For Immediate Release:
20 May 2012 – GORHAM, MAINE USA
MEGA Industries/Ferrite Microwave Technologies – In Merger Talks
Mega Industries LLC (Mega), an Anania & Associates Investment Company LLC (AAI) portfolio company and a world leader in high power RF equipment, is pleased to announce the signing of a Memorandum of
Understanding (MOU) with Ferrite Microwave Technologies LLC (Ferrite) of Nashua, New Hampshire. The MOU outlines a proposed agreement to merge the companies, subject to finalizing the appropriate documents, forming a new entity.
The potential merger will not only create tremendous value and expanded opportunities for the merged company’s owners, but also their customers. Mega Industries presently produces RF solutions including Rigid waveguide, Semi-Flexible waveguide, Coaxial Transmission Line and the associated components for all three. It has developed a customer base and dealer/representative network spanning the globe. In a very similar way, but with minimal overlap, Ferrite also offers components into the same markets, having pioneered the design of high power microwave circulators, isolators, loads and industrial microwave systems.
“Mega’s planned merger with Ferrite’s components division will create an organization with a much more attractive product line.” says Mega’s CEO Peter Matthews, Ph.D. “I see this as a tremendous opportunity to strengthen our standing in the market by broadening the range of our product offerings. The ability to leverage the manufacturing capacity of Mega and augment our already strong engineering resources will allow the merged company to offer a more complete array of solutions to our customers. We believe will be able to do this more efficiently with quicker turnarounds and shorter lead times. This broadening of our product offerings will help fulfill our promise to deliver ‘RF Solutions’ to the markets we serve and create tremendous new opportunities for our representative network.”
The new RF components entity will locate its manufacturing operations in an expanded campus of buildings surrounding Mega’s current Gorham, Maine location. This will be the largest expansion of Mega’s facilities, adding a number of high quality jobs at this location, since purchasing Microwave Techniques, Inc., formerly located in Raymond, Maine twenty years ago.
In addition to this transaction, under the same MOU, Industrial Microwave Oven Services LLC (IMOS), another AAI portfolio company, proposes to be merged with the Systems Division of Ferrite and relocated to Nashua, NH. Mega Industries LLC is celebrating its 23rd year in business in 2012. Mega manufactures waveguide and coax components which allow Scientists and Engineers to create RF Systems for research, manufacturing and radar systems, including extreme high power and/or ultra-high vacuum needs. Mega currently operates from a 30,000 square foot facility specifically designed to accommodate the manufacturing requirements for these specialized