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Article: Baldwin-United management group buys Baldwin Piano and Organ assets.
- Article from:
- PR Newswire
- Article date:
- June 15, 1984
CopyrightCOPYRIGHT 1984 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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/ADVANCE/ CINCINNATI, June 17 /PRNewswire/ -- Baldwin-United Corp. announced today that its indirect subsidiary, Baldwin Piano & Organ Co., has completed the sale of substantially all of its assets and certain assets of related companies to a senior management group of the company. The leveraged buy-out is financed by General Electric Credit Corp. and Security Pacific Business Credit, Inc.
According to Peter A. Martosella Jr., president and chief operating officer of Baldwin-United Corp., "The aggregate purchase price is approximately $52 million in cash. In addition, the purchaser assumes virtually all liabilities of the piano and organ company and certain ...