Shares of Harvey Electronics (HRVE) Jump on News the Company is Acquiring Myer-Emco

May 8, 2007 10:12 AM EDT

Harvey Electronics, Inc. (NASDAQ: HRVE) has agreed to acquire Myer-Emco, Inc., the Mid-Atlantic region's leading high-end retailer and custom installer of audio video systems. The addition of MyerEmco's 10 locations in Washington, D. C. and its suburbs will more than double the size of Harvey. The closing of the transaction is subject to financing and other customary contingencies.

Andy Stackpole, Chairman of Harvey Electronics and Managing Partner of private equity firm Trinity Investment Partners LLC, commented, "MyerEmco AudioVideo has a long history of profitability, growth, and customer satisfaction. The combination of our two businesses will create the premier high-end custom installer and retailer in the Northeast Corridor. This region is among the most affluent in the nation, stretching from Northern Virginia to the Eastern and Northern suburbs of New York City."

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