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A Kelowna business has hit payday.
Impact Radio Communications is on the verge of being bought by Founders Advantage Capital Corp. for $12 million.
A letter of intent for the acquisition would give FA Capital a controlling 52 per cent majority interest, while Impact would retain 48 per cent.
The deal is subject to closing adjustments and is expected to close by March 31, 2017.
The company manufactures and distributes two-way radio accessories and sells through more than 1,000 dealers throughout North America.
Its products are being used by big names in public safety, military, security, retail and hospitality organizations.
Impact founder Keith Kostek said he’s looking forward to working with FA Capital to continue growing.
“The FA team truly understands the unique aspects of an owner operated business, and their structure aligns well with my goals as a founder and the changing needs of the business,” he said.
Kostek will sit on the board of directors.
