Oct 25 2010
Verdero Capital, LLC is pleased to announce the acquisition of Starfire Systems, Inc. pursuant to an order of the Bankruptcy Court of the Northern District of New York confirming Starfire's Chapter 11 Reorganization Plan.
"We are excited to be part of Verdero's portfolio," said Andrew Skinner, CEO, Starfire Systems, Inc. "The increased capital and other resources Verdero has committed to Starfire will allow us to take advantage of the significant opportunities available in the market."
Based in Schenectady, NY, Starfire currently employs a staff of 15 people and holds key patents in the area of Polymer-to-Ceramic™ technology. The company manufactures specialty polymers that are processed into high temperature, advanced ceramics, and ceramic composites. These technologies are used in a wide variety of industries such as aerospace, electronics, semiconductors, energy, and petrochemical.
Starfire's clients include some of the most demanding, cutting-edge, high-tech customers in the world, including NASA's Space Shuttle Program, which relies on Starfire polymers as a key component in the spacecraft's tile repair kits.
"Starfire is an industry leader in the Polymer-to-Ceramic™ marketplace," said Jack Goldenberg of Verdero Capital, LLC. "As a result of the successful reorganization and emergence from Chapter 11, Starfire is in a unique position to take advantage of growth opportunities for the use of its products in semiconductors and other segments of the market. We look forward to helping them achieve their enormous potential."
The company will be led by Andrew Skinner, CEO and Guillermo Borges, CTO. Andrew spent more than 15 years in General Electric's silicone products business where he held the role of Global Business Leader. He has been with Starfire since 2005 and will drive the company's direction.
Guillermo has more than 25 years of technology leadership at Johnson & Johnson and Lockheed Martin, and has played a significant role in R&D and product development at Starfire since 2006.