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FOR IMMEDIATE RELEASE
September 10, 2004
Solis Capital Partners, LLC Acquires MRO Business from Spirent plc
SAN DIEGO, CA – Private equity firm Solis Capital Partners,
LLC (“Solis”) has acquired, MIRO Technologies, Inc.
(“MIRO,” formerly known as Spirent Systems– San
Diego and WPDS Software, Ltd., collectively the “MRO Business”)
from Spirent plc, the U.K. based communications technology company
(LSE: SPT, NYSE: SPM). MIRO provides software and related services
for ground-based logistics and asset maintenance, repair and overhaul
(MRO) for the aerospace, defense and commercial aviation markets.
Headquartered in La Jolla, CA, MIRO Technologies also has offices
in Yeovil, Somerset U.K.
“We are very excited about our investment in MIRO Technologies,”
said Dan Lubeck, Managing Director of Solis. “MIRO fits squarely
within our investment criteria. It is a growing company which leads
its niche in a growing market,” he continued.
The management team and employees of MIRO will remain in place.
“We are very pleased with the Solis transaction” said
Vincent Monteparte, Chief Executive Officer of MIRO. “Our
new name, “MIRO,” means “to look or to observe”
in Spanish. This name reflects the visibility we provide our customers
for managing the lifecycles of aircraft and other complex assets.
We expect that our customers will benefit from our renewed focus
and the resources and support that Solis brings.”
MIRO Technologies (www.mirotechnologies.com)
has been providing ground –based logistics and asset maintenance,
repair and overhaul (MRO) software for over 20 years. MIRO has a
broad based portfolio of products and services aimed at supporting
the aerospace, defense and commercial aviation markets worldwide.
Founded in July 2002, Solis Capital Partners, LLC (www.soliscapital.com)
is a disciplined buyer and builder of high quality, middle-market
companies in the manufacturing, services, value-added distribution
and technology sectors.
Contact:
Melodi Blazi
Marketing Department
MIRO Technologies, Inc.
858-677-2100
858-554-0875 fax
melodi.blazi@mirotechnologies.com
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