BROOKVILLE, OH Sept 7: On Thursday, August 31, the assets of Flow Dry Technology Ltd were purchased by Milestone Capital Management. A new corporation has been formed as Flow Dry Technology, Inc. with the majority owner being Milestone Capital, an $88 million private equity fund based in Washington, D.C. Several members of the management team have also invested in the new company with a minority interest.
The management of Flow Dry Technology, Inc. is very excited about the new ownership of our company. We expect to receive the full support of Milestone to grow the business in our core capabilities for the benefit of all our associates and customers in the global marketplace. We intend to continue to fully serve the needs of our customers in every aspect of innovation, service, quality, cost and delivery. We hope that you will view this change in the same positive light that we do.
While our physical address and most contact information remains the same, our remit to address has changed to Flow Dry Technology, Inc. PO Box 190, Brookville, OH 45309-0190. For electronic payments, please contact your Customer Service Representative. Please make note of this change effective immediately. Flow Dry Technology, Inc. will continue to own 100% of our subsidiary, Flow Dry, Kft. Hungary.
Due to the participation of management in the ownership of the company, we expect no negative short term or long term impact on our customer relationships. If you do have any questions or concerns at any time, please contact Flow Dry by phone (800-533-0077) or e-mail (email@example.com).