Scangraphics Inc. Engages Colmen Capital Advisors, Inc. to Develop Strategies to Improve Shareholder Value, Provide Investment Banking Services
LIMERICK, Pa.--(BUSINESS WIRE)--Nov. 17, 1998--Scangraphics(R), Inc. (Nasdaq: SCNG), today announced that it has engaged Colmen Capital Advisors, Inc. (Colmen), to provide investment banking services. Under the terms of the agreement, Colmen will develop and support execution of strategic options aimed at maximizing long-term shareholder value.
Mr. Laurence L. Osterwise, President and Chief Executive Officer of Scangraphics, stated that "Scangraphics, and its divisions, have made outstanding progress toward realizing our vision and our goal of delivering outstanding results for our shareholders. The appropriate next step is to rigorously analyze our progress to date, and to position the Company for the future.
Mr. Osterwise further stated that, "this agreement with Colmen will permit Scangraphics to utilize the experience of senior Colmen personnel in developing plans to maximize the value of the many assets and opportunities available to the Company. I look forward to working with Marcey Jordan Taylor, Senior Vice President, Director of Technology, and Peter C. Colella, Managing Director of Colmen, to develop and implement the strategic options."
About Colmen Capital Advisors...
Colmen Capital Advisors, Inc., based in King of Prussia, PA, is a private investment banking firm that provides advisory services in financing, strategic planning and mergers and acquisitions. |
