Mechtronix receives $39 million in funding from Richardson Capital

    Capital Injection to Enable Flight Training Solutions and Continued
    Expansion in Global Markets

    MONTREAL, Sept. 29 /CNW Telbec/ - Mechtronix World Corporation
("Mechtronix"), the world's third largest and fastest growing provider of
flight simulation equipment announces that it has received an initial
$39 million equity infusion from Richardson Capital Limited ("RCL"), a leading
investor in Canadian growth companies. This capital infusion will fund
continued R&D, expansion of manufacturing capabilities, widening of turnkey
services for new generation training centers, as well as expanded market
development efforts in the Americas, Asia, Europe and the Middle East.
    David Brown, CEO of Richardson Capital, has been appointed to the
Mechtronix World board of directors to provide counsel in the form of
strategic guidance in corporate governance, planning and investment decision
making as well as to help Mechtronix build additional strategic alliances. "We
are pleased to have the opportunity to partner with Mechtronix, a growth
oriented company with the entrepreneurial vision and world class leadership we
like to invest in" said Mr. Brown. "We are impressed by Mechtronix World's
ability to profitably grow its business, continue to strengthen its worldwide
brand, and offer leading training solutions required by today's growing
airlines and flight training organizations".
    "We greatly appreciate RCL's commitment to Mechtronix World as this
investment provides the resources required to propel our rapid growth as well
as the execution of our business plan going forward", said Fernando
Petruzziello, Mechtronix World's CEO and chairman. We are excited to have RCL
partner together with the Caisse as the business enters its next phase of
    In addition to Richardson Capital, Mechtronix World's shareholders are
the Company's founders and management team, along with the Caisse de dépôt et
placement du Québec ("the Caisse"), an active investor, shareholder and board
member of Mechtronix World. The Caisse is a financial institution that manages
funds primarily for public and private pension and insurance plans. One of the
leading institutional fund managers in Canada, the Caisse held $155.4 billion
of net assets as of December 31, 2007.

    About Richardson Capital Limited

    RCL is the private equity division of Richardson Financial Group ("RFG")
and currently manages over $1 billion in assets through its two private equity
funds. Its investment professionals specialize in partnering its capital and
expertise with that of Canadian entrepreneurs, managers and families to
transition and develop growing businesses. RFG is part of the James Richardson
& Sons, Limited ("JRSL") group of companies. Founded in 1857, JRSL is one of
Canada's oldest and largest private family owned companies and is now in its
5th generation of family ownership. Its activities have spanned many of the
industries instrumental to Canada's growth including agriculture, shipping,
broadcasting, aviation, financial services and energy exploration and
development. Today, JRSL is comprised of four core operating divisions, namely
agriculture, oil and gas exploration, financial services and property
management, in addition to a large portfolio of private and public market
investments. For more details on JRSL, please visit

    About Mechtronix World Corporation

    Headquartered in Montreal, Mechtronix World is the fastest growing
designer and manufacturer of flight simulators. Backed by the Caisse de dépôt
et placement du Québec, Canada's largest institutional investor, as well as
RCL, a leading Canadian private equity firm, Mechtronix World ranks in the
top-3 of the global flight simulator market, with a presence in America,
Europe and Asia. Through 20 years of passion and dedication, Mechtronix has
developed a unique expertise and proved extensively its vision and leadership
for flight training. Worldwide customers include major airlines, training
centers and training organizations such as CAFUC, Center Air, Copa Airlines,
IFTC Istanbul (Gozen Group), JAL training center, Japan Airlines, Lufthansa
Flight Training, Oxford Flight Training, Northwest Airlines, TACA Airlines and
University of North Dakota. Mechtronix offers a full range of products from
full flight simulators to flight training devices setting new industry
standards for higher fidelity, reliability, cost efficiency and safety.
Mechtronix World is also the only manufacturer which actively provides
services for both commercial and general aviation including support for
customers to set-up their own tailor made training solution at home.

For further information:

For further information: on Mechtronix World, please visit or contact: Mechtronix: Adeline Gautier, Marketing
Director, (514) 342-0800,; Media Relations US: J.
Dans, Rogue Wave Creative Group, (914) 393-7758,

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