March 31, 2008 - The RapcoHorizon Company, a whole owned subsidiary of VTG Holdings Inc., announced today that they have signed a definitive sale agreement as of February 29th, 2008, with RHC management, in conjunction with Midwest Mezzanine Funds, and Busch O‘Donnell Capitol Partners, both equity investment groups, 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, www.rapcohorizon.com, is a market leader in audio, video and data cable manufacturing for the audio retail, A/V installation, Home Theater, and Datacom 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.” said Dale Williams, President of RHC Holding Corp. “With our new investment partners beside us, we can now explore many of these untapped opportunities with a new fervor and enthusiasm.
Lisa Williams, the 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 Scott Wachter, VTG‘s CFO will resume as president of Major Custom Cable, www.majorcustomcable.com , the Data/Telecom manufacturing business unit which provides fiber optic cables, as well as copper data cable assemblies to the system integrator markets.
About RHC Management:
RHC Holding Corp. will continue to own and operate 7 facilities in Missouri, Texas, Mexico, Massachusetts and Canada. RHC Corporate offices, main manufacturing plants, and Major Custom Cable facilities are all located in Southeastern Missouri. N.A.F.T.A. Inc., a manufacturing facility in Del Rio Texas, and Ciudad Acuña Mexico, operates as a Maquiadora, and provides labor for OEM customers that service many other markets. Horizon Wire and Cable in Leominster Massachusetts is the wire and cable extrusion facility for the entire RHC Holding group, and provides sales to OEM customers as well. Rapco Professional Sound in Toronto Canada provides direct distribution and manufacturing of RHC products for those customers located in Canada.
About The RapcoHorizon Company:
The RapcoHorizon Company, located in Jackson, Missouri, is one of the world‘s largest manufacturers and suppliers of audio, video, home theater, data and telecommunications cable in both bulk wire and assemblies. Used worldwide by concert touring sound companies, video and sound contractors, recording studios, system integrators, audiophiles and musicians, The RapcoHorizon Company's products provide optimal flexibility and premium performance. The company‘s state-of-the-art Custom Shop can modify existing products or build new devices to meet any need. For more information, please visit The RapcoHorizon Company‘s Web site at www.rapcohorizon.com.
About Major Custom Cable:
MCC, located in Jackson, Missouri, is a leading manufacturer of both copper and fiber data communications cable assemblies. MCC offers a complete line of copper patch cords (including Cat 5E and Cat 6), Telco cables, peripheral interfaces and a complete line of fiber patch cords, including multi-mode, single-mode, laser optimized and angle and ultra polishes. MCC‘s products are used worldwide by integrators, installers, IT managers and technicians. The company can build any product to custom specifications or build entirely unique cable assemblies. All of MCC‘s products are available through local authorized distributors. For more information, please visit MCC‘s Web site at www.majorcustomcable.com.