FAME Financing to Assist Sawyer Enterprises, LLC

AUGUSTA - At their monthly meeting held on September 19, 2024, the board of directors of the Finance Authority of Maine (FAME) approved $1 million in financing for Sawyer Enterprises, LLC d/b/a FISBA North America, a Portland-based precision manufacturer of microphotonics.

Microphotonics is a branch of technology that deals with directing light on a microscopic scale and is used in optical networking. Sawyer Enterprises, LLC uses microphotonics in optical designs that are used in medical and life sciences.

FAME approved a $1 million FAME Direct Loan to the company. The financing will be used to help the company expand its Maine operations and finance a portion of construction costs at its Portland facility. FAME's financing is expected to help to create more than eight Maine jobs in the near future and retain an additional ten Maine jobs.

"We are pleased to provide support for Sawyer Enterprises as it expands its operations here in Maine," stated FAME Board Chair Richard Trafton. "Precision manufacturing is one of Maine's targeted industries as outlined in Maine's Economic Development Strategy. We hope this financing will enable the company to grow and innovate utilizing Maine's STEM workforce."

Sawyer Enterprises, LLC, formed in 2017 and originally operated as Gray Optics, was acquired in 2023 by FISBA North America LLC, a wholly owned subsidiary of FISBA AG. FISBA AG is a Swiss company that develops and manufactures microphotonics for medical and life sciences industries.

The planned renovations to the Portland plant will allow the parent company to move operations and equipment from Tucson, Arizona to Maine.

"We are grateful for FAME's support, which will enable us to expand our Maine operations and create more good paying jobs," stated Wallace Latimer, President of FISBA North America. "We appreciate Maine's talented workforce and look forward to creating more innovative products that are in demand within the medical and life sciences markets."

FAME's Direct Loan provides access to operating capital for startups and existing businesses for most business purposes. Loans up to $1 million may be available if substantial public benefit is demonstrated and sufficient funds are available.

The Finance Authority of Maine (FAME) is a quasi-independent state agency whose mission is to enrich business and educational outcomes through relevant, timely financial support to Maine's people. Our vision is a Maine where all people have access to improved economic outcomes through business growth and education attainment.