Mergers & Acquisitions

Original Press Release

KLD, an Affiliate of Tara Technologies, Acquires Precision Coat, a Leading High-Performance Thermal Coating Company

Press release date: Feb 04, 2009

KLD, an affiliate of Tara located in Daytona Beach, Florida, is pleased to announce the acquisition of Precision Coat Corporation. KLD and Tara Technologies are both wholly owned subsidiaries of Best Holdings, Inc.

Precision Coat is a leading service provider for high performance coatings and specialized heat treatment for the Industrial Gas Turbine and General Industrial markets. "This acquisition is a perfect fit for KLD, as Precision Coat's world-class thermal spray capabilities compliments our surface technologies processing portfolio and more importantly fill a need across our key market segments - including Aerospace, Oil & Gas and Industrial markets." said Bob Panza, Director of Sales & Marketing of Tara Technologies. "Precision Coat has a strong reputation for repeatable, reliable coatings and at a highly competitive cost with lightning fast lead-times - this makes a win/win situation for and KLD and Tara's customers".

Precision Coat was acquired in the Fourth Quarter of 2008 and will operate under the KLD Quality Systems and corporate identity. To assure continuity of quality and support, the principals of Precision Coat - Phil Manzi Sr. and Phil Manzi Jr. - will continue to operate and drive the integration and transition of the business.

Phil Manzi, Jr stated that "The expertise and product portfolio of KLD and Tara provide the ideal growth platform for us to rapidly expand Precision Coat's capabilities to the next level in order to further improve our world-class service for our customers. We are thrilled with the new partnership and the prospects to grow with our customers."

The transaction allows KLD to move up the value chain in regard to servicing its customers, as well as those of Tara Technologies. KLD's fully integrated material processing (machining, welding, grinding, integration, inspection/testing) brings a new level of support to the Precision Coat's thermal spray product offerings which we expect will be well received by our customer base.

"We are excited about the addition of the Precision Coat family to KLD. Our similar cultures, missions and values will allow us to create a smooth and deliberate integration process to combine the best of our companies," said Colm Lanigan, CEO of Tara Technologies. "During the integration, we will continue to offer best-in-class customer service with a seamless integration."

KLD provides machining, inspection, and assembly services for the Aerospace, Semiconductor, and Industrial markets. Tara Technologies designs manufactures and tests components and systems used in critical applications for the world's leading manufacturers in the Semiconductor, Aerospace, Military, Energy, Industrial and Medical markets. KLD and Tara are both headquartered in Daytona Beach, Florida, with manufacturing facilities in Florida. Tara also has facilities in California, and Singapore; and sales offices and distribution network across the US and worldwide.

Sales & Marketing Contact: Bob Panza
(386) 366-4481