DUNEDIN, Fla., June 23 /PRNewswire-FirstCall/ -- Vought Defense Systems Corporation. (Other OTC: VDSC), today announced that it has agreed to engage Windstone Capital Partners, Inc. to secure the funding commitment necessary to complete the acquisition of Quality Performance, Inc. (http://www.goqpi.com/).
Ed Salmon stated "We are excited about working with Windstone Capital Partners. Our engagement with Windstone Capital Partners moves us toward the final step in closing the Quality Performance, Inc. acquisition. We believe the anticipated synergy between Vought's existing Redtide Defense business and Quality will generate significant shareholder benefit."
About Vought Defense Systems Corp.:
Vought Defense Systems Corp. is a holding company which owns and operates through its wholly owned subsidiary, Redtide Defense Group, Inc. (http://www.redtidedefense.com/) which is a manufacturer of UAV (Unmanned Aerial Vehicles). The Company has created an inexpensive and, it believes, technically superior solution to the growing $6 billion dollar a year worldwide market demand for UAV's. The Company is looking to grow both organically and through strategic acquisitions. In conjunction with this acquisition, Vought's name will be changed to ALAS Defense Corporation (Air, Land and Sea) www.alasdefense.com to better reflect its overall mission.
About Quality Performance, Inc.:
Founded in 1990, QPI sells products to government and commercial customers in the United States. QPI also provides life cycle product support services including maintenance services for its products. Services include program management, engineering and technical support, installation and checkout support on site, factory training, spare parts logistics support, technical documentation, and depot-level maintenance repair. QPI's largest customer is the United States Navy.
About Windstone Capital Partners, Inc.
Windstone Capital ("Windstone") is a specialized Financial Advisory and Merchant Banking Firm, providing the highest quality Investment Banking services including institutional financing, merger, acquisition and divestiture for small to medium-sized private and public companies. Based in Scottsdale Arizona, with an office in Portland Oregon, the partners have raised over $350M in the past five years for emerging growth companies and $1 Billion collectively in Capital and M&A transactions. Windstone's services include; (i) capital market placements for emerging growth companies; including venture capital, private equity and recapitalization's (ii) merger and acquisition services; including strategic sale, buy-side and sell-side representation (iii) business valuation and CFO services (iv) merchant banking; including principal transactions in profitable lower middle market entities.
Windstone's market focus is on technology and other knowledge based companies in the all of Western States, including Arizona, California New Mexico, Colorado, Utah and Texas. Windstone's capital markets focus is on institutional placements of growth equity and debt of between $10 and $250 million as well as merger and acquisition services for small and mid size organizations. Windstone's Merchant Group makes direct control investments in closely held basic industry and service oriented companies.
Safe Harbor Act Disclaimer: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
SOURCE Vought Defense Systems Corp.