Continental’s Parent Company Finds Buyer

The parent company of Continental Electronics Corp. – Tech-Sym Corp.- has found a willing buyer. New York based investment firm Veritas Capital Fund L.P. has agreed to buy Tech-Sym for $182 million in cash. The deal values Tech-Sym at $30 a share. Veritas Capital said it expects no changes in management or employment will occur as a result of the acquisition. Subject to regulatory and Tech-Sym shareholder approval, the deal is expected to close in the third quarter.
Leslie Stimson