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News Flash
Oakley signs agreement to acquire Eye Safety Systems
23 Nov '06
2 min read
"We are extremely proud of our military heritage and excited to combine a shared commitment to product research and development, advanced technology and excellent support for this important channel," said Erick Poston, military business unit manager, Oakley Inc.
"ESS enables us to create a much broader product and distribution platform capable of enhancing service to our existing customers and creating potential for future growth."
The acquisition's $110 million cash purchase price is subject to certain indemnities and post-close adjustments. Subject to customary closing conditions, the company expects the acquisition to be closed during the first half of 2007.
Upon closing, the company expects the acquisition to be immediately accretive and estimates a partial year contribution of approximately $30 million to sales and approximately $0.05 earnings per share in 2007.
Dondero will continue to lead the development and expansion of the business as its President.
"ESS enables us to create a much broader product and distribution platform capable of enhancing service to our existing customers and creating potential for future growth."
The acquisition's $110 million cash purchase price is subject to certain indemnities and post-close adjustments. Subject to customary closing conditions, the company expects the acquisition to be closed during the first half of 2007.
Upon closing, the company expects the acquisition to be immediately accretive and estimates a partial year contribution of approximately $30 million to sales and approximately $0.05 earnings per share in 2007.
Dondero will continue to lead the development and expansion of the business as its President.
Oakley Inc
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