Press Release

Ballard Spahr Advises TESSCO Technologies Incorporated in Merger Valued at $160 Million

July 18, 2023

Ballard Spahr served as legal counsel to leading wireless products supplier TESSCO Technologies Incorporated in connection with its previously announced merger with entities affiliated with Lee Equity Partners and Twin Point Capital, Tessco announced.

Lee Equity Partners and Twin Point Capital also own the entities Alliance Corporation, a value-added distributor of equipment for the wireless industry, and GetWireless, LLC, a value-added distributor of cellular solutions that connect the Internet of Things (IoT). Tessco states that it will maintain its facilities in Hunt Valley and Timonium, Maryland, and Reno, Nevada, and will broaden its facility footprint, product offering, and value-added capabilities by partnering with Alliance and GetWireless following the merger, which closed July 17.

Under the terms of the merger, each share of Tessco common stock outstanding prior to the merger has been converted into the right to receive $9.00 in cash, reflecting a company enterprise value of approximately $160 million. As a result of the merger, Tessco common stock will cease trading on, and will be delisted from, the Nasdaq stock exchange.

The team of Ballard Spahr attorneys that advised Tessco in the transaction was led by Douglas M. Fox, a Baltimore-based partner, and Michael R. Kuhn, a Minneapolis-based partner, of the firm’s Mergers and Acquisitions Group. The team included Minneapolis-based Associate Alexander S. Park and a total of 17 Ballard Spahr lawyers from five firm offices and four of the firm’s five primary legal departments who worked on the merger transaction and related matters.

For additional information, see Tessco’s press release.

For media inquiries, please contact Bill Shralow at 215.864.8195.

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