Industrial laser producer Rofin-Sinar has engaged PR and proxy support as activist investors circle the publicly traded company.
Abernathy MacGregor Group is advising the Plymouth, Mich.-based company on the PR front, while Georgeson is handling proxy solicitation ahead of its annual meeting of stockholders March 17.
London's SilverArrow Capital Advisors is pressuring Rofin-Sinar for a perceived "abysmal performance relative to its competitors in the marketplace." It is mounting a proxy challenge, backing a slate of three candidates for the Rofin-Sinar board. Proxy solicitation firm DF King is working with SilverArrow on the campaign.
In a letter to shareholders, Rofin-Sinar backed re-election of its three current directors and defended its strategy for long-term growth. It knocked the "costly and distracting proxy fight" by an "unproven investor."
Fiscal first quarter revenues were $112.5M.
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