Economic News

Blumberg Advisory Group Fostered Global Iron Holdings Acquisition of Halifax Corporation of Virginia

Michael Blumberg, president and CEO of Blumberg Advisory Group, Inc again advanced the IT service and support industry as he sparked the conversations and negotiations leading to the recent acquisition of Halifax Corporation of Virginia by Global Iron Holdings, LLC, an affiliate of Global Equity Capital, LLC. The transaction involved the merger of Halifax with a subsidiary of Global Iron. As result of the transaction, which was approved by the shareholders holding more than 2/3 of the common stock at an annual meeting on March 2, 2010 the shareholders of Halifax are receiving approximately $3.8 million in the aggregate in cash or, $1.20 per share of common stock.

Blumberg, recognized as an expert on the industry from his 20+ years consulting with international players in the field and widely published market studies and commentary, advised Global Equity Capital in the acquisition of Halifax. Global Equity Capital bought the commercial IT services business of Northrop Grumman; the business was renamed National Support Services. Halifax is an enterprise logistics and maintenance solutions company providing a wide range of technology services to commercial and government customers throughout the United States; their principal products are enterprise logistics solutions and high availability hardware maintenance services.

Blumberg Advisory Group, Inc. is a leading research & consulting firm to the Reverse Logistics and Aftermarket Services Industry and a pioneer in helping companies manage service as a strategic profit center. Through their relationships and experience, Blumberg is in a unique position to identify critical industry trends, position clients strategically to meet current challenges and new growth opportunities, and advise clients on mergers and acquisitions.
From: http://www.blumberg-advisor.com
Updated: Mar 11, 2010