Gowanda, NY – May 6, 2011
Gowanda Electronics Corp. announced today that a recapitalization of the company was accomplished with Addison Capital Partners. First Niagara Bank and Banyan Mezzanine provided financing for the recapitalization.
“This transaction strongly positions Gowanda for the future by adding complementary partners to our organization. Specifically, the recapitalization adds resources to Gowanda that we deemed critical in order to optimize the growth trajectory in our key markets in which we have seen sustained growth”, said GEC CEO, David Schaack.
Headquartered in Gowanda, NY, Gowanda Electronics designs and manufactures application- specific and standard inductors for RF, microwave and power applications in the OEM marketplace. For over 40 years, GEC’s technical expertise, custom capabilities, lead and lead- free (RoHS) designs and ISO, QPL, AS and other certifications have established the company as a leading supplier of high-performance magnetic and non-magnetic components. Key markets serviced include Medical & Diagnostic Equipment, Military & Defense, Aerospace, Test & Measurement, Communications and other industrial applications. Product offerings include Thru-hole & Surface Mount RF Inductors, Pot Cores, Thru-Hole & Surface Mount Toroid Inductors & Transformers, Tunable Coils, Power Magnetics, Common-Mode Chokes, Transformers, Micro & Ultra-miniature and Ruggedized designs.
Addison Capital is a private equity investment firm that seeks out partnerships with owners and operators of lower middle market growth companies to provide liquidity, growth capital and management resources to grow and build exceptional enterprises. More information on Addison Capital can be found at www.addisoncapitalpartners.com.
For more information on this transaction, please contact David Schaack at dschaack@gowanda.com or (716) 532-2234.