NEWS RELEASE
For more information, contact:
Doug LeConey Sonja Risner
President Controller
Flow Dry Technology, Inc. Milestone Capital Management, LLC
937-833-2161 Ext. 332 202-741-3663
FOR IMMEDIATE RELEASE
Milestone Capital announces acquisition of Flow Dry Technology, Inc.
Brookville, OH (September 25, 2006) – Milestone Capital Partners, located in Washington, DC has acquired Flow Dry Technology, Inc.
“We are thrilled to complete the purchase of Flow Dry,” said Murry N. Gunty, Managing Partner of Milestone Capital. “Under the leadership of Doug LeConey and his team, we believe the company has great opportunities both domestically and internationally.”
Doug LeConey, CEO of Flow Dry Technology, Inc. stated that “the management of Flow Dry Technology, Inc. is very excited about the new ownership of our company. We expect to receive the full support of Milestone Capital to grow the business in our core capabilities for the benefit of all our associates and customers in the global marketplace. We intend to continue to fully serve the needs of our customers in every aspect of innovation, service, quality, cost and delivery.”
A leader in gasket and sealing technology, Flow Dry Technology employs a highly trained in-house staff and the latest design and engineering technology in the gasket, packaging and sealing business.
Featuring a complete range of gasket materials, from rubber-edged composite gaskets to kiss-cut, peel and stick foam gaskets, Flow Dry provides quick quotes, fast outstanding service and sound technical advice. Whether you're looking for rapid prototyping or production, Flow Dry will provide the start-to-finish product management you need - at the right price.
About Milestone Capital
Milestone Capital Management, LLC is a Washington, DC based private equity firm with $88 million of capital under management. Milestone focuses on control buyouts of companies that are either underperforming, in out-of-favor industries or are undergoing some form of transition. Milestone seeks investments in a range of industries, including manufacturing/distribution, restaurants, specialty retail business services and health care.
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