Tech-Savvy Investor Andrew Africk Joins CVD Equipment Board as Company Expands Leadership

CVD Equipment Corporation (NASDAQ: CVV), a producer of chemical vapor deposition and thermal processing equipment, has appointed Andrew Africk to its Board of Directors, marking an expansion of the board from six to seven members. Africk, who is also the company’s largest shareholder, brings three decades of investment and financing expertise to the table.

From Apollo to Searay: A Career in Strategic Investment

Andrew Africk founded Searay Capital LLC in mid-2013, a private investment firm through which he has maintained significant stakes in various technology companies. Prior to launching Searay Capital, Africk spent more than two decades as a Senior Partner at Apollo Global Management, where he led private equity initiatives and capital markets strategies. His tenure at Apollo focused primarily on technology and communications sector investments, giving him deep familiarity with market dynamics and emerging business opportunities.

Africk’s educational credentials reinforce his analytical prowess: he holds a B.A. in Economics from UCLA, a J.D. from University of Pennsylvania Law School, and an MBA from Wharton School of Business. This combination of legal, financial, and business training positions him well to evaluate complex corporate decisions.

Strategic Alignment with Company Growth

Manny Lakios, who serves as President and CEO of CVD Equipment Corporation, expressed enthusiasm about the appointment. “His comprehensive knowledge of the technology sector will strengthen our Board discussions as we pursue opportunities in high power electronics, battery materials, aerospace applications, and industrial markets,” Lakios stated.

CVD Equipment designs and manufactures specialized equipment for materials and coating production, serving both production facilities and research institutions. The company’s primary focus areas include silicon carbide for high power electronics, materials like carbon nanotubes and graphene for energy storage systems, ceramic matrix composites for aerospace, and various industrial applications.

Board Expansion Reflects Confidence

Lawrence J. Waldman, Chairman of CVD Equipment’s Board, welcomed the decision. “We are pleased that Mr. Africk has agreed to strengthen our Board with his extensive corporate and financial experience. His demonstrated commitment as our leading shareholder, combined with his track record in evaluating technology investments, will prove invaluable to our strategic planning.”

The appointment reflects the company’s confidence in its growth trajectory and the need for seasoned financial expertise as it navigates competitive markets and expands its product offerings. With Africk’s investment background and sector knowledge, the enlarged board is well-positioned to guide the company through its next growth phase.