ESCONDIDO, Calif. (KGTV) -- Police in Escondido have made an arrest in connection with a cold case homicide that happened in 1986.

Police said at a news conference that Nathan Eugene Mathis, 62, was arrested for the 1986 murder of 75-year-old Richard Finney.

According to police, Finney was stabbed more than 30 times at his apartment on November 13, 1986.

The case was reopened in 2007 by a retired detective and FBI agent. After reopening the case, authorities say they were able to come up with a blood profile.

"We made a promise to that family several years ago that we'd do everything we could to solve the brutal slaying of their 75-year-old grandfather," said Chuck Gaylor, a cold case investigator.

During the news conference, police said blood and a fingerprint found at the scene matched Mathis.

Mathis was arrested after police obtained a search warrant.

Finney's family says they are glad justice is finally being served.

"Never thought the day would come. It's been 32 years so finally to have this happen is just fabulous! I'm just sad my mom and uncle aren't here with us because this would mean a lot to them," said Gina Curry, one of Finney's grandchildren.

A preliminary hearing for Mathis is scheduled for May 3.

Watch the full news conference in the player below: