Date: Nov 19, 2019 Source: Company Press Release (
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Columbia River Partners (CRP), a new private investment firm, announced the closure of its first transaction -- the carveout of the avionics division from a company in receivership. Based in White Salmon, WA, the new company, Sagetech Avionics Corp ("Sagetech"), is a leading global provider of robust miniature avionics for unmanned aerial systems (UAS) - drones.
"Our acquisition of Sagetech Avionics illustrates our broader investment thesis," said Nathan Chandrasekaran and Pooneet Goel, both partners of CRP. "We believe there is a tremendous opportunity to work with talented executives to identify and invest in businesses going through transition, whether its technology, people, or special situations. Sagetech offers several platforms for transponders, a critical component for anyone using drones for both commercial and military applications. The company has a blue-chip set of customers and strong product roadmap. We are excited to add Sagetech to our portfolio and look forward to working with the management team."
The company's products meet the most demanding technical and environmental specifications required by military and commercial agencies. Sagetech's transponders have long been used to facilitate military operations worldwide, logging over 1.5 million combat flight hours. The CRP team will utilize its technology expertise and network to help further expand the company's product portfolio, the engineering capacity and global reach.
Tom Furey, CEO of Sagetech Avionics stated: "Columbia River Partners have brought far more than capital to Sagetech Avionics. With diverse experiences from a wide-range of private equity and venture capital deals, as well as their own personal business successes, Nathan and Pooneet know how to grow a company. They're not afraid to roll up their sleeves and help with the heavy lifting. Together we're taking a traditional aerospace company and adding a twist of Silicon Valley to make it great. Our future potential is much greater with Columbia River Partners at our side."