Merit and Fulton Sell Cobra

Merit and Fulton Capital have realised their investment in Cobra Wire & Cable. Cobra has been acquired by EIS, Inc., a subsidiary of Genuine Parts Company. Merit and Fulton acquired Cobra in early 2007. Under their ownership, Cobra improved its position in the telecommunications sector through a strategic acquisition, enhanced its management team, and expanded its sales force.

PRESS RELEASE

Merit, together with Fulton Capital, successfully exited its investment in Cobra Wire & Cable, Inc. Cobra was acquired by EIS, Inc., a subsidiary of Genuine Parts Company (NYSE: GPC). Cobra, headquartered in Hatboro, Pennsylvania, develops and sells proprietary wire and cable products that serve niche applications where performance under severe operating conditions is critical to maintaining optimal performance and flexibility.

Merit and Fulton acquired Cobra in early 2007. During the holding period, Cobra improved its position in the telecommunication sector through a strategic acquisition, enhanced its management team, and expanded its sales force. Cobra’s CEO, Peter Sheehan, said, “Merit was an excellent partner and worked closely with management on strategic decisions and growth opportunities. We valued the close working relationship between Merit and Fulton.”

Merit Capital invested both subordinated debt and equity in support of its acquisition of Cobra.