Cypress Group acquires Communications & Power Industries

January 6, 2004

The Cypress Group, a New York-based private equity firm, has announced an agreement to acquire Communications & Power Industries, Inc. (CPI) from Leonard Green & Partners, L.P. and other investors, in a transaction valued at about $300 million.

CPI provides vacuum electron devices (VEDs), satellite communications amplifiers, medical imaging generators, and other related equipment for defense and commercial applications.

Headquartered in Palo Alto, Calif., CPI has five divisions: Microwave Power Products, Satcom, Communications & Medical Products, EIMAC, and Beverly Microwave Products. CPI maintains manufacturing facilities in Palo Alto, San Carlos, Calif., Beverly, Mass., and Georgetown, Ontario, Canada, and has a worldwide sales and marketing network.

For more information, please visit: http://www.cpii.com.

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