Graham Holdings Buys Joyce/Dayton

(RTTNews) - Graham Holdings Co. (GHC) said Friday that it has bought Joyce/Dayton Corp., a Dayton, Ohio-based manufacturer of screw jacks and other linear motion systems. The purchase price was not disclosed.

Michael Harris, president, and the Joyce/Dayton management team will continue to run the business.

Joyce/Dayton's products are incorporated into equipment used in solar energy generation, satellite antennas and natural gas fracking.

Donald 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."