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CUI Global, Inc. Announces Intent To Acquire Privately Owned Natural Gas Technology Company Orbital-UK For 17.0 Million Pounds Sterling

Stocks in this article: CUI

"This transaction effectively positions CUI Global for even more accelerated growth," explained Clough. "Orbital-UK's talent base of technical employees and their world-class engineering and support team, not to mention their sterling reputation within the natural gas industry, will enable us to speed market adoption of our Vergence GasPT2 device; while CUI Global's established network of global distributors will allow Orbital-UK to market its broad portfolio of natural gas products to a much larger audience."

"This is a very significant company milestone for Orbital," explained Orbital-UK's managing director, Andy Ridge. "With the combination of these two companies we will now be able to expand our programs and services for our existing customer base, as well as pursue growth opportunities across a much broader market.  As part of a global entity, we expect enhanced visibility in the market and heightened awareness for our company offerings.  Further, the addition of the Vergence GasPT2 technology to our current product line is expected to increase our ability to penetrate new markets and thereby grow our core business."

Since it was formed in 1984, Orbital-UK has focused its attention on providing superior customer service, advanced technology solutions and a dedication to product quality unequaled in the natural gas industry.  Orbital-UK's customers, including National Grid (the national gas transmission company for the UK), all of the UK's Gas distribution networks, and others such as Jaguar Motor Cars, BMW, and more, have come to rely on its team of talented and knowledgeable employees for crucial engineering support and specialized knowledge.  Its value-added services and innovative products reduce the time it takes to identify, design and begin cost effective delivery of new technology to the natural gas and other industries.

"The acquisition of Orbital-UK, with the associated increase in revenues and earnings, and the dramatic increase in our ability to penetrate the natural gas market, while capturing even more operational margin, all combine to further our strategy of making opportunistic, synergistic acquisitions of either technology, personnel, or companies that will increase our growth and, thereby, enhance our shareholder value – this transaction certainly encapsulates all of those positive elements," Clough concluded.

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