Vishay Precision Group, Inc. Acquires George Kelk Corporation
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Goodmans represented Vishay Precision Group, Inc. (“VPG”) (NYSE: VPG), a leading producer of precision sensors and systems, based on its resistive foil technology, in connection with its acquisition of George Kelk Corporation (“Kelk”), a privately held company specializing in the design and manufacture of electronic measurement equipment used mainly in steel and aluminum rolling mills, paper mills, and mining applications, with operations in Toronto, Canada and Shanghai, China, and a worldwide sales and distribution network.
VPG’s newly-formed Canadian subsidiary, Vishay Precision Group Canada ULC, acquired substantially all of the assets of Kelk for a purchase price of $50 million, subject to customary post-closing adjustments. The acquisition was significant to VPG in the implementation of its growth strategy. As a result of the transaction, VPG expects to deploy the “Kelk” brand name and technology to gain greater market share and customer recognition for VPG products on a global basis.