Lapp: Sells Bushings Division To PCore
August 25, 2004
Lapp Insulator Co., LLC has completed the sale of its Bushings Division to a newly formed company, PCore Electric. The transaction was orchestrated and funded by Rochester-based DeltaPoint Capital Management, LLC, in partnership with HSBC Capital (USA) Inc. and the former managers of the Bushings Division. "By divesting ourselves of the Bushings Division, Lapp can now solely focus on our core competency of manufacturing and marketing high voltage electrical insulators," said John Hurshman, president and CEO. "This transaction will also allow us to aggressively pursue additional strategic plans for growth."