Hunter Wise Financial Group Initiates Acquisition of Fabrication Network, Inc. by Pinnacle Precision Sheet Metal Corporation; Advises Seller

Jun 28, 2010, 05:10 ET from Hunter Wise Financial Group, LLC

IRVINE, Calif., June 28 /PRNewswire/ -- Hunter Wise Financial Group, LLC, and Bill Owen, Managing Director, are pleased to announce that its client, Fabrication Network, Inc. ("FABNET") has been acquired by Anaheim-based Pinnacle Precision Sheet Metal ("Pinnacle").  

The transaction strengthens Pinnacle's machining capabilities, broadens its fabrication capabilities and adds an experienced workforce and further diversifies its customer base. For a period of time, the two companies will operate out of their respective facilities until they can consolidate into Pinnacle's recently acquired building which is currently being renovated.

"In acquiring FABNET as our business partner, we believe we have gained a partner to assist us in our goal of becoming Southern California's premier precision sheet metal fabrication and machining company," says David Oddo, Pinnacle's President.  "The added experience that their management team brings will position us as the economy recovers and demand increases."

Robert Denham, CEO of FABNET, noted that "Pinnacle represents the optimal merger partner for our company.  Joining forces with Pinnacle is the best strategic avenue for our company to quickly become stronger in serving our customers.  Our respective companies share a common vision, employee culture and business philosophy, which along with the proximity, will make the transition seamless."  

Hunter Wise Financial Group, LLC, is a specialized investment bank providing the highest quality level of corporate financing, merger, acquisition, divestiture and advisory services. The Company's clients include small to medium-sized public companies, as well as selected middle market privately-held businesses. Hunter Wise has 15 offices in the U.S. and offices in China, Canada and the United Kingdom.


Bill Owen, Managing Director

Hunter Wise Financial Group, LLC

(949) 732-4110

SOURCE Hunter Wise Financial Group, LLC