TORONTO, June 22, 2011 /CNW/ - GMA Cover Corporation (GMA), a global
leader in the design, development and manufacture of high technology
protection systems, announced today that it has been acquired by an
affiliate of Admiralty Partners, Inc., a private investment firm that
invests exclusively within the global aerospace, defense and federal
information technology industries.
Founded in 1974, GMA Cover Corporation (www.gmacover.com) is headquartered in Ontario, Canada, owns two manufacturing facilities
in Michigan, USA and an affiliated offshore manufacturing facility in
the Dominican Republic. Its engineered systems include concealment
(such as ULCANS), aerial delivery, flexible fuel and water storage,
vehicle soft-top systems and tactical soft shelters, primarily for the
U.S. Department of Defense.
"Becoming a portfolio company of Admiralty Partners, Inc. is a perfect
fit for GMA's next stage of growth", said Glenn Verkindt, Founder and
Chairman of GMA. "Admiralty shares GMA's entrepreneurial culture of
innovation, engineering, advancing product and process technology and
aggressive growth. In addition, GMA has now become a U.S. owned
corporation with a subsidiary in Canada, a structure which will
materially improve our ability to expand our access in the U.S. defense
About Admiralty Partners, Inc.
Admiralty Partners is a private investment firm that invests exclusively
within the global aerospace, defense, and federal information
technology industries. Admiralty is dedicated to providing both capital
and seasoned strategic guidance to the portfolio companies in which it
has invested. Founded in 1992, by Jon B. Kutler, it was a member of
the Quarterdeck family of companies which included Quarterdeck
Investment Partners, LLC (QIP), the global leader in merger and
acquisition advisory services to the aerospace, defense and federal
information technology industries. It was renamed Admiralty Partners,
Inc. following the sale of its QIP subsidiary to Jefferies & Company,
Inc. (NYSE: JEF). For more information, visit www.admiraltypartners.com.
SOURCE GMA Cover Corp.
For further information:
GMA: Nicole Verkindt (519-766-4583)
Admiralty Partners, Inc.: Jon B. Kutler (310-471-3772)