WASHINGTON--(BUSINESS WIRE)--May 30, 2014--
Graham Holdings Company (NYSE: GHC) today announced it has acquired
Joyce/Dayton Corp., a Dayton, OH-based manufacturer of screw jacks and
other linear motion systems. Michael Harris, president, and the
Joyce/Dayton management team will continue to run the business. The
purchase price was not disclosed.
Joyce/Dayton Corp. (JoyceDayton.com)
was founded by Jacob Joyce in 1873, when he began manufacturing an
improved track jack for the growing railroad industry. The company has
focused on its current product lines for about 50 years, and its
products are incorporated into equipment used in solar energy
generation, satellite antennas and natural gas fracking.
Donald E. Graham, chairman and chief executive officer of Graham
Holdings, said: “Our acquisition of Joyce/Dayton Corp. is part of Graham
Holdings’ ongoing strategy of investing in companies with demonstrated
earnings potential and strong management teams attracted to our
long-term investment horizon. Joyce/Dayton is a small acquisition that
fits with our decentralized operating philosophy. We are a diverse group
of businesses sharing common goals and values but each with its own
identity and workplace culture, and with management responsible for its
operations.”
About Graham Holdings Company(www.ghco.com)
Graham Holdings Company (NYSE: GHC) is a diversified education and media
company whose principal operations include educational services,
television broadcasting, cable systems and online, print and local TV
news. The Company owns Kaplan, a leading global provider of educational
services; Post–Newsweek Stations (WDIV–Detroit, KPRC–Houston,
WPLG–Miami, WKMG–Orlando, KSAT–San Antonio, WJXT–Jacksonville); Cable
ONE, serving small-city subscribers in 19 midwestern, western and
southern states; The Slate Group (Slate, Slate V, TheRoot); and Foreign
Policy. The Company also owns Trove, a digital team focused on
innovation and experimentation with emerging technologies; SocialCode, a
leading social marketing solutions company; Celtic Healthcare; and
Forney Corporation.
Source: Graham Holdings Company
Graham Holdings Company
Rima Calderon, 301-996-6350
rima.calderon@ghco.com
