SYBRON DENTAL SPECIALTIES INC (SYD) SPO
|Company Name||SYBRON DENTAL SPECIALTIES INC|
|Company Address||1717 WEST COLLINS AVENUE
ORANGE, CA 92867
|CEO||Floyd W. Pickrell, Jr.|
|Employees (as of 9/30/2000)||3400|
|State of Inc||DE|
|Fiscal Year End||9/30|
|Exchange||New York Stock Exchange|
|Shares Over Alloted||--|
|Shareholder Shares Offered||--|
|Lockup Period (days)||180|
|Quiet Period Expiration||7/2/2001|
We estimate the net proceeds from the sale of the 2,650,000 shares of our common stock in this offering, after deducting estimated offering expenses, will be approximately $50 million. We expect to use approximately $45 million of the net proceeds from the offering to repay borrowings under our credit facilities with a weighted average interest rate of approximately 6.8% and maturing on various dates through July 5, 2001, which were incurred to finance our acquisition of Hawe Neos Holding S.A., and the balance for general corporate purposes. In anticipation of our acquisition of Hawe Neos and this offering, on April 18, 2001 we executed a first amendment and consent to our credit agreement with our senior lenders. The amendment sets forth our lenders' consent to our acquisition of Hawe Neos and allows us to finance the acquisition with the proceeds of our revolving credit facility.
Numerous competitors participate in our business segments, some of which have substantially greater financial and other resources than we do. Our principal competitors in the professional dental business segment include GC America, Inc., 3M Corporation, and Dentsply International Inc.; in the orthodontics business segment, we compete with companies such as American Orthodontics, GAC Orthodontics, a subsidiary of Dentsply, and Unitek, a subsidiary of 3M Corporation; and in the infection control products business segment, our principal competitors include Johnson and Johnson, Steris Corporation, and Ecolab, Inc. We may face increased competition from them in the future and we may not be able to achieve or maintain adequate market share or margins, or compete effectively, in any of our markets. Any of the foregoing factors could adversely affect our revenues and hinder our future expansion.
We are a leading manufacturer of value-added products for the dental and orthodontic professions and products for use in infection control. We operate under three business segments: - Professional Dental. We develop, manufacture, market, and distribute a comprehensive line of consumable
products to the dental industry worldwide. - Orthodontics. We engineer, manufacture, market, and distribute a complete array of consumable orthodontic products and endodontic products used in root canal therapy. - Infection Control Products. We develop, manufacture, market, and distribute consumable infection prevention products to the dental and medical markets. We market our products in the United States and abroad under brand names such as Kerr(R), Belle(TM), Metrex(R), Ormco(R), "A" Company(R) Orthodontics, Pinnacle(R), Demetron(R), Analytic(TM), and AOA(R), which are well recognized in the dental, orthodontics, and infection control industries. THE SPIN-OFF Prior to December 11, 2000, we were a wholly owned subsidiary of Sybron International Corporation, which is now known as Apogent Technologies Inc. On December 11, 2000, Sybron International spun off its dental business by a pro rata distribution to its shareholders of all of our outstanding common stock together with related preferred stock purchase rights. As a result of the spin- off, we became an independent, publicly traded company. Sybron Dental Specialties, Inc. was incorporated in Delaware on July 17, 2000, to effect the spin-off referred to above. Our principal executive offices are located at 1717 West Collins Avenue, Orange, California 92867; telephone (714) 516-7400.