American Capital invested $21.5 million in Electronic Warfare Associates, a provider of electronic warfare, cyber security and advanced commercial test tool systems and solutions to the U.S. and allied-nation government agencies and commercial customers. The investment was led by American Capital Special Situations and takes the form of senior secured term loans. The investment will be used to refinance EWA’s existing indebtedness and provide capital for general corporate purposes.

“We are pleased to have this opportunity to support a leader in electronic warfare and cybersecurity and look forward to EWA’s continued success,” said Myung Yi, managing director, American Capital Special Situations. “This transaction demonstrates American Capital Special Situations’ ability to provide flexible capital solutions to middle market companies with strong franchise value.”

“For over 38 years, EWA has continued to be on the forefront of developing premier, innovative, patented and proprietary products and technologies for US government and commercial customers for top-priority, highly-sophisticated defense and commercial programs,” said Yaniv Zief, Vice President, American Capital Special Situations. “We are excited about partnering with an industry leader that has unique capabilities in several niche markets.”

EWA is a provider of electronic warfare, cyber security and commercial test tools systems and solutions to the U.S. and allied-nation government agencies and commercial customers.