Local company, YSI Incorporated, a leading supplier of water monitoring and testing products, yesterday announced that it is seeking a strategic partner to help the Company achieve its full potential in the dynamic markets it serves.
“For the past several years YSI has experienced strong growth and we see many opportunities to continue along that trajectory,” noted Rick Omlor, CEO and President. In 2010, the Company reached a significant milestone of $100 million in revenue. “In order to continue this level of growth the Company will need to continue to invest in new technology, additional international offices and more strategic acquisitions. Although YSI is a private Company, we have a very diversified shareholder structure. Over the past few years growing segments of our shareholders have begun seeking liquidity for their investment in YSI and we must consider the needs of the Company and the desires of our shareholders.”
“After careful consideration of all of our options, our Board of Directors has determined that we should seek a strategic partner for our Company. A partnership will give us the opportunity to continue our growth and allow us to fulfill our fiduciary responsibility to our shareholders.”
According to Omlor, “YSI’s Management and the Board are committed to moving through this transition in an orderly and controlled way. It is the Company’s intention to identify and negotiate with a strategic partner that will continue to provide opportunities for its people; and will continue to serve the customers to the level of YSI’s standards and their expectations. Additionally, it is YSI’s intention to work with the selected strategic partner to respect and maintain the Company’s legacy, culture and values and their contribution to the communities they serve.”
Founded in 1948, YSI is a leading developer and manufacturer of water monitoring and testing products. YSI has 370 employees in 22 locations serving customers throughout the world.
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Of course they want to sell! With the truth about to come out over the well contamination, that has been hidden for years, they should. (They, and anyone who worked there before this all became public, knows the truth). I just hope the buyer digs carefully into their financial records, and their history. It's not all buttons and bows.
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