PETERBOROUGH, Ont. – Lindsay Electronics was purchased one day after it went bankrupt last week.
The Emma Thomas-owned company went out of business on Friday, December 2, throwing 40 people out of work. However, the next day, a group of investors led by company president Dave Atman bought the company, renamed it Lindsay Broadband and this week, moved it to Peterborough.
The new company Lindsay Broadband Inc. is now located at 2035 Fisher Dr. in Peterborough Ontario and hosts new sales/marketing offices and state of the art manufacturing and RF engineering facilities, says Atman. “We’ve been moving everything all week. It’s been busy,” he said.
He declined to say who the investors were or what the purchase price was. Lindsay Broadband currently has 14 employees with a plan to get back up to 25 quickly. The new ownership “provides financial stability and a strong management team with many years of successful RF design and manufacturing serving the CATV industry,” says the company.
The company will serve the marketplace with the same product mix, plus some new technologies such as integrated CATV WiFi, and Dynamic Ingress Blocking solutions.
The new company will maintain International sales offices in the United States, Costa Rica, Moscow, Brussels, and Hong Kong as well as preserve its existing distributor relationships. It will be business as usual for Lindsay’s clients, he added.
“We shipped product from Lindsay Broadband yesterday,” said Atman on Wednesday.
Lindsay Broadband Inc. will honour special pricing, quotations and warranties under the terms and conditions as previously offered to you by Lindsay Electronics.
For further information, please contact the following people at their new numbers: Bill Bellamy at 416-728-5455; David Atman at 705-328-6586; Brenda Brasier at 705-742-1350.
