Economy

YSI seeks strategic partner

YSI Incorporated, the village’s largest employer, is seeking a strategic partner “to help the company achieve its full potential in the dynamic markets it serves,” according to a press released from YSI on Thursday, March 17.

YSI is a leading developer and manufacturer of water monitoring and testing products. It has 370 employees in 22 locations worldwide, with about 160 employees in its Yellow Springs headquarters.

In 2010 the company reached the milestone of making $100 million in revenue, according to YSI President and CEO Rick Omlor in the press statement.

“In order to continue this level of growth the company will need to continue to invest in new technology, additional international offices and more strategic acquisitions,” Omlor wrote.  “Although YSI is a private company, we have a very diversified shareholder structure. Over the past few years growing segments of our shareholders have begun seeking liquidity for their investment in YSI and we must consider the needs of the company and the desires of our shareholders.”

According to the press statement, the action is necessary because, “A partnership will give us the opportunity to continue our growth and allow us to fulfill our fiduciary responsibility to our shareholders.”

Omlor declined to answer questions regarding the press release, stating that he does not have more information at this time.

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