August 7, 2003 ? Oxford Financial Group, Ltd. of Indianapolis, announced today that it has completed the management-led purchase of all of the assets of Ontario Systems and Comtronic Systems, Inc. from Muncie, Ind.-based Ontario Corp. Wil Davis, chairman and president, and Ron Fauquher, senior vice president, the founding partners of Ontario Systems, will continue to lead the company.
?We look forward to continuing to serve our clients and helping them maintain their market-leading positions,? said Davis. ?We believe the support of Oxford Financial Group will allow us to continue to fulfill our mission to our customers, employees and communities.?
?Ontario Systems was built on the foundation of innovative products backed by exceptional customer service,? said Fauquher. ?We believe our partnership with Oxford Financial Group will allow us to continue to build on this strong foundation.?
As previously announced, there will not be any significant operational changes with the new ownership. The current management and employee teams are retained and the company will continue to provide world-class products and service to its customers from its existing locations.
?We are very excited to have identified and delivered an excellent investment opportunity like Ontario Systems to our clients,? Christopher P. LaMothe, president, Oxford said. ?Ontario Systems has a long history of developing and operating first-class receivables management information systems throughout the country. We are pleased to invest in a company with such a stellar reputation in both the industries and communities they serve.?
?We have been pleased to include Ontario Systems in our family of technology companies,? said Kelly N. Stanley, president and chief executive officer, Ontario Corp. ?We look forward to observing their further development and are delighted that they will remain part of the Indiana technology community.?
About Oxford Financial Group Ltd.
Founded in 1981, Oxford is a fee-only financial planning and investment advisory firm providing comprehensive solutions for individuals and families in a multi-family office setting. The Carmel, Ind.-based company provides a wide range of services, including financial planning, asset allocation, philanthropic counseling, due diligence in choosing and evaluating money managers, and family office services. Additionally, Oxford searches for select private placement and alternative investment opportunities for its clients seeking added diversification and enhanced returns. Client personal trust services and estate planning needs are provided through its wholly owned subsidiary, The Trust Company of Oxford Bloomberg Wealth Manager recently ranked Oxford as the #1 advisor when measured by client investable assets and #8 advisor when measured by average account size in it?s July/August 2003 annual survey of the top 300 advisors in the United States. Previously, Oxford was the featured firm profiled in their July/August 2002 edition. Oxford employs over 100 full-time associates in its Indianapolis office. For more information about Oxford Financial Group, Ltd., visit their web site at www.ofgltd.com.
About Ontario Systems
Ontario Systems provides receivables management information systems to organizations that manage large volumes of accounts receivables. These include hospitals, collection agencies, utilities and bankcard issuers. As the largest provider of receivables management products, including the FACS®, CT Vision® and Artiva™ systems, Ontario Systems is recognized as the industry leader in technology and customer service. With operations in Indiana, Ohio and Washington, it is based in Muncie, Ind. For more information, visit www.ontariosystems.com.
About Ontario Corp.
Ontario Corp. is a privately-owned, diversified technology company. Ontario Corp. operations include:
- CDS Group ? a high technology capital equipment components and contract manufacturing services company with operations in California, Texas, and the United Kingdom;
- Sherry Laboratories ? a metallurgical, plastics, food, petroleum, and environmental laboratory testing company with facilities in Indiana, Oklahoma, and Louisiana; and,
- Ontario Development ? a land development company with holdings including land used by Ontario Corp., operating companies, as well as land for sale.
