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HighBank serves as exclusive financial advisor to LORD Corporation on its acquisition of Stellar Technology, Inc.

March 6, 2014

HighBank Advisors (“HighBank”), a Baltimore, Maryland based middle market investment bank, announces that it was the exclusive financial advisor to LORD Corporation (“LORD”) on its acquisition of Stellar Technology, Inc. (“Stellar Technology” or the “Company”) a leading manufacturer of industrial transducers for pressure, load, force, torque and temperature measurement.  Terms of the transaction were not disclosed.  

The acquisition by LORD will position both companies for quicker technology commercialization across their respective markets. Additionally, the acquisition will allow LORD to leverage the innovative capabilities and the high value, custom designed solutions of Stellar Technology for further expansion into new markets and regions, with a particular emphasis on oil and gas.

“Stellar Technology will provide our customers additional value in the form of industry and application expertise and a proven history in providing solutions for critical sensing applications,” said Ed Auslander, president and CEO, LORD Corporation. “We are excited about this acquisition and the growth opportunities it brings.”

“We have been working closely with HighBank for several years on our North American sensing systems acquisition strategy.  The acquisition of Stellar Technology is an outcome of our work together.  Their insight, guidance and execution capabilities have been outstanding.  They are an important partner of ours,” said Mr. Auslander. 

Stephen Gaines, Managing Director, at HighBank stated, “We are excited to have worked closely with both LORD and Stellar Technology on this transaction.  We strongly believe the combination will deliver outstanding growth opportunities in both U.S. and international markets.  We look forward to our continuing efforts in the sensing systems market on behalf of LORD.”

About LORD Corporation

LORD Corporation is a diversified technology and manufacturing company developing highly reliable adhesives, coatings, motion management devices, and sensing technologies that significantly reduce risk and improve product performance. For nearly 90 years, LORD has worked in collaboration with our customers to provide innovative aerospace, defense, automotive and industrial solutions. With world headquarters in Cary, N.C. and 2012 revenues in excess of $860 million, LORD has more than 2,900 employees in 25 countries and operates 15 manufacturing facilities and nine R&D centers worldwide. LORD actively promotes STEM education and many other community engagement initiatives where we work and live. For more information, visit http://www.lord.com.

About Stellar Technology

Stellar Technology is a leading manufacturer of industrial transducers for pressure, load, force, torque and temperature measurement.  The company's locations include headquarters, engineering and manufacturing in Amherst, N.Y.; a sales and marketing center in Columbus, Ohio; and regional sales offices in Houston, Texas, Salt Lake City, Utah, and Cleveland, Ohio. Launched in 1991 with a focus on the aerospace market, Stellar Technology has expanded its business into multiple market sectors including oil and gas, transportation, general test and measurement, subsea, defense, alternative energy, pharmaceutical, and process industries.  For more information, visit http://www.stellartech.com.

About HighBank Advisors LLC

HighBank is a Baltimore, Maryland based full service mid-market investment bank and financial advisory firm.  The firm provides advice on mergers and acquisitions, raising capital, exit and transaction planning, business valuations, fairness and solvency opinions, loan workouts and debt restructurings, and distressed asset sales. HighBank was formed on a mission that our clients and our people deserve to have their highest expectations met and to receive higher value for their investments of money and time. For more information, visit www.highbank.com.

All investment banking services are provided by HighBank Securities LLC (“HBS”), a registered broker-dealer and member of FINRA www.finra.org and SIPC www.sipc.org .  HBS is a wholly-owned subsidiary of HighBank Advisors.