REDRC: Horizon Hobby to be Acquired by Investor Group

GPS · Dec 10, 2013

Horizon Hobby Inc, parent company to many well known RC car related brands such as as TLR, Losi, Spektrum, Nitrotane etc. have announced that its board of directors has signed a definitive agreement under which the company would be sold to an investor group led by Joe Ambrose, Horizon’s Chief Executive Officer. The investment group includes Armory Capital, LLC and Mill City Capital L.P., two investors that have deep experience with management-led acquisitions. Financial terms were not released.

Horizon Hobby, Inc., an international developer, marketer and distributor of radio control (RC) hobby products, model trains and other hobby products, announced today that its board of directors has signed a definitive agreement under which Horizon Hobby would be sold to an investor group led by Joe Ambrose, Horizon’s Chief Executive Officer. The investment group includes Armory Capital, LLC and Mill City Capital L.P., two investors that have deep experience with management-led acquisitions. Financial terms were not released.
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Source:
http://www.redrc.net/2013/12/horizon-hobby-to-be-acquired-by-investor-group/

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REDRC: Horizon Hobby to be Acquired by Investor Group

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