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Whiteworth Labs

Executive Summary

Ownership of the generic company is changing hands for a second time in less than 10 months. Investment management firm Locke-Sweatman Investments has acquired a 33% interest in Applied Circuit Technology, Whiteworth's parent company, for between $3 mil. and $5.5 mil. The stake gives the investment firm management control of ACT and Whiteworth. Whiteworth has had sales of about $19 mil. over the last nine months. Locke-Sweatman said it believes "the capacity exists for doubling the revenues of Whiteworth." ACT purchases Whiteworth in March from a private group of investors that bought the generic firm in May 1985 from Whiteworth International.
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