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EXHIBIT (a)(5)(ii)
FOR IMMEDIATE RELEASE Contact: Stacie Nevadomski
Burson-Marsteller
202-530-4661
THAYER-BLUM FUNDING, L.L.C.
LAUNCHES TENDER OFFER
WASHINGTON, D.C., July 20, 2000 - Thayer-BLUM Funding, L.L.C. (Thayer-BLUM),
today launched a tender offer to purchase up to 5,625,000 shares of common
stock, par value $0.01 per share of EFTC Corporation (EFTC), for $4.00 per share
by mailing tender offer documents to EFTC shareholders and filing a Tender Offer
Statement with the Securities and Exchange Commission. In order to participate
in the tender offer, shareholders must follow the instructions provided in the
materials sent to them in the tender offer mailing. EFTC concurrently mailed a
proxy statement to its shareholders containing a notice of a special meeting to
seek approval of certain aspects of the recapitalization transaction.
Consummation of the tender offer by Thayer-BLUM is subject to the satisfaction
of certain conditions, including that at least 500,000 shares of common stock
are validly tendered and not withdrawn prior to August 22, 2000.
The Tender Offer is the final stage of a public recapitalization of the Company.
In the first stage of the recapitalization transaction, on March 30, 2000,
Thayer-BLUM invested a total of $54 million in EFTC in exchange for senior
subordinated exchangeable notes and warrants. In the second stage, on July 14,
2000, Thayer-BLUM invested an additional $14 million in EFTC senior exchangeable
notes.
Upon shareholder approval of certain aspects of the transaction and consummation
of the of the tender offer, the warrants will be cancelled and the senior
subordinated exchangeable notes issued in March will be exchanged for senior
subordinated convertible notes that are convertible into common stock at a
conversion price of $2.58 per share and the senior subordinated exchangeable
notes issued in July will be exchanged for EFTC's Series B Convertible Preferred
Stock which accrues dividends at a rate of 8.875% and is convertible into common
stock at a conversion price of $1.80 per share.
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EFTC Corporation is a provider of high-mix electronic services, employing over
1500 people nationwide. EFTC provides services primarily to original equipment
manufacturers in the avionics, medical, instrumentation and communications
industries. EFTC employs approximately 1500 people at manufacturing sites
located in Arizona, Kansas, Massachusetts, New Hampshire, Oregon, Washington
State, and Mexico.
Thayer-BLUM Funding, L.L.C., was formed by affiliates of Thayer Capital
Partners, based in Washington D.C., and BLUM Capital Partners, based in San
Francisco, California. Thayer Capital Partners is a private equity investment
firm that controls positions in 14 operating companies with a total revenue of
more than $2.1 billion. Providing entrepreneurial perspective and expertise in
building companies through consolidation, Thayer Capital Partners manages
private equity funds focused on generating superior equity returns through
acquisitions of, or ventures with, companies in a variety of targeted industries
including information technology, travel and leisure, electronics and outsourced
manufacturing and services. BLUM is a private equity and strategic block
investment firm, which manages in excess of $3 billion in capital both
domestically and internationally.
THIS ANNOUNCEMENT IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER
TO SELL SHARES OF THE COMPANY. SECURITY HOLDERS ARE ADVISED TO READ THE
IMPORTANT INFORMATION FILED WITH THE SECURITIES AND EXCHANGE COMMISSION THAT IS
CONTAINED IN THE TENDER OFFER STATEMENT (INCLUDING AND OFFER TO PURCHASE, A
RELATED LETTER OF TRANSMITTAL AND OTHER OFFER DOCUMENTS) FILED BY THAYER-BLUM
AND THE SOLICITATION/RECOMMENDATION STATEMENT FILED BY EFTC. THE TENDER OFFER
DOCUMENTS AND SOLICITATION/RECOMMENDATION STATEMENT WILL BE MADE AVAILABLE TO
ALL SHAREHOLDERS OF EFTC AT NO EXPENSE TO THEM. THE TENDER OFFER STATEMENT
(INCLUDING THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND THE
OTHER OFFER DOCUMENTS FILED WITH THE COMMISSION) AND THE
SOLICITATION/RECOMMENDATION STATEMENT WILL ALSO BE AVAILABLE AT NO CHARGE AT THE
COMMISSIONS WEBSITE AT WWW.SEC.GOV.
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