Thayer Blum Funding LLC, et al. – ‘SC TO-T/A’ on 8/24/00 re: Eftc Corp, et al. – EX-99.F

On:  Thursday, 8/24/00, at 5:28pm ET   ·   Accession #:  928385-0-2344   ·   File #s:  5-49123 (SC 13D/A), 5-49123

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Amendment to Tender-Offer Statement — Third-Party Tender Offer   —   Schedule TO
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC TO-T/A   Schedule to                                           22     73K 
 2: EX-99.A.5.IV  First Amendment to Securities Purchase Agreement     7     26K 
 3: EX-99.F     Press Release                                          2     13K 

EX-99.F   —   Press Release

EX-99.F
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FOR IMMEDIATE RELEASE 
--------------------- 

THAYER-BLUM FUNDING, L.L.C. 
CLOSES TENDER OFFER 
_______________________________________________________________________ 

  WASHINGTON, D.C., August 24, 2000 - Thayer-BLUM Funding, L.L.C. (Thayer-
BLUM), today announced the acceptance for purchase of 5,625,000 shares of common
stock, par value $0.01 per share of EFTC Corporation (NASDAQ: EFTC) at a price  
of $4.00 per share which were tendered pursuant to the tender offer commenced on
July 20, 2000.                                                                  

    The offer expired at 12:00 midnight, New York City time, on Tuesday August
22, 2000.  Based on a preliminary report from the Depositary for the tender,    
12,329,930 shares of EFTC common stock had been validly tendered and not        
withdrawn pursuant to the tender offer, including 555,713 shares tendered       
pursuant to Notices of Guaranteed Delivery.  This represents 6,704,930 more     
shares than were sought in the tender offer, and shares will therefore be       
purchased on a pro rata basis.                                                  

Consummation of  the tender offer is the final stage of a public      
recapitalization of the EFTC.  In the first stage of the recapitalization       
transaction, on March 30, 2000, Thayer-BLUM invested a total of $54 million in  
EFTC in exchange for senior subordinated exchangeable notes and warrants.  In   
the second stage, on  July 14, 2000, Thayer-BLUM invested an additional $14     
million in EFTC senior exchangeable notes.                                      

  As a result of the EFTC shareholders' approval of certain aspects of the
transaction and consummation of the tender offer, (A) the senior subordinated   
exchangeable notes issued in March were exchanged for senior subordinated       
convertible notes that are convertible into common stock at a conversion price  
of $2.58 per share and (B) the senior subordinated exchangeable notes issued in 
July were exchanged for EFTC's Series B Convertible Preferred Stock which       
accrues dividends at a rate of 8.875% and is convertible into common stock at a 
conversion price of $1.80 per share.  The Series B Convertible Preferred Stock  
votes on all matters with the common stock on an as converted basis.  As a      
result, following consummation of the tender offer, Thayer-BLUM holds 5,625,000 
shares of common stock and 14,233 shares of Series B Convertible Preferred Stock
which entitle Thayer-BLUM to 13,532,407 votes representing 57.7% of the total   
number of votes outstanding.  Additionally, the convertible note is convertible 
into 22,203,430 shares of common stock.  If the convertible  note is converted, 
Thayer-BLUM will be entitled to a total of 35,735,837 votes, representing 78.3% 
of the total number of votes then outstanding.                                  

   EFTC Corporation is a provider of high-mix electronic services, employing
over 1500 people nationwide.  EFTC provides services primarily to original      
equipment manufacturers in the avionics, medical, instrumentation and           
communications industries.                                                      

EX-99.F
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 Thayer-BLUM Funding, L.L.C., was formed by affiliates of Thayer Capital
Partners, based in Washington D.C., and BLUM Capital Partners, based in San     
Francisco, California.  Thayer manages two private equity funds with more than  
$1.2 billion under management.  Thayer focuses on buyouts and growth equity     
investments in four primary industries: information technology and services,    
electronics and outsourced manufacturing, travel and leisure services and       
outsourced business services.  BLUM is a private equity and strategic block     
investment firm, which manages in excess of $3 billion in capital both          
domestically and internationally.                                               

* * * * * 
   Safe Harbor Statement  under the Private Securities Litigation Reform Act
of 1995:                                                                        

Certain of the statements contained in this press release are forward-
looking statements that involve a number of risks and uncertainties.  Such      
forward-looking statements include the following:  relations with the Company's 
major customer; business conditions and growth in the Company's industry and    
general economy; competitive factors; risks that orders may be subject to       
cancellation; risks due to shifts in market demand; risks inherent with         
predicting revenue and earnings outcomes; uncertainties involved in implementing
improvements in the manufacturing process; uncertainties regarding potential tax
refunds; uncertainties regarding application of accounting principles; the      
ability of the Company to complete acquisitions; and the risk factors listed    
from time to time in the Company's reports filed with the Securities and        
Exchange Commission as well as assumptions regarding the foregoing.  Neither    
Thayer-BLUM nor EFTC undertakes any obligation to publicly update or revise any 
forward-looking statements, whether as a result of new information, future      
events, or otherwise.  Readers are cautioned that any such forward-looking      
statements are not guarantees of future performance and involve risks and       
uncertainties and that actual results may differ materially from those indicated
in the forward-looking statements as a result of various factors.  Readers are  
cautioned not to place undue reliance on these forward-looking statements.      

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC TO-T/A’ Filing		Date		First		Last			Other Filings
Filed on:		8/24/00		1
		8/22/00		1					DEFS14A
		7/20/00		1					DEFS14A,  SC 14D9,  SC TO-T
		7/14/00		1
		3/30/00		1					8-K
									List all Filings