Press Releases

Davis Calibration Signs Purchase Agreement to Buy GE Instrumentation Services

BALTIMORE (April 12, 2006) – Davis Calibration Instruments, LLC, has signed a final purchase agreement with GE Consumer & Industrial to buy its Instrumentation Services unit – a calibration and repair operation based in Duluth, Ga., that serves more than 1,000 manufacturers throughout the country. Financial details were not disclosed. The sale is subject to the completion of all necessary transaction documentation and is expected to close in May.

“The acquisition of GE Instrumentation Services Business provides a unique platform for the execution of our strategic growth initiative,” said Davis Calibration President and CEO Lee Rudow. “Our combined companies will offer a broader scope of capabilities, more flexibility and the nation’s largest network of calibration laboratories through its 30 regional facilities,” he added.

GE Management stated, “This transaction aligns the Instrumentation Services operation with a strategic company that has metrology services as a core competency and a strong interest in investing and growing this type of business. We are pleased with the agreement and believe it gives the Instrumentation Services operation tremendous opportunity for growth and longevity in the future.”

Now that the acquisition is complete, GE Instrumentation Services will be know as GEIS.  The combination of of the two organizations will create the world’s largest calibration company -- the leading the industry with the largest range of testing capabilities and locations.  Together, the two organizations assume a superior industry profile, asset mix and highly valuable customer base.

• Over 4000 calibration customers and positioned to lead the industry in sustainable growth.
• Management focus on being the technology and quality leader.
• Ability to leverage geographic locations to provide solutions for national companies, addition of Davis’ product offering to allow further single source solutions.
• Management team committed to a smooth integration of companies with compatible cultures built on traditions of customer service and quality.
• A “best of” cautious approach to integration focused on benefiting customers.
• Merger will deliver operating cost and capital investment synergies.

About Davis Calibration Instruments
Davis Calibration Instruments is one of the world’s leading manufacturers and distributors of test, measurement and control instruments.  Founded in 1912, the company operates one of the largest networks of sales/service centers specializing in test, measurement and control instruments, providing unparalleled calibration and repair services. Davis Calibration Instruments is owned by JPB Enterprises, Inc. (JPBE), a privately-owned investment bank located in Columbia, Maryland.

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