The RapcoHorizon Company, a wholly owned subsidiary of VTG Holdings Inc., signed a definitive sale agreement as of February 29, 2008 with RHC management, in conjunction with equity investment groups Midwest Mezzanine Funds and Busch O’Donnell Capitol Partners, for the sale of the company’s stock and assets. The terms of the agreement were not disclosed.
VTG Holdings Inc., stock and all assets have transferred to the newly formed RHC Holding Corporation.
The RapcoHorizon Company manufactures audio, video and data cable for the audio retail, A/V installation, home theater and data/telecom markets. RHC Holding Corp. provides interconnectivity products with revenues exceeding $65 million annually.
“This purchase of the company will now provide management an opportunity for much more involvement in future development strategies with regards to expansion into new markets, acquisitions strategies, and furthering the development of our existing markets,” says RHC Holding Corp. president Dale Williams. “With our new investment partners beside us, we can now explore many of these untapped opportunities with a new fervor and enthusiasm."
Lisa Williams, senior executive vice president of sales and marketing, takes over as president of the RapcoHorizon Company, the A/V cable manufacturing arm of the business; and VTG CFO Scott Wachter will resume as president of Major Custom Cable the data/telecom manufacturing business unit that provides fiber-optic cables, as well as copper data cable assemblies to the system integrator markets.