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Wingspire Capital Provides $46MM Credit Facility to EMCORE for Add-on Acquisition

September 13, 2022, 07:50 AM
Filed Under: Specialty Industries

Wingspire Capital provided a $46 million senior secured credit facility to EMCORE Corporation to facilitate EMCORE’s recent acquisition of the Inertial Navigation Systems and Fiber Optic Gyroscope business segment from KVH Industries.

EMCORE is now the world’s largest independent provider of inertial navigation to the aerospace and defense market, including FOGs (fiber optic gyroscopes), RLGs (ring laser gyroscopes), Quartz MEMS, and tactical navigation. The company also supplies defense optoelectronics, ultra high-speed broadband and advanced data center chips that power the cloud, optical sensors, CATV and fiber optic transmission systems, and lasers and components.

“Our team worked closely with the senior leadership team at EMCORE and their advisors to structure a flexible and creative transaction which required certainty to close within a tight timeline,” said John Rosin, the President & COO of Wingspire.

“We appreciated the attentive focus, expertise and the swift action that the entire Wingspire Capital team brought to this transaction,” said Jeff Rittichier, President and CEO of EMCORE, which is headquartered in Alhambra, California.

Cowen served as financial advisor and Pillsbury Winthrop Shaw Pittman LLP served as legal advisor to EMCORE on the transaction.

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