Sypris Test & Measurement Acquires Davis Calibration

ORLANDO, Fla. and BALTIMORE, Jan. 4 /PRNewswire/ -- Sypris Test & Measurement (STM) and Davis Calibration today announced that STM completed the acquisition of Davis Calibration. Details of the transaction were not disclosed.

Founded in 1912, Davis Calibration is a leader in the calibration, repair and certification of test, measurement and control instruments. Davis serves its customers from 29 calibration laboratories located throughout the United States staffed with highly trained calibration experts and the calibration capabilities and capacity to meet the needs of virtually every industry. Prior to this transaction, Davis was owned by JPB Enterprises, Inc., a Columbia, Maryland-based private equity and advisory service firm.

STM is a wholly owned subsidiary of Tektronix, Inc. and is a leading provider of calibration services, testing and component sourcing services. The company serves customers in a variety of markets, including military, aerospace, avionics, telecommunications, automotive, semiconductor, medical and more.

"The addition of Davis Calibration to STM accelerates our expansion of the customer relationship through the entire product lifecycle by delivering a full suite of services and solutions across a wide range of products," stated Kathy Boyd, President, STM. "With their extensive multiple vendor support capabilities, Davis Calibration and STM will be leading providers of calibration and other advanced services, including complete outsourcing and asset optimization."

"Davis Calibration has been an important and valuable asset in our private equity portfolio since 1999," stated JPB Enterprises, Inc. Chief Executive Officer, J.P. Bolduc. "As the Company has evolved and grown, so too has its marketplace and the needs of its customers. We believe that the acquisition by STM completes the next step in the evolution of the business as Davis will be able to expand its capabilities and service offerings to new geographies (both domestically and internationally) as well as new industries."

About Sypris Test & Measurement

Sypris Test & Measurement, Inc. is a wholly owned subsidiary of Tektronix, Inc. and a leading provider of calibration services, testing and component sourcing services, and specialty products. The company serves customers in a variety of markets, including military, aerospace, avionics, telecommunications, automotive, semiconductor, medical and more. For additional information, visit www.sypristestandmeasurement.com.

About Davis Calibration

Davis Calibration is a leader in the calibration, repair and certification of test, measurement and control instruments. Since 1912, Davis Calibration has provided an evolving array of support services for test, measurement and control instrumentation.

Today, Davis Calibration has 29 calibration laboratories throughout the United States, staffed with highly trained experts and the calibration capabilities to meet the needs of virtually every industry. Davis Calibration laboratories are ISO-9001:2000 certified with a broadscope accreditation to ISO/IEC 17025. For additional information, visit www.daviscalibration.com.

About JPB Enterprises, Inc.

From business plan to exit plan, JPB Enterprises advises, counsels and supports families and entrepreneurs through the life-cycle and growth of an enterprise. Located in Columbia, Maryland, JPBE provides both investment capital and advisory services to lower-middle market companies and real estate owners/developers in and throughout the Mid-Atlantic and Southeast United States. Through its affiliated investment companies--JPB Capital Partners and JPB Real Estate Partners--JPBE provides equity capital for control investments in real estate and operating businesses. Through its affiliated service companies--JPB Accounting Services, The HR Team and Stronghold Advisors--JPBE provides outsourced accounting services, human resources services and mergers and acquisition advisory services. For additional information, visit www.jpbe.com.

SOURCE Sypris Test & Measurement, Inc.