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UNITED STATES
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 its charter)
Massachusetts 1-5075 04-2052042
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
45 William Street, Wellesley, Massachusetts 02481
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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)
Not applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On July 19, 1999, the Company 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. (See press
release attached hereto as Exhibit 99.)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EG&G, Inc.
By /s/ Gregory D. Perry
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Gregory D. Perry
Vice President,
Control and Treasury
Date: July 29, 1999
Item 7. Exhibit Index
Exhibit 99 - - Press Release dated July 19, 1999
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Exhibit 99
FOR IMMEDIATE RELEASE
19 July 1999
EG&G TO SELL TECHNICAL SERVICES UNIT FOR $250M
Wellesley, Massachusetts....EG&G, Inc. (NYSE:EGG) 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
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For further information contact: Martin A. Reynolds, EG&G, Inc. (781) 431-4282
