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  Excalibur Electronics
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   Author  Topic: Excalibur Electronics  (Read 1145 times)
marko
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Re:Excalibur Electronics
« on: December 6, 2009, 05:06PM »
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Yes, it appears that Shane Samole is the president of the new enterprise funded by the Cortec Group. The complete press release is here:
http://www.cortecgroup.com/news/release.aspx?newsid=45

The chess products page on the new Excalibur website is:
http://www.excaliburelectronics.com/catgry-chess.html
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Mephisto
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Excalibur Electronics
« Reply #1 on: December 6, 2009, 05:03AM »
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Hi
This morning I received Eric Hallsworths excellent 'Selective Search' magazine and in it Eric states that Excalibur Electronics have ceased trading and obviously can't purchase any computers anymore. I do know that last August there was a big auction in Miami, USA involving Excalibur and I have found the following about then being bought out which indicates that they might still be trading afterall?

July 7, 2009
EB Excalibur Completes Acquisition of Certain Assets of Excalibur Electronics


New York — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market manufacturing, distribution, and proprietary service businesses, announced that EB Excalibur, Inc, ("EB Excalibur"), a portfolio company of Cortec's affiliate, Cortec Group Fund IV, L.P. ("Cortec Fund IV"), has acquired certain assets of Excalibur Electronics, Inc. ("Excalibur").

Excalibur is a leading designer and marketer of high-margin, niche consumer products including sports, chess and other electronic games, highly engineered radio controlled vehicles, educational products, outdoor living products, tool kits, and home and office accessories. The company's products are marketed under well-recognized company-owned brands and licenses including Excalibur, Einstein, Fox Sports, NFL, and The Weather Channel, as well as under certain customer private brands.

The Excalibur assets acquired include the intellectual property, molds, and tooling for the Excalibur product line. The acquisition was completed as part of a Section 727 Assignment for the Benefit of Creditors process in the State of Florida. EB Excalibur did not purchase any Excalibur contracts, inventory or accounts receivable, nor did EB Excalibur assume any liabilities of Excalibur.

Importantly, EB Excalibur has hired key members of Excalibur's senior leadership team, including Shane Samole, President, Mike Catena, Executive Vice President, other tenured commercial team members, new product development staff, and customer support members.

Maybe one of our American readers can verify the situation.
Regards
Bryan
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