This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

UniTek Global Services Expands Fulfillment Business Through Acquisition Of Assets Of Skylink LTD

Transaction Adds Nine New Markets in Three States to Industry-Leading Platform

Expected to be Immediately Accretive to EBITDA 1 Margins and Net Income, While Improving Leverage Ratios

BLUE BELL, Pa., Sept. 13, 2012 (GLOBE NEWSWIRE) -- UniTek Global Services, Inc. ("UniTek" or the "Company") (Nasdaq:UNTK), a premier provider of permanently outsourced infrastructure services to the telecommunications, broadband cable, wireless, transportation, public safety and satellite television industries, today announced that its subsidiary, DirectSat USA, has agreed to acquire the assets of Skylink LTD ("Skylink"), a fulfillment installation services provider to DirecTV, the nation's largest satellite television provider, and ViaSat, a provider of innovative satellite broadband services. The transaction is expected to close on September 14, 2012.

The acquisition expands UniTek's satellite fulfillment presence into nine new markets in Ohio, Indiana and West Virginia, and enables the Company to leverage contiguous operations and its industry-leading fulfillment services platform for its largest customer. For the year ended December 31, 2011, Skylink generated revenue of approximately $31.2 million, with EBITDA 1 of $5.9 million. The Company expects EBITDA 1of the acquired business to exceed $7.0 million per year after eliminating certain redundant costs in the combined operations.

"We remain focused on continuing to develop our core markets and strengthening key customer relationships. This transaction allows us to realize operational efficiencies by implementing our industry-leading technology platform and performance-driven culture," said Rocky Romanella, Chief Executive Officer of UniTek, "The addition of these territories bridges DirectSat's operations in the East and Midwest regions, and helps position UniTek for further market share growth."

The maximum total consideration under the agreement is $23.5 million, which includes $14.0 million in cash at closing and earn-out payments up to $9.5 million, subject to achievement of certain performance milestones. The earn-out payments are expected to be $3.5 million payable in December 2012 and up to $6.0 million payable no later than May 31, 2013, with a minimum payment at that date of $4.0 million.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.16 -1.10%
FB $117.79 0.31%
GOOG $697.00 0.67%
YHOO $35.87 -0.39%
TSLA $226.82 -2.40%


Chart of I:DJI
DOW 17,662.16 -88.75 -0.50%
S&P 500 2,049.44 -13.93 -0.68%
NASDAQ 4,727.7830 -35.4410 -0.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs