Thursday, November 29, 2012
Roynat Equity Acquires SkyTrac Systems
SkyTrac Systems has been purchased by a group of company employees and Canadian investment firm Roynat Equity Partners, the company said Thursday. Financial terms of the transaction were not disclosed.
The acquisition team included SkyTrac’s current director of product development, Malachi Nordine, who will become the new company president, succeeding SkyTrac co-founder Kathleen Wallace.
Wallace said she was “extremely pleased” with Roynat’s strategic growth plan to expand SkyTrac’s business. The company’s products have been installed on rotary and fixed wing aircraft types from Eurocopter, Sikorsky, Cessna and more.
“The market leading systems developed by SkyTrac over the last 10 years in conjunction with our customers have had extraordinary success. I am very happy to see that the new owners have recognized this exciting potential for growth,” said Wallace.