Sea Star Group Inc. acquires Riley Technologies

Gulfstream Mergers & Acquisitions Inc. is announcing today that Sea Star Group Inc., (Stock Symbol SGQZ), has acquired Riley Technologies of Mooresville, North Carolina. Riley Technologies is a worldwide leader in the engineering, design, ...

Gulfstream Mergers & Acquisitions Inc. is announcing today that Sea Star Group Inc., (Stock Symbol SGQZ), has acquired Riley Technologies of Mooresville, North Carolina.

Riley Technologies is a worldwide leader in the engineering, design, and manufacturing of high-tech products for the racing industry. Riley Technologies has an extended legacy of success, developing competitive on-track products for the Rolex Sports Car Series, the American LeMans Series, the USAC Gold Crown Series, and the Japanese GT Championship Series.

With a parts supply and support structure that is as strong as the cars they design, Riley Technologies has a significant presence in the racing community with an impressive record on and off the track. The long legacy of success that Riley Technologies has established has seen the firm accept invitations to lead a wide range of engineering exercises, putting the same knowledge and technology that the organization utilizes to win races to work in a wide scope of applications.

Riley Technologies projects include natural gas and fuel cell-powered consumer automobiles, automotive & racing parts, in theatre government modifications and specialized electronic systems. Riley's valuable expertise extends to the entire project, from the original concept to the design, engineering, testing, manufacturing, sales, and ongoing support for the final product.

Recently, Riley Technologies proprietary Track Day Car emerged from the Ultimate Track Car Challenge as the fastest entry by a significant margin as a wide field competed for the honor at Virginia International Raceway in Danville, Virginia, USA.

Riley Technologies-designed and manufactured Daytona Prototypes have dominated the fabled Rolex 24 At Daytona with consecutive victories in the annual event stretching back to 2005. In addition, the firm's GT-Class design has also raced into the Rolex Sports Car Series victory lane countless times, with Riley Technology also securing the Manufactures Championship for the last five years running.

The firm will bring an iconic name back to the track this fall as the Riley Technologies-designed Chevrolet Camaro racer will debut in Grand-Am's KONI Sports Car Challenge in October.

Sea Star Groups' Director is Bob Riley who began working on the Saturn rocket program in the early 60's before moving into the racing industry. Car & Driver magazine calls Bob Riley, "America's most prolific and successful designer of racecars."

Between Bob and the 3 officers of Sea Star Group there is over 100 years of engineering, manufacturing, and design expertise in multiple disciplines.

Sea Star Groups' President is Bill Riley, a mechanical engineer whose reputation is well known for being involved in some of the fastest and safest cars in the world.

Sea Star Groups' Officer Ron McMahon also is degreed as a mechanical engineer and has over 40 years experience in overseeing manufacturing and business operations of several companies. Ron has extensive success in the use of efficient manufacturing techniques and controls, while retaining state of the art quality.

Sea Star Groups' third Officer is Ken Swan, who not only plays a key role in the Riley Technologies headquarters in Mooresville, but also has an extensive background of team management in race action.

Riley Technologies selected Gulfstream Mergers and Acquisitions to value the company and locate an ideal merger partner.

Jim Kniffen, President of Gulfstream Mergers & Acquisitions with over 16 years experience in valuation, completed the valuation of Riley Technologies. Riley Technologies is valued at $12.3 Million. The acquisition of Riley Technologies to Sea Star Group Inc. was facilitated by Gulfstream Mergers & Acquisitions.

-credit: rileytech.com

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