EOS Recapitalization
Eos receives $35 million equity Infusion from Charterhouse Group International, Inc.
Kline Hawkes made its investment in Eos Corporation in July 1996. The Company, located in Camarillo, CA, is a leading manufacturer of power conversion products. In September, the Company received an infusion of capital through a recapitaization by Charterhouse Group International, Inc.
Excerpt from September 22, 1998 Press Release:
Eos Corporation, a leader in power conversion products, and Charterhouse Group International, Inc., a leader in private equity investing, announced today that Charterhouse has acquired a majority interest in Eos Corporation.
Michael Archer, President and Chief Technical Officer of Eos Corporation and one of its founders stated, "Eos has established a position as a provider of the highest density power adapters and power supplies in the market. The new financing provides a strong foundation for the further penetration of the market place with our leading edge technology. Eos is both well-positioned and well-equipped to take advantage of attractive opportunities in a fragmented and growing market place. We look forward to the partnership with Charterhouse."
Thomas V. Baker, Vice President and Chief Financial Officer of Eos stated, "The new capital will strengthen the Company's balance sheet by eliminating virtually all debt and providing a healthy free cash position."
George Sbordone, Charterhouse entrepreneur, stated, "Eos is a great addition to Charterhouse's companies in electronic components. Michael Archer is a recognized leader in power conversion technology. We are enthusiastic about working with Michael and his team."
Founded in 1991, Eos Corporation is headquartered in Camarillo, CA. The Company began as an R&D technology venture and has evolved and grown into a world-class designer, manufacturer and distributor of ultra-miniature, full-featured, high-density power supplies as well as notebook computer and electronic equipment power adapters. The Company's innovative application of technology results in products with efficiencies above 90 percent and power densities that are more than twice that of other top industry suppliers. Eos products are used by leading electronics firms including leading laptop computer manufacturers, point-of-sales terminals manufacturers, and communications equipment manufacturers. The Company employs over 200 people and has offices throughout the United States as well as Europe and Asia.