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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): July 19, 1999
EG&G, Inc.
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(Exact Name of Registrant as Specified in Charter)
Massachusetts
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(State or Other Jurisdiction of Incorporation)
1-5075 04-2052042
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(Commission File Number) (I.R.S. Employer Identification Number)
45 William Street
Wellesley, Massachusetts 02129
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(Address of Principal Executive Offices) (Zip Code)
(781) 237-5100
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(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS.
On July 19, 1999, the Registrant announced that it had entered into a
Purchase and Sale Agreement for the sale of its Technical Services Business to
The Carlyle Group for $250 million. The transaction is expected to be completed
by late summer, subject to customary closing conditions.
A copy of the press release announcing the execution of this Agreement is
attached to this Current Report on Form 8-K as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(a) Financial Statements to Businesses Acquired
Not Applicable.
(b) Pro Forma Financial Information
Not Apllicable.
(c) Exhibits
Exhibit 99 Press Release regarding agreement to sell Technical
Services Business, dated July 19, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
EG&G, INC.
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(Registrant)
Date: July 27, 1999 By: /s/ Terrance L. Carlson
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Terrance L. Carlson
Senior Vice President and
General Counsel
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EXHIBIT INDEX
Exhibit
Number Description
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99 Press Release regarding agreement to sell Technical Services
Business, dated July 19, 1999.
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EXHIBIT 99
EG&G to Sell Technical Services Unit For $250M
WELLESLEY, Mass., July 19 /PRNewswire/ --EG&G, Inc. (NYSE: EGG - news) today
announced that it had entered into an agreement to sell its government services
unit, EG&G Technical Services, to The Carlyle Group, Washington, D.C., for $250
million. The transaction is expected to be completed by late summer, subject to
customary closing conditions.
EG&G Technical Services provides management, engineering, scientific, technical
and operations support services to government customers.
"We are pleased to announce this strategic sale, which will allow us to continue
our investments in higher growth opportunities," said Gregory L. Summe, EG&G
chairman and CEO. "This marks another milestone in our transition to a focused,
commercial high-technology company."
Allan Holt, a managing director of The Carlyle Group, said, "Carlyle is very
enthusiastic about the prospect of acquiring EG&G Technical Services and
continuing to build its value. We are well positioned to benefit from the
general trends in outsourcing and privatization given our breadth of service
offerings, customer relationships and management capabilities."
EG&G began a strategic review of Technical Services in March, when it announced
the Company's acquisition of Perkin Elmer Analytical Instruments.
"We concluded," Summe said, "that while a good business, Technical Services was
not synergistic with the long-term focus of the Company in the life science,
analytical instruments, electronics, and aerospace markets. We also felt that
Technical Services would have more opportunity to grow with an owner who looks
upon its services as a core business."
Founded in 1987, Carlyle is a Washington D.C.-based global private equity firm
that originates, structures and acts as the lead equity investor in
management-led buyouts, private placements and venture capital transactions.
EG&G, Inc., a global technology company based in Wellesley, Massachusetts,
provides products and systems to the medical, telecom, electronics, aerospace,
photographic and other industries. Additional information is available at
www.egginc.com.
For further information, contact: Martin A. Reynolds, EG&G, Inc. (781) 431-4282.
