MITY shareholders approve merger with private equity firms; closing date moved up

By Lisa Kerner

Charlotte, N.C., June 27 - MITY Enterprises, Inc. shareholders approved the company's merger with an affiliate of Sorenson Capital Partners LP and Peterson Partners LP at a special meeting on Wednesday.

Preliminary results show that holders of about 93% of the shares voted to approve the deal. The number of shares voting to approve the merger agreement represents roughly 77% of the total number of shares outstanding and entitled to vote, a company news release stated.

The merger agreement gives MITY shareholders $21.50 per share in a transaction now slated to close by July 16 instead of Aug. 2.

Orem, Utah-based MITY designs and manufactures institutional furniture.

Sorenson Capital and Peterson Partners are private equity firms based in Salt Lake City.

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