Verdero Capital, LLC Acquires Starfire Systems, Inc.

Oct 22, 2010, 13:21 ET from Verdero Capital, LLC

NEW YORK, Oct. 22 /PRNewswire/ -- 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.

About Verdero Capital, LLC

Headquartered in New York City, Verdero Capital is a private investment firm focused on acquiring and restructuring distressed businesses with opportunities for growth. Combining inspired ideas, strategic management, and financial backing, Verdero offers solutions for companies challenged by the need for immediate change.

Verdero approaches each company with a customized strategy and works alongside existing management in an effort to improve the business. Experience, swift decision making, and a deep capital base make Verdero the resource of choice for the distressed business community.

About Starfire Systems, Inc.

Starfire Systems, Inc. is a specialty materials and prototyping company focused on Polymer-to-Ceramic™ technology. The company supplies specialty silicon-based molecules, ceramic forming polymers, engineered systems, and prototypes.

With 20 years of experience in polymer chemistry and materials science, the company creates engineered material systems allowing customers to mold near net-shaped components. These components can then be converted to ceramic products using inexpensive equipment.

SOURCE Verdero Capital, LLC