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CRU Acquisition Group, a company organized by Veber Partners has acquired Connector Resources Unlimited, Inc.
Portland, Oregon - December 11, 2002 - CRU Acquisition Group, LLC (CRUAG), a company organized by Veber Partners has completed the acquisition of Connector Resources Unlimited, Inc. (CRU), a leading supplier of security-oriented computer data storage products from Logitech International (NasdaqNM:LOGI). In addition to equity from and raised by Veber Partners, the acquisition was financed with a bank credit facility from Pacific Continental Bank.
Randal Barber, CRUAG’s president and chief executive officer commented: “We are pleased to complete this transaction and are very excited about the prospects of bringing CRU’s products to the forefront of the marketplace in this security-conscious age.” Mr. Barber was the founder and former CEO of Panelview, Inc., which was sold to White Electronic Designs in 2001.
About Connector Resources Unlimited, Inc.
CRU, headquartered in Vancouver , Washington , is a leading designer and marketer of mass storage devices for computer systems. The company’s product mix includes removable storage modules that accommodate a variety of storage media, all sold under the trade name DataPort, external drive enclosures, Redundant Array of Independent Disks (RAID) subsystems, and associated mounting kits, cabling, and hardware. CRU’s products ensure that data is kept extremely secure, as the enclosures can be separated from any type of personal computer or network server for safekeeping, thus preventing access to data by unauthorized users. CRU’s products are sold throughout North America by distributors such as Ingram Micro, Tech Data and D&H as well as through large OEMs such as Gateway and Micron and leading resellers such as Insight, GTSI, and MegaHaus, a premier direct marketer. Many branches of government, including the FBI, the CIA, and the Dept. of Defense, as well as numerous Fortune 500 companies rely on DataPort products. Since its founding, CRU has sold nearly 2,000,000 DataPort units into the marketplace. We invite you to visit the CRU web site at www.cru-dataport.com.
About Veber Partners, LLC
Veber Partners, LLC is an investment banking firm focused on advising Northwest-based emerging growth and middle-market companies in the areas of company sales, mergers & acquisitions, management buyouts, debt & equity capital placements, and other corporate finance related assignments. Veber Partners also actively engages in merchant banking activities, acting as a principal in the buyout of profitable middle-market companies by partnering with qualified management talent and private equity investors. Visit Veber Partners website at www.veber.com.
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