TAMPA, Fla. — Jeff Riggs has retired as CEO of Spectrum AMT, a Colorado-based circuit board maker he co-founded 25 years ago with a growing business in the space industry.
Former chief operating officer Jeff Gilbert has taken the company’s helm after Riggs left following a 40-year career in electronics, Spectrum AMT (Advanced Manufacturing Technologies) announced Aug. 15.
Spectrum AMT started as a medical device specialist and later expanded into producing electronics systems for the spaceflight, deep space, aerospace and military sectors, which have provided much of its revenue growth in recent years.
The manufacturer has contributed to space-based programs such as the Space Shuttle, Hubble Space Telescope and International Space Station.
In February 2023, Spectrum AMT was sold to Ocutrx Technologies, a Californian medical manufacturing venture focusing on augmented reality and other 3D visualization tools.
Spectrum AMT, a private company that does not disclose revenues, aims to achieve more than 40% year-on-year growth following the acquisition.
Michael Freeman, Spectrum AMT’s executive chair, said the manufacturer recently added two buildings to its Colorado Springs campus and is considering a third to accommodate growth at the facility.
The company has more than 80 employees and announced in April that it will receive up to $1.3 million in state incentives to add over 100 new jobs in Colorado Springs.
Around 30-40% of company revenues currently come from space, according to Freeman, who expects this to soon grow to 50-60% on the back of strong government and commercial demand.
While he said AMT Space will hold on tight to its core competencies and vision following Riggs’ retirement, the company is in an “expansion mode” as it adds several new software systems to improve automation and workflow management.
