ASHEVILLE, N.C., June 18, 2013 /PRNewswire/ -- Ken Glass, chairman and founder of the TECT family of businesses and Stony Point Group, announced today the launch of a new investment and management company, Cold Mountain Capital, LLC. The company will be headquartered in Asheville, N.C., and led by aerospace and private equity veteran David Nolletti.
"The formal launch of Cold Mountain Capital marks the beginning of a new phase of investments for our companies," said Glass. "Over the past 18 years we have been extraordinarily successful growing the TECT family of businesses through acquisition and organic expansion. Now, with Cold Mountain, we are going to continue to leverage our aerospace industry and operating expertise by conducting acquisitions outside of the TECT platform."
"David Nolletti is exceptionally qualified to lead Cold Mountain as president and chief executive officer," Glass continued. "In his 11 years with Stony Point and TECT, Nolletti has been successful in varied positions of increasing responsibility including sales, marketing, general management, interim-CEO and member of the board of directors with multiple assignments as lead director. His energy and leadership will be instrumental in the long-term success of this business."
In the two years prior to its official launch, Cold Mountain acquired two portfolio companies in partnership with Cotton Creek Capital Management, LLC, of Dallas, Texas. In March 2011, Cold Mountain and Cotton Creek acquired Graco Supply & Integrated Services, a value-added distributor of aviation consumables, and in October 2011, AirReady MRO Services, Inc., an FAA Part 145 repair station that specializes in flight control, door, nacelle and thrust reverser repairs on commercial and military aircraft.
About Cold Mountain Capital
Cold Mountain Capital is privately held and is focused on passive and private equity investments. CMC's portfolio exists of Graco Supply & Integrated Services (www.gracosupply.com), AirReady MRO Services, Inc. (www.broadwingrepair.com), Watia Creek Farms, LLC, Sandy Gap Cove, LLC and Hunter's Ridge, LLC. More information on Cold Mountain Capital can be found at www.ColdMountainCapital.com, or you can call David Nolletti, president and CEO at +1-828-210-8127.
SOURCE Cold Mountain Capital, LLC