WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Addison Capital Partners (“ACP”) announced today that Communication Power Companies (“CPC” or the “Company”), an ACP portfolio company, has partnered with STI-CO Industries (“STI-CO”) management to recapitalize the Company. Financial terms of the transaction were not disclosed.
STI-CO is a premier design build manufacturer of custom, mission-critical and tactical antenna solutions, founded in 1967 and headquartered in Orchard Park, NY. The business combination and recapitalization provide a long-term capital base to support ongoing and rapid growth for the business of STI-CO and CPC.
"The combination of CPC and STI-CO creates an exceptional opportunity to deliver sustainable value creation and growth through highly complementary capabilities, product portfolios and industry applications," said Kyle Swiat, President of STI-CO. "We're enthusiastic about the possibilities with CPC and ACP."
About STI-CO
STI-CO is a US based, vertically integrated, design-build manufacturer of custom, high performance, antenna systems for covert, military and transportation applications. For additional information, please visit www.sti-co.com.
About CPC
CPC is a US based, vertically integrated, design-build manufacturer of custom RF and microwave power amplifiers for military, industrial, scientific and medical applications. For additional information, please visit www.cpcamps.com.
About Addison Capital Partners
Addison Capital is a private equity investment firm that seeks out partnerships with owners and operators of “smaller” middle market growth companies, often that are closely held or family-owned businesses, to provide legacy stewardship, liquidity, growth capital and management resources to grow and build the greater enterprise. For additional information, please visit www.addisoncapitalpartners.com.