Boyington Joins Galaxy Technologies Board, Schuster Now Chairman

05/31/2012 01:51:00

Boyington Joins Galaxy Technologies Board, Schuster Now Chairman

WINFIELD, Kan. – Galaxy Tool Holding Corporation, a portfolio company of Gladstone Investment Corporation (“Gladstone Investment”), announced that retired Rear Admiral John E. (Ed) Boyington, Jr. has joined its board of directors and that of its subsidiary Galaxy Technologies Corporation (“Galaxy”). Rear Adm. Boyington’s military career includes more than 600 armed combat missions in Vietnam, the Persian Gulf, Bosnia and Kosovo. Directly after retirement, Boyington joined L-3 as a senior executive and is presently a senior executive with DRS Technologies. “The Galaxy team has done a great job of laying out a vision for Galaxy and a clear path to continue growing within the Aerospace and Defense segment. Rear Adm. Boyington brings relevant strategic insight and is an excellent addition to the board,” said Dave Dullum, President of Gladstone Investment.

 

“Ed’s deep understanding of the aerospace and defense markets, along with his proven leadership skills and overall business approach, will make him an invaluable advisor to Galaxy as it progresses through the commercial industry upturn and pursues new opportunities in military markets,” stated Andy Plyler, Galaxy’s President and Chief Executive Officer. In addition to Mr. Boyington’s appointment to the Board, Galaxy announced that Jim Schuster has been named the Chairman of the Board. “Jim is well suited to help guide Galaxy through its continued growth cycle and the implementation of its strategic plan,” continued Mr. Plyler.

 

Galaxy, located in Winfield, Kan., is a major supplier for the design, manufacturing and assembly of production tooling for the aerospace, defense and plastic markets. Major customers include Boeing, Spirit Aerosystems, Northrop Grumman, Lockheed Martin, Rubbermaid and Coleman. Gladstone Investment is the majority shareholder of Galaxy’s parent company Galaxy Tool Holding Corporation. Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations.