FlexEnable Announces New Ownership

FlexEnable announced its new Board of Directors and additions to its leadership team. This follows the restructuring of FlexEnable in late 2022, wherein funds managed by affiliates of Fortress Investment Group LLC became the majority shareholder of FlexEnable, joined by Kilonova Capital and Coretronic.

FlexEnable’s new Board of Directors includes four directors from the new ownership: Erez Levy, managing director at Fortress; Lin Chen, director at Fortress; Nick Fegan, managing director at Fortress; and Wes Goldstein, managing partner at Kilonova Capital.

Other members include Chuck Milligan, FlexEnable CEO, and Dr. Mark Verrall as an independent director. Dr. Verrall brings decades of experience in the research, development and commercialization of new liquid crystal materials and technologies. Previously Dr. Verrall has held the position of SVP and global head of product development for Display Solutions business of Merck KGaA, where he oversaw the company’s R&D facilities and materials innovations.

“We are delighted to be under new ownership, with solid backing from world-class investors such as Fortress and Kilonova Capital and our strong partner Coretronic, a world-leader in optical modules for display and XR applications,” Milligan said. “These investors will provide great support as we enter the next phase in FlexEnable’s history, moving from prototyping unique ultra-thin, lightweight and curved optical modules in Cambridge to volume production with our Asian manufacturing partners.”

“We are also very excited to welcome Mark to FlexEnable’s Board of Directors,” added Mil-ligan. “I know that the company will greatly benefit from his expertise in both LC materials and development of innovative materials solutions for flexible electronics at industrial scale as we now start production ramp-up of first products.”

“FlexEnable has an exceptional team, an invaluable intellectual property (IP) portfolio, an enviable list of customers that include many of the world’s biggest brands, and an array of high-volume applications where its technology is truly a game-changer,” Levy said. “We are very excited to support FlexEnable as it continues to develop its technology and IP while moving into volume production.”
 
FlexEnable has also recently made a series of other high-profile appointments. These include David Franklin, who joined as CFO, and Erin McDowell, who was appointed as chief revenue officer.