For Release No Earlier Than April 11, 2008 ONLY
For Further Information contact: Frank Felicella (210) 545-2900
APOLLO GATE OPERATORS, INC. ANNOUNCES CHANGE OF CONTROL
Apollo Gate Operators, Inc., headquartered in San Antonio, Texas, has announced a partnership has been reached with Nice SpA* with headquarters in Oderzo, Italy. Apollo Gate Operators, Inc. will be a subsidiary of Nice USA.
Apollo Gate Operators, Inc., founded in 1984, provides the most dependable line of gate operators and accessories available, and is the number one source for solar gate operators, selling through a nationwide distribution network.
The Nice Group, founded in the early ‘90’s, produces advanced automation systems that are simple to install and use from motors to accessories and control systems for gates, garage doors, barriers, awnings and rolling shutters at the click of a button. Nice’s products are sold in over 100 countries of the world, with subsidiaries in Italy, France, Spain, Poland, Belgium, Germany, China, Rumania, Great Britain, Australia, Turkey, Portugal, South Africa, and the United States (Jacksonville, Florida).
Lauro Buoro, founder, Chairman and CEO of Nice SpA, in reviewing the corporation, commented “We are really pleased to announce this partnership with Apollo Gate Operators. Nice has teamed technological innovation with design to offer unbeatable ease of use and become one of the major international names on the home automation market. Partnering with Apollo will allow an increase in product offering in time to the Americas, and additional integration of European designs, engineering upgrades and research and development capabilities. We are particularly satisfied that Apollo management will stay in place. Frank Felicella’s 44 years of management experience and Mark Larson's (Vice President of Sales, Apollo Gate) expertise in the gate operation industry are important assets to this company and its continued future growth.”
Frank Felicella, formally CEO and Chairman of Apollo Gate, Will become CEO of Apollo Gate Operators, Inc. “The partnership with Nice brings additional liquidity, design, engineering and a world wide market to Apollo Gate. This combination of technology will allow both companies the distribution key to growth in the Americas. The recognition of the niche for Apollo Gate in the United States for its product quality in 12 volt and solar, customer service, and distribution will be an extremely important asset to Nice” said Felicella.
Nice SpA will own the majority of the company. Apollo Gate operations will remain and increase its headquarters size in the San Antonio market. For more information on both companies, access www.apollogate.com and www.niceforyou.com .
Fredericks Michael and Co., in New York, New York, acted as financial advisors to Nice SpA in regard to this transaction.
*SpA (Societa’ per Azioni = Public Limited Company)
Printable News Release
Apollo Gate Operators, Inc. Announces Change of Control