Vishay Precision Group Acquires George Kelk

Vishay Precision Group, Inc. (“VPG”) (NYSE: VPG), a leading producer of precision sensors and systems, based on its resistive foil technology, completed its acquisition of George Kelk Corporation (“Kelk”), a privately held company specializing in the design and manufacture of electronic measurement equipment used mainly in steel and aluminum rolling mills, paper mills, and mining applications, with operations in Toronto, Canada and Shanghai, China, and a worldwide sales and distribution network.

VPG's newly-formed Canadian subsidiary, Vishay Precision Group Canada ULC, acquired substantially all of the assets of Kelk for a purchase price of $50 million, subject to customary post-closing adjustments. The acquisition was significant to VPG in the implementation of its growth strategy. As a result of the transaction, VPG expects to deploy the “Kelk” brand name and technology to gain greater market share and customer recognition for VPG products on a global basis.

VPG was represented by its Chief Counsel, Roland Desilets and assisted by Goodmans LLP in Canada in connection with the acquisition with a team comprising Sheldon Freeman, Michelle Vigod and David Wallace (corporate); Alan Bowman and Kenneth Saddington (tax) and Susan Garvie (employment) and by Pepper Hamilton LLP in the US with a team comprising Barry Abelson and Shirley Kuhlmann.

George Kelk Corporation was represented by Wildeboer Dellelce LLP with a team comprising Rob Wortzman, Ellen Phan and Andrea Hill (corporate) and Kevin Fritz (tax).

Concurrently with the closing of the acquisition, VPG entered into credit facilities totaling over $40 million with JPMorgan Chase and Royal Bank of Canada in order to finance a portion of the acquisition and VPG's ongoing operations in Canada.

In connection with the financing, VPG was represented by Goodmans LLP in Canada with a team comprising David Nadler, Ronna Weatherly and Rachel Ouellette and by Pepper Hamilton LLP in the US with a team comprising Joan Arnold, Kelly Braun and Shirley Kuhlmann. JPMorgan Chase was represented by McMillan LLP in Canada with a team comprising Jeff Rogers, Maggie VanderMeulen and Brett Stewart in Toronto, and Jill Pereira in Vancouver; and by Drinker Biddle & Reath LLP in the US with a team comprising Jill Bronson, Rachel Krol and Peter Lively. Royal Bank of Canada was represented by Cassels Brock & Blackwell LLP in Canada with a team comprising Alison Manzer, Alex Tarantino, Sarah McKinnon and Steven Pulver; and by Thomas Keable of Gross Shuman Brizdle & Gilfillan, P.C. in the US.