DJP Represents Dynatronics Corporation in $10MM Acquisition
On April 3, 2017, Dynatronics Corporation closed an acquisition of substantially all of the assets of Hausmann Industries, Inc. for $10.0 million in cash, subject to certain adjustments. The purchase price for the acquisition was funded through the sale of equity securities for gross proceeds of $7,795,000 and a credit facility entered into with Bank of the West. Hausmann Industries, Inc. is a manufacturer of branded, high quality physical therapy and athletic training products located in Northvale, New Jersey. D|J|P represented Dynatronics Corporation with respect to the sale of equity securities, the credit facility with Bank of the West and certain discrete matters on the acquisition.
D|J|P attorneys Wayne Swan and Rachael Ortiz worked on the sales of equity securities; Elisabeth Calvert handled the credit facility with Bank of the West; Joseph Hinckley assisted with Nasdaq regulatory matters; John Walch assisted with ERISA matters; and Paul Durham assisted with a lease of the New Jersey property.
Danatronics Corporation is a new high technology company specializing in the field of Non-Destructive Testing (NDT). Their mission is to provide the highest level of product innovation and quality as well as an outstanding level of customer satisfaction.