SMALL BUSINESS INVESTMENT COMPANIES HAVE INVESTED MORE THAN $601 MILLION IN CONNECTICUT OVER THE LAST 5 YEARS.
Small Business Investment Company Impact in Connecticut
- SBICs have invested in 85 small businesses in Connecticut since 2018.
- SBICs have invested $601.9 million in Connecticut small businesses since 2018, with $211.6 million invested in FY 2022 alone.
- Connecticut businesses that received financing from SBICs in 2022 supported 3,475 employees.
A sampling of the Connecticut-based companies that have received SBIC financing:
Numet Machining Techniques, Inc. (Orange)
Numet is a self-release Tier 1 provider of major rotating parts to General Electric Aviation, Pratt & Whitney, and the U.S. Department of Defense. Additionally, Numet services customers in the overhaul and repair market for both military and commercial aviation, and ground power applications. The company currently specialize in complex turned and 5-axis milled components and assemblies made from extreme temperature alloys.
In 2011, Numet was recapitalized with a major investment led by Kidd & Company, a Connecticut-based private equity group. As part of this recapitalization, the company hired key executives with experience running much larger companies to establish the foundation needed to dramatically grow the company through organic growth and strategic acquisitions. The company is now investing millions in facilities, equipment, systems and training to support its growth strategy. A key aspect of this foundational development is the company's recent move to a state of the art manufacturing facility in Orange, CT. This 40,000 square foot facility features the latest in energy efficient lighting, is fully climate controlled, and features a Class 100K clean room. In addition to fully refurbishing all existing equipment as part of the move, the company is also investing in the latest technology available in precision machining equipment.
- SBIC Investment: $6,500,000
Valley Tool & Manufacturing (Orange)
Valley Tool & Manufacturing is a leading manufacturer of a wide variety of products for the commercial aerospace and defense industries. Valley delivers a full-range of machining and manufacturing services, including precision machined parts, fabricated components, welded structures, intricate assemblies, and part modifications. Valley is a key supplier of parts for several high-priority military and commercial programs.
- SBIC Investment: $375,000