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AEROSPACE/DEFENSE RETOOLING AND RESTRUCTURING GET A BOOST AS PUBLIC INTEREST MERCHANT BANKING FIRM OPENS WASHINGTON OFFICE

 LOS ANGELES, Oct. 20 /PRNewswire/ -- Quarterdeck Investment Partners Inc., a for-profit public interest merchant banking company based in Los Angeles which specializes in providing restructuring and venture capital for defense and aerospace business, has announced the opening of a Washington, D.C. office. According to Quarterdeck's founder and president, Jon B. Kutler, the company's success with its original concept in California through its California Technology Enterprise Corp. (CTEC) subsidiary, resulted in the extension of similar efforts nationally and internationally with the opening of its new office in Washington, D.C.
 The Washington office will be headed by T. Gail Dady, Quarterdeck's chief operating officer, formerly a commander in the United States Navy. Also for that office, Quarterdeck has added Harpreet S. Grewal as a vice president of the firm. Grewal, formerly an associate in the West Coast office of Wasserstein, Perella and Co. Inc. will focus on Quarterdeck's international business.
 Quarterdeck's first Washington office transaction involved the formation of a new Gainesville, Fla.-based company, SEESCAN, which will use anti-submarine warfare technology for seeing beneath the ocean floor. Its applications include, among other areas, off-shore environmental remediation, structural inspections and treasure hunting.
 Quarterdeck, founded as a result of a long-term planning process by the Los Angeles Economic Development Corp. and the Los Angeles County Aerospace Task Force in their efforts to address aerospace and defense conversion and restructuring issues, offers a private market solution to the complex problems arising from shrinking defense contracts. Heretofore defense conversion has solely consisted of attempts by major defense firms to diversify and government financial support for technology projects.
 Quarterdeck's senior management has significant expertise in defense conversion and the transfer of defense-based technologies to commercial applications. Founder and president Kutler was formerly managing director of Wasserstein Perella & Co. Inc., where he was responsible for its West Coast office and international aerospace and defense practice. In addition to the Washington office team, the senior management team includes Vice President Michael Lambert, formerly a partner in a consulting practice specializing in increasing the competitiveness of aerospace and commercial businesses.
 With an advisory board that includes major defense leaders such as Gen. John T. Chain Jr., USAF (Ret), and Adm. William Small, USN (Ret); corporate heads such as Richard Cook, vice president of Lockheed Corp., and Stephen Smith, retired president of Northrop Corp. Aircraft Division; and institutional leaders such as Milton Lohr, chairman of International Partnerships, formerly Deputy Undersecretary of Defense for acquisitions, and John Preston, director of Technology Transfer at MIT, Quarterdeck's partners seek to demonstrate the feasibility of a private market model for solving major economic dislocations that have adversely impacted the highly skilled employee base and industrial capacity of the aerospace and defense industries.
 The company's first California transaction was the acquisition of A&H International, formerly based in Honolulu and now relocated to Long Beach, Calif., whose present principal product, a child safety device dubbed BeeperKid, was developed through technology transfer from a Fortune 150 defense contractor.
 Quarterdeck believes that its unique team and contrarian focus will permit it to achieve superior financial returns for investors while at the same time assist local economies by acting as a catalyst for appropriate restructuring of the industry.
 -0- 10/20/93
 /CONTACT: John Kutler (company contact), 310-553-8312; or Stefan Pollack (media contact), 310-556-4443/


CO: Quarterdeck Investment Partners Inc. ST: California, District of Columbia IN: FIN SU: PDT

JB-JL -- LA001 -- 4414 10/20/93 09:14 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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