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 Innovative Power Products Inc. (“IPP”) management to recapitalize the Company. Financial terms of the transaction were not disclosed.
IPP is a premier design build manufacturer of custom and standard, high power, RF and microwave passive components, founded in 2005 and headquartered in Hauppauge, NY. Areas of expertise include baluns, couplers, combiners and dividers, transformers, resistors, and related custom products. The business combination and recapitalization provide a long-term capital base to support ongoing and rapid growth of the business.
“The combination of CPC and IPP creates an exceptional opportunity to design integrated system solutions through our highly complementary capabilities, product portfolios and industry applications," said Tom Passaro, President of IPP. " We see significant opportunities to further serve the customer base while scaling the platform and are enthusiastic about the possibilities."
About IPP
IPP is a US based, vertically integrated, design-build manufacturer of custom and standard, high power, RF and microwave passive components for aerospace and defense, industrial and medical applications. For additional information, please visit www.innovativepp.com.
About CPC
CPC is a US based, vertically integrated, design-build manufacturer of custom RF and microwave power amplifiers, antenna and related components for defense, covert, scientific, medical and transportation applications. For additional information, please visit www.cpcamps.com and www.sti-co.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.