The company recently completed a recapitalization with Addison Capital Partners.
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25 July 2011 (Gowanda, NY, USA) – Gowanda Electronics, a designer and manufacturer of precision electronic components for RF and power applications, recently completed a recapitalization of the company with Addison Capital Partners. The new structure will enable Gowanda to accelerate its plans for growth in strategically important products and markets.
David Schaack, Gowanda’s CEO said, “We are very excited about this announcement and what it means to our suppliers, customers and business partners. Gowanda is now stronger than ever, with access to financing tools and management skills which will help us take advantage of new technologies and market opportunities. We are looking forward to leveraging Gowanda’s existing and newly acquired strengths to advance the company in the global electronic components marketplace.”
First Niagara Bank and Banyan Mezzanine provided financing for the recapitalization.
Terms of the arrangement were not disclosed.