, Calif. 92618

Tel: 949/460-6747; j.pouchet@racalate.com

U.K. Contact: Mike Janicki, publicity manager, 480 Bath Road, Burnham, Slough, Berkshire, SL1 6BE

Tel: 44 162-860-4455; mike.janicki@racalinst.co.uk