FIRST TEXAS ACQUIRES FISHER RESEARCH LABORATORYEl Paso, Texas, May 16, 2006 - First Texas Holdings Corporation, a leading provider of metal detectors and night vision optics, is pleased to announce the acquisition of Fisher Research Laboratory.
Located in Los Banos, California, Fisher is the world's oldest metal detector company, providing high quality detectors since the 1930s. Today, Fisher is a leading supplier of underground locating equipment to professional markets, as well as hobby and security metal detecting equipment. Fisher's product lines include pipe and line tracers, valve and box locators, acoustic leak detectors, hobby metal detectors, walk-through security metal detectors, and hand-held weapons scanners.
Fisher's strong market presence complements First Texas' existing Bounty Hunter and Teknetics brand metal detectors. First Texas is excited about the addition of the Fisher family of products and technologies to its product portfolio and believes the acquisition furthers its position as an industry leader in detection equipment.
For information about the First Texas family of products, please visit www.FISHERLAB.com, www.DETECTING.com, and www.NIGHTOWLOPTICS.com or call 209-826-3292 or 915-633-8354.
About First Texas Holdings Corporation
First Texas Holdings Corporation, located in El Paso, Texas, manufactures and markets hobby and security metal detectors under the Bounty Hunter and Teknetics brands, as well as Night Owl and iGen consumer and professional night vision products. First Texas was acquired by the Texas Growth Fund and management in 2003 as a platform for expansion in niche consumer electronics markets.
About Texas Growth Fund
Based in Austin, Texas, the Texas Growth Fund is one of the oldest middle-market private equity funds in the Southwest. With over $575 million under management, TGF focuses on acquiring and building middle market companies in partnership with management. Texas Growth Fund is managed by TGF Management Corp.