News Article
Solar investment will develop specialised technology
DLJ Merchant Banking Partners (DLJMB) has announced plans to make a significant investment in Specialized Technology Resources (STR or the Company).;;
DLJ Merchant Banking Partners (DLJMB) has announced plans to make a significant investment in Specialized Technology Resources (STR or the Company).Specialized Technology Resources has two main business divisions: STR Solar, which manufactures components for the solar power industry, and STR Quality Assurance, which provides consumer product quality assurance services to major consumer product retailers, manufacturers and importers."Specialised Technology Resources has a business model that is very attractive to us," said Steven Rattner, Global Head of DLJ Merchant Banking Partners. "Given the experience of DLJ's Global Industry Partners and Credit Suisse's solar and service industry expertise, we anticipate bringing significant value to STR as we go forward."STR's manufacturing division produces specialty products, generally referred to as encapsulants, used to protect the semiconductor circuits of solar modules. STR's quality assurance division focuses on providing consumer product testing, inspection and audit services that determine whether consumer products meet applicable safety, regulatory, quality and performance standards."STR has good potential for long-term growth," said Dennis Jilot, Chairman and Chief Executive Officer of STR. Our encapsulant manufacturing business serves a rapidly growing niche in the energy market and is well positioned to leverage global trends towards replacing fossil fuels with renewable sources of energy.""This transaction demonstrates how DLJ Merchant Banking Partners differentiates itself in the middle market," said Susan Schnabel, Managing Director in DLJ Merchant Banking Partners. "The sourcing, financing and due diligence of the deal were all facilitated by our affiliation with Credit Suisse."The deal is anticipated to close in June 2007.
