Barringer Laboratories Inc. retains The Nassau Group as exclusive investment banking advisor.GOLDEN, Colo.--(BUSINESS WIRE)--May 21, 1996--Barringer Laboratories Inc. of Golden, announced that it has entered into an exclusive arrangement with The Nassau Group Inc. of Westport, Conn., to provide the company with financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal and investment banking support over the course of the next two years. The Nassau Group will provide assistance in terms of evaluating strategic growth and acquisition opportunities, evaluating financing alternatives and helping to arrange for the company's future capital needs. Barringer Laboratories recently completed the buyback Buyback The buying back of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies will buyback shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may and retirement of approximately 30% of its outstanding stock, previously held by Barringer Technologies Inc. of New Jersey. Following this transaction, and the achievement of earnings of in excess of $557,000 in 1995, the company has developed a team comprised of both internal management and external advisors, to strategically evaluate expansion opportunities, and to guide the company's growth plans. "Hiring Nassau completes the formation of our strategic advisory team going forward," commented Bob Walker, president of Barringer. "I look forward to the role which The Nassau Group can play in the achievement of our objectives." The Nassau Group is an investment banking firm which specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in providing financial advice and merger and acquisition services to firms in the environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, industry. Individuals associated with Nassau have purchased approximately 13% of the company's common stock from other stockholders. In addition to the agreement mentioned above, such individuals were granted certain warrants to purchase up to 105,000 shares of the company's common stock. Finally, at least one representative of Nassau will be nominated nom·i·nate tr.v. nom·i·nat·ed, nom·i·nat·ing, nom·i·nates 1. To propose by name as a candidate, especially for election. 2. To designate or appoint to an office, responsibility, or honor. to serve on the board of directors of Barringer Laboratories Inc. Barringer Laboratories Inc. is a leading player in the growing environmental and mineral testing services business. Since 1961, the company has provided comprehensive analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. testing services to all aspects of the international minerals and mining industry. The company is one of the country's leading radiochemical testing facilities and is one of the largest providers of analytical testing services to the mining industry, ranging fom geochemical exploration services, through precious metal assaying to environmental remediation Generally, remediation means providing a remedy, so environmental remediation deals with the removal of pollution or contaminants from environmental media such as soil, groundwater, sediment, or surface water for the general protection of human health and the environment or from a of mining and mineral processing mineral processing or ore dressing Mechanical treatment of crude ores to separate the valuable minerals. Mineral processing was at first applied only to ores of precious metals but later came to be used to recover other metals and nonmetallic minerals. facilities. CONTACT: Barringer Laboratories Inc., Golden Robert H. Walker, 303/277-1687 Steve Maxwell, 303/442-4800 |
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