MERCHANT BANC PARTICIPATES IN THE MANAGEMENT BUY-OUT OF OuterLink CORPORATION
Lowell, MA – August 9, 2007
Mobile asset management solution certified for four Eurocopter civil aircraft models
OuterLink Corporation today announced the participation of MB Growth Partners II, LP in the management purchase of the company. MB Growth Partners II, LC joined Newcomb Communications in the company buy-out of the mobile asset management solutions provider. MB Growth Partners II, LP is a private investment fund under the management of MerchantBanc, LLC. Newcomb Communications is the venture of OuterLink founder Paul Newcomb.
OuterLink Corporation’s mobile asset management solutions provide secure, real-time location tracking and two-way messaging to strategically manage the operation of air, land and marine vehicles. OuterLink solutions enhance the safety and visibility of routine travel, and provide the information and technology required to deploy effective crisis readiness, response and recovery missions. Since 1991, OuterLink has deployed 2000 units in government, air taxi and aero medical aircraft and vehicles, accumulating over one million flight hours experience.
“OuterLink is a company that has terrific growth potential in a very well defined and evolving niche,” said Frank Pinto, managing director, MerchantBanc. “Economic and security pressures have created a large and growing need for better tracking of mobile assets. OuterLink offers the best solution worldwide.”
MB Growth Partners II, LP is MerchantBanc’s second private investment fund. The partnership invests in later-stage entrepreneurial companies that are well positioned to grow revenues from $5 million to $20 million or more in three to five years. Investments are structured to finance acquisitions, fund growth or both.
About MerchantBanc LLC
MerchantBanc, LLC manages private investment funds specializing in acquisition financing and growth funding for later-stage entrepreneurial companies throughout New England. The firm currently manages two funds, MerchantBanc Venture Partners, LP and MB Growth Partners II, LP. The partnerships are capitalized by leading banks, university endowments, development companies and individuals throughout New England.
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