B. RILEY Acts As Exclusive Financial Advisor to LightWorks Optics Inc. in its Sale to II-VI Incorporated for $31 Million

  B. RILEY Acts As Exclusive Financial Advisor to LightWorks Optics Inc. in
  its Sale to II-VI Incorporated for $31 Million

Business Wire

LOS ANGELES & NEWPORT BEACH, Calif. -- January 8, 2013

B. Riley & Co., LLC, (www.brileyco.com), a leading independent investment
bank, has acted as exclusive financial advisor to Tustin, California-based
LightWorks Optics, Inc. (“LightWorks”) in its sale to Pittsburgh-based II-VI
Incorporated (Nasdaq: IIVI) for approximately $31 million in an all cash

In addition, the agreement provides for approximately $4 million of cash
earn-out opportunities based on LightWorks achieving certain future financial
targets and is subject to customary closing adjustments including a working
capital adjustment.

B. Riley’s Managing Director Michael Lowell led the banking team which
included Senior Vice Presidents Adam Little and Salomon Kamalodine as well as
Senior Associate Grant Hustedt.

Founded in 1997, LightWorks maintains manufacturing locations in Tustin and
Vista, California. It manufactures precision optical systems and components,
including visible, infrared and laser-based systems and subassemblies
addressing the Defense, Aerospace, Industrial and Life Science markets.

In its December 21, 2012 press release announcing the acquisition, II-VI said
that LightWorks will complement II-VI’s military and materials business,
particularly Exotic Electro-Optics (EEO) which manufactures infrared products
for military applications.

Daniel Barber, Co-Founder, President and CEO of LightWorks said, “B. Riley’s
depth of experience and relationships in the Optics and Aerospace and Defense
industries played a key role in marketing to the appropriate suitors and in
receiving the right value for our company. LightWorks received significant
interest from multiple suitors and ultimately selected II-VI, which was an
ideal fit because its culture, engineering and manufacturing expertise were
similar to those of LightWorks.”

In addition, Mr. Barber said, “The professional and thorough process B. Riley
conducted gave us great confidence we had chosen the right Investment Bank to
represent our shareholders.”


B. Riley & Co. is a leading independent investment bank which provides a full
array of corporate finance, research, sales, trading and otcqx dad services to
corporate, institutional and high net worth individual clients. Investment
banking services include merger and acquisitions advisory to public and
private middle market companies, initial and secondary public offerings and
institutional private placements. Its Corporate Governance Advisory Services
Group is engaged by both companies and investors to help maximize value for
shareholders. The firm is recognized for its distinguished Equity Research.
Founded in 1997, B. Riley is headquartered in Los Angeles and maintains
offices in Newport Beach, San Francisco, New York, Boston and Atlanta. It is a
member of FINRA and SIPC. For more information, please visit www.brileyco.com.

Key Words:

Investment Banking
Exclusive Financial Advisor
Aerospace and Defense
Mergers & Acquisitions
Military Contractors
Fairness Opinion
Initial Public Offerings
Secondary and Follow-on Offerings
Institutional Private Placements
Earn-out Provisions
Infrared & Laser-based systems
Industrial Components
Precision Optical Systems
Life Science manufacturing
Technology hardware
Technology Software
Financial Services


For B. Riley & Co.:
Michael Lowell
Managing Director
For Media Inquiries:
The Orbach Company, Inc.
Nevena Orbach
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