FOR IMMEDIATE RELEASE
August 18, 2014
Sembol Systems Has Been Acquired By Rit Tek
Richmond, KY –Transact Capital Partners is pleased to announce the acquisition of Sembol Systems, Inc. by Rit Tek, LLC. Transact Capital served as the financial advisor to Sembol Systems.
Since 1978 Sembol Systems has been known for its precision machined parts as a contract manufacturer. Sembol CEO Tangerine Manning recalled her late father, J. P. Manning’s one motto, “Quality is never having to say you’re sorry.” Rit Tek’s Managing Member, Mike Ritter said that he planned to continue that tradition, saying that “J. P. will be proud as we continue to focus on quality.”
Fred Doster, Senior Vice President of the Lexington, KY office of Transact Capital Partners brokered the deal and commented: “Rit Tek will be able to leverage the customer and employee base to grow their business. Doster has a background that includes Financial Management in manufacturing operations similar to that of Sembol Systems.
Transact Capital Partners is an independent mergers and acquisitions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Tidewater, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102 or send an e-mail to Steve at Steve@TransactCapital.com
7400 Beaufont Springs Dr.
Richmond, VA 23225