Industry News | July 14, 2008

TenX Ventures Acquires Sparling Instruments Inc.

Sparling Instruments Inc. (Seller) of El Monte, California, has been acquired by TenX Ventures, LLC (Buyer) of Pasadena, California.

Sparling Instruments was founded in 1912 and has manufactured propeller meters to measure water for irrigation, industrial, and municipal plants for over nine decades.

Gardiner & Rauen Inc., an investment banking services firm, initiated and acted as financial adviser to seller. Gardiner & Rauen Inc. was founded in 1977 and is one of greater Los Angeles' oldest boutique investment banking services firms. The firm performs search assignments for buy-out funds, private equity groups, and strategic buyers to include public companies and prepares business valuations. The firm represents Sellers in manufacturing, food processing, and beverage, packaging, consumer products, B2B, B2C, and value-added distributors.

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