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Graham Holdings Acquires Joyce/Dayton Corp.

Stocks in this article: GHC

Graham Holdings Company (NYSE: GHC) today announced it has acquired Joyce/Dayton Corp., a Dayton, OH-based manufacturer of screw jacks and other linear motion systems. Michael Harris, president, and the Joyce/Dayton management team will continue to run the business. The purchase price was not disclosed.

Joyce/Dayton Corp. ( JoyceDayton.com) was founded by Jacob Joyce in 1873, when he began manufacturing an improved track jack for the growing railroad industry. The company has focused on its current product lines for about 50 years, and its products are incorporated into equipment used in solar energy generation, satellite antennas and natural gas fracking.

Donald E. Graham, chairman and chief executive officer of Graham Holdings, said: “Our acquisition of Joyce/Dayton Corp. is part of Graham Holdings’ ongoing strategy of investing in companies with demonstrated earnings potential and strong management teams attracted to our long-term investment horizon. Joyce/Dayton is a small acquisition that fits with our decentralized operating philosophy. We are a diverse group of businesses sharing common goals and values but each with its own identity and workplace culture, and with management responsible for its operations.”

About Graham Holdings Company ( www.ghco.com)

Graham Holdings Company (NYSE: GHC) is a diversified education and media company whose principal operations include educational services, television broadcasting, cable systems and online, print and local TV news. The Company owns Kaplan, a leading global provider of educational services; Post–Newsweek Stations (WDIV–Detroit, KPRC–Houston, WPLG–Miami, WKMG–Orlando, KSAT–San Antonio, WJXT–Jacksonville); Cable ONE, serving small-city subscribers in 19 midwestern, western and southern states; The Slate Group (Slate, Slate V, TheRoot); and Foreign Policy. The Company also owns Trove, a digital team focused on innovation and experimentation with emerging technologies; SocialCode, a leading social marketing solutions company; Celtic Healthcare; and Forney Corporation.



Copyright Business Wire 2010

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