Mechanical Technology expands growth strategy following Brookstone investment
Mechanical Technology CEO Kevin Lynch commented, "Now that Brookstone and the company have been working together, we have put a framework on our acquisition based growth strategy to further utilize the significant net operating losses held by MTI. We are targeting for acquisition companies with the following key characteristics: $10M-$30M in annual revenues. $2M-$10M in EBITDA. Manufactures precision test and measurement sensors, instruments and systems used in automated manufacturing and assembly and consistent operation of complex machinery. Focus on aerospace, semiconductor, electronics, automotive and/or general industrial sectors. Activities in this regard are already underway and we look forward to seeing the results from the implementation of this strategy having a positive impact on our business capabilities and earnings capacity."