November 28, 2012
Nov. 28, 2012, Kelowna, B.C. - SkyTrac Systems has announced that a group composed of Malachi Nordine, SkyTrac’s current director of product development, Stephen Sorocky and Roynat Equity Partners, has purchased the business of SkyTrac Systems from Kathleen Wallace, the Founder of SkyTrac.
Nordine, who joined SkyTrac in 2007, will succeed Wallace as the President of SkyTrac. “I am extremely pleased with the quality of this group and their strategic plan to continue to grow SkyTrac. The market leading systems developed by SkyTrac over the last 10 years in conjunction with our customers have had extraordinary success. I am very happy to see that the new owners have recognized this exciting potential for growth,” Wallace said.
Sorocky will be appointed to the Board of SkyTrac Systems and brings extensive industry and business development experience in high growth and aerospace industries. He was previously CEO of a number of high growth technology companies, the Vice President and General Manager of Spar Space Systems and is currently a Board member of the Canadian Commercial Corporation, a Crown Corporation responsible for $2.6 Billion of defence and aerospace exports.
“We are very excited with our new partners – Roynat Equity Partners and Stephen Sorocky. Our new financial strength combined with deep industry knowledge will ensure that we continue to provide our customers with best in class products and service offerings,” said Nordine.
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