News Release from Malabar International
Malabar International, 220 W. Los Angeles Ave., Simi Valley, CA 93065, www.malabar.com
For Release: Immediate Contact: Dave Sweetland 805-581-1200, Ext. 310 dave@malabar.com
Malabar International announces partnership with Cardinal Growth
Simi Valley, CA, April 6, 2009 - Malabar International, a premier manufacturer of aircraft jacks, aircraft fluid dispensers and other ground support equipment, announced today that it has partnered with Cardinal Growth, a private equity firm based in Chicago. The partnership transaction was arranged by Akoya Capital, a Chicago-based merchant bank. As part of the transaction, John E. Carroll, Jr. has joined Malabar as chairman and E. David Sweetland will remain with Malabar as president and CEO.
Describing the transaction, Sweetland said: "This is a very exciting day for Malabar's customers and employees. Partnering with a strong financial partner in Cardinal Growth and acquiring a seasoned executive in John Carroll will allow Malabar to better serve its markets through the development of additional new products and expansion of our worldwide distribution network. John and I are committed to a growth strategy built on delivering more and more value to our customers and pursuing targeted acquisitions in the ground support equipment industry."
Carroll joined Malabar after a career as an executive in companies manufacturing and selling products in transportation equipment industries.
Cardinal Growth, a licensed small business investment company (SBIC), partners with lower middle market firms with a record of strong growth and stable cash flow.
Akoya Capital partners with industry-leading CEOs, experienced management teams and value-add co-investors to develop, investigate and execute acquisition-based strategies that deliver significant value for management partners and shareholders.
# # #
We are pleased to announce our participation in the following Expo:
International Airport Expo 2010
Las Vegas, Nevada USA
The Rio All-Suite Hotel & Convention Center
October 26-28, 2010