McLaren Performance Technologies Enters Into Financial Alliance
With New York-based CapitalKey Securities, LLC
To Pursue Far-Reaching Acquisition Strategy
LIVONIA, Mich., Aug. 9 /PRNewswire-FirstCall/ --
McLaren Performance Technologies (Nasdaq: MCLN) announced that it has
retained, as placement agent, CapitalKey Securities, LLC, a New York-based
investment bank which is focused on the middle market.
CapitalKey will act as the company's agent in securing funds to support
McLaren Performance Technologies ongoing acquisition strategy. In addition,
both firms will work together to identify additional acquisition candidates as
McLaren Performance looks to expand its base of operations still further. The
initial placement contemplated is on the order of $5.0 to $7.5 million.
McLaren Performance Technologies provides full-service design,
development, fabrication, manufacturing, testing, validation and certification
of automotive and racing powertrains, and related components. The company was
originally established in 1969 as the engine development company for Bruce
McLaren Motor Racing. Most recently, it acquired Dart Machine, Ltd. in
Oldcastle, Ontario, Canada -- a specialty machining source, which has since
been re-designated McLaren Performance Products. See
www.mclarenperformance.com for additional details.
CapitalKey Securities, LLC provides small and emerging businesses with
professional advice and access to venture capital and private equity funds.
Visit www.capitalkey.com for further information. |
