Learn more at About Armory Capital, LLC Armory Capital is a family investment office based in Champaign, Illinois. California is also home to the RC car design center (Corona), a west coast distribution center in Ontario, and the Athearn model train group (Long Beach). Additional distribution centers are in Ontario, California Harlow, England (site of Horizon Hobby Ltd.) and Elmshorn, Germany (site of Horizon Hobby GmbH). Corporate headquarters, along with the main distribution facility and product service center, are located in Champaign, Illinois. An employee-owned company, Horizon employs nearly 700 people and sells products in more than 50 countries around the world. is an international developer, marketer and distributor of radio control (RC) hobby products, model trains and other hobby products. My brother Larry and I are pleased that our new investors agree with our approach, and we believe this transaction presents a tremendous opportunity for our employees.” The transaction, which is expected to close in January, 2014, is subject to customary regulatory approval. Over the years we pursued our mission ‘To help people have fun with hobbies’ by providing our consumers innovative products backed by the highest levels of service. This acquisition will provide us with the capabilities to help us grow, ensuring a bright future for our employees.” Rick Stephens, founder of the company said, “When we founded Horizon Hobby we sought to instill a culture of respect for Horizon’s employees, customers, and partners. We intend to continue to focus on providing our many hobby enthusiasts with exciting and innovative hobby products. “We believe that this transaction will be seamless to our retail partners and consumers. In addition, Horizon’s current management team will be retained, which will enable us to continue the successful culture that has been developed by our founders and dedicated employees. This transaction will give us a capital structure that will enable us to pursue our growth strategy well into the future. “Both Armory Capital and Mill City Capital are long-term investors who are uniquely aligned with Horizon’s culture, core values and strategy. "We are delighted to announce this transaction, which will help us grow and provide continuity,” said Mr.
The investment group includes Armory Capital, LLC and Mill City Capital L.P., two investors that have deep experience with management-led acquisitions. " CHAMPAIGN, ILLINOIS-December 9, 2013- Horizon Hobby, Inc., an international developer, marketer and distributor of radio control (RC) hobby products, model trains and other hobby products, announced today that its board of directors has signed a definitive agreement under which Horizon Hobby would be sold to an investor group led by Joe Ambrose, Horizon’s Chief Executive Officer.
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