Oak Industries Inc. has completed the previously...

Oak Industries Inc. has completed the previously announced $20.9-million cash acquisition of Electronic Technologies Inc. of New York City, a company partly owned by Michael Dingman, chairman of Henley Group Inc. Henley owns 14% of Oak’s shares.

Terms of the acquisition were not announced but the $20.9-million purchase price was listed on a Securities and Exchange Commission filing by Oak. ETI, which makes components for radio frequency control applications, had sales of $18.7 million for the year ended Sept. 30, Oak said.

When the acquisition was announced in December, Oak Chairman E.L. McNeely said there was no conflict of interest in Oak buying a company partly owned by Dingman because “Henley is not involved in ETI.”