Titan Global Holdings to Sell Titan PCB East
Published: 02 June 2008
by Staff
RICHARDSON, TX - Titan Global Holdings has announced that Titan PCB East Inc., a company subsidiary, has reached a definitive agreement with a management led buy-out team Time Sensitive Circuits (TSC) to acquire all of the assets of Titan PCB East.
Denis McCarthy, an executive at Titan Electronics Group Division is the lead investor for TSC.
Under the terms of the agreement, TSC will assume or repay the Titan PCB East's debt and liabilities. Closing is anticipated within thirty days, and McCarthy will manage Titan PCB East in the interim.
"Given the size and focus required of East's business, we concluded that it was best served and owned by its management team. Denis is uniquely qualified to lead this effort." said Bryan Chance, president and CEO of Titan Global Holdings.
"This is an exciting event for our management led buy-out team, our customers, suppliers, and our loyal employees," said Denis McCarthy, president and CEO of Time Sensitive Circuits. "We are committed to the preservation of jobs in the Northeast and we will work hard to build a stronger business."
Under the terms of the agreement, TSC will assume or repay the Titan PCB East's debt and liabilities. Closing is anticipated within thirty days, and McCarthy will manage Titan PCB East in the interim.
"Given the size and focus required of East's business, we concluded that it was best served and owned by its management team. Denis is uniquely qualified to lead this effort." said Bryan Chance, president and CEO of Titan Global Holdings.
"This is an exciting event for our management led buy-out team, our customers, suppliers, and our loyal employees," said Denis McCarthy, president and CEO of Time Sensitive Circuits. "We are committed to the preservation of jobs in the Northeast and we will work hard to build a stronger business."
