Business news : Wing Inflatables, The californian RIB manufacturer sold to private equity firm

Wing Inflatables acquired by Armada Acquisition Group
                   
Wing Inflatables has been acquired by Armada Acquisition Group. Terms were not disclosed.
                   
A statement says that the Arcata, California-based supplier of tubes, sponsons and foam collars to the high-end RIB market has recently launched a new series of RIBs for the Special Forces market.
                   
"Our new combat raiding craft, the P4.7 and P5.8, brings Wing into new markets and into a new level of growth," said Elizabeth Wing, vice president of Wing Inflatables in a statement. "The time was right to bring in new resources that can help manage the growth, not only domestically but worldwide.”
                   
Andrew Branaugh, president of Armada Acquisition Group, called the inflatable company an “exciting” investment. “The company remains the undisputed leader in its core market of providing tubes and sponsons, yet it also has a very promising growth opportunity with the new combat raiding craft,” he said in the statement.
                   
Woodbridge International, headquartered in New Haven, Connecticut, brokered the deal.

Source IBI