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FOR IMMEDIATE RELEASE JEFFERIES QUARTERDECK SERVES AS ADVISOR IN SALE OF PRIMUS INTERNATIONAL NEW YORK--(BUSINESS WIRE)--June 8, 2006-- Firm Also Arranges $120 Million Credit Facility for Leading Aerospace Parts Supplier, Marking the Firm's 23rd Aerospace and Defense Transaction in 2006 Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that its aerospace and defense investment banking group, Jefferies Quarterdeck, has served as M&A advisor for the sale of Primus International to Oak Hill Capital Partners, and as co-lead arranger for a $120 million senior secured credit facility used to partially fund the transaction. This represents Jefferies Quarterdeck's 23rd aerospace and defense investment banking transaction announced or completed during 2006. The credit facility was funded by Jefferies Finance LLC, a finance-company joint venture between Jefferies Group, Inc. and Massachusetts Mutual Life Insurance Company offering senior loans to middle-market and growth companies. Oak Hill Capital provided an undisclosed amount of additional cash equity. Primus is a leading supplier of structural components, kits and assemblies to the global aerospace industry, including such customers as The Boeing Company, Airbus S.A.S., Cessna Aircraft Company, and Embraer S.A. "Jefferies was able to deliver a seamless financial solution for our client that fully leveraged our expertise in aerospace and defense as well as our leading capabilities in leveraged finance," said Michael J. Richter, Co-President of Jefferies Quarterdeck. "Primus operates in one of the most sought-after sectors in the aerospace and defense universe due in part to the overwhelming strength of Boeing's commercial aircraft backlog. Given the enhanced earnings visibility associated with this rising backlog, we have entered a historically robust market for middle-market mergers and acquisitions in the aerospace and defense sector." Mr. Richter added, "Jefferies offered Primus unique industry insights, as well as financing muscle, and ultimately secured a positive outcome for both buyer and seller." About Jefferies Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for over 40 years. Headquartered in New York, with more than 25 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The Firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com). About Jefferies Quarterdeck Jefferies Quarterdeck, the aerospace and defense investment banking group of Jefferies & Company, Inc., is focused on providing a full range of investment banking services exclusively to growth and middle-market companies in the global aerospace, defense, federal IT and homeland security sectors. Jefferies Quarterdeck combines deep industry knowledge and M&A expertise with Jefferies' outstanding debt and equity financing, restructuring, trading and research capabilities. The firm's clients include top government contractors, aerospace and defense companies, leading homeland security companies, early stage security companies with promising technologies and private investment firms with related portfolio companies. In 2005, Jefferies Quarterdeck worked on 32 transactions valued at nearly $7 billion and the firm ranked was #1 in M&A in this area (ranking per Thomson Financial data). For more information, please visit www.jefferies.com/jq.
CONTACT: SOURCE: Jefferies & Company, Inc. |
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