FIRMAMENT INVESTS IN LIGHTRIDGE SOLUTIONS HOLDINGS LLC

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Oct 05, 2023, 08:36 ET

NEW YORK, Oct. 5, 2023 /PRNewswire/ -- Firmament, a provider of customized debt solutions to both sponsor and non-sponsor backed middle market businesses, announced today an investment in LightRidge Solutions Holdings LLC ("LightRidge" or the "Company"). LightRidge is one of the leading providers of space technologies and defense mission solutions primarily for the U.S. national security community.

Trident represents the third acquisition for the LightRidge platform, which was formed in 2021 with a mission to fulfill the growing need for technology-forward, high-performance yet cost-effective national security solutions. LightRidge's existing portfolio includes GEOST, one of the leading providers of advanced space payloads acquired in 2021, and Ophir Corporation, a provider of advanced laser sensing solutions primarily to the stealth aircraft market, which was acquired in 2022.

Trident is highly complementary with LightRidge's portfolio and is well known for its reliable, resilient, and open-architecture space electronics encompassing multi-function, radio-frequency processors, software-defined radios, on-board processors, and data storage solutions for demanding military space missions. The company has also been a trusted and long-term partner for innovative, affordable C4ISR solutions that address mission-critical needs across the air, land, and sea domains.

LightRidge will continue to build on Trident's track record of innovation and investment in new solutions, leveraging an expanded base of engineering and science talent, and will further increase Trident's production capacity. As part of LightRidge, Trident will be able to offer a broader range of high performance, affordable sensing and computing solutions and support the development of automated mission solutions.

About LightRidge Solutions
LightRidge provides advanced sensing, data processing, and autonomy solutions for demanding missions at an order of magnitude lower cost than traditional systems. Its high-performance space payloads and electronics in small form factors enable the proliferation of resilient and affordable space architectures for the U.S. military and intelligence communities, as well as selected commercial and international customers. Dedicated to the rapidly evolving needs of our U.S. government and industry partners, LightRidge is transforming mission autonomy, resiliency, and survivability, ISR, and multi-domain connectivity solutions for some of the nation's most challenging missions.

About Firmament
Firmament (www.firmament.com) provides structured equity and credit capital solutions to small- and medium-sized enterprises. Firmament is a value-added partner to entrepreneurs, management teams and business owners and curates solutions by deploying versatile capital in a user-friendly way. Firmament concentrates on software and services businesses with significant scaling potential in the healthcare, logistics and environmental sectors. With offices across the United States and in the United Kingdom, Firmament is focused on turning small business into big business.

Media Contact:
Allie Reitman
media@firmament.com

SOURCE Firmament