Lincoln International Represents Winland Electronics Inc. in the sale of its Electronics Manufacturing Services (“EMS”) operation to Nortech Systems Inc.
Lincoln International, a leading global mid-market investment bank, continues its significant involvement in the EMS industry with the sale of the EMS operation of Winland Electronics Inc. (AMEX: WEX) (“Winland” or the Company) to Nortech Systems Inc. (NASDAQ: NSYS) (“Nortech”), which occurred at the beginning of the new year.
Winland's EMS operation designs and manufactures printed circuit board assemblies and higher-level complete box build assemblies, primarily for original equipment manufacturers (OEMs) in markets including medical, industrial, transportation and scientific instrumentation. Nortech purchased the assets and intellectual property associated with Winland's EMS operation and is continuing the existing Mankato, MN operation by signing a long term lease for Winland’s 58,000-square-foot facility comprised of manufacturing, warehouse and office space.
“We're pleased to expand our world-class manufacturing capabilities, including adding valuable new capacity for printed circuit board assemblies,” said Mike Degen, Nortech’s president and CEO. “Winland had developed a reputation for excellence in design and manufacturing, and together we'll advance that success going forward.”
Lincoln International acted as the exclusive financial advisor to the Company, working with the senior management team and the Company’s board of directors throughout the sale process. This included providing advisory expertise and assisting in the negotiation and due diligence phases of the transaction.
Jack Calderon a Managing Director at Lincoln International and the head of its Global Electronics Group commented, “This is a positive result for Winland and Nortech. The EMS division was not operating profitably for Winland but provides Nortech the additional capacity it required. The transaction keeps in place the facility and workforce with continuing production to Winland's EMS customers. The transaction will also allow Winland to focus on its proprietary products.”
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, private capital raising, and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With 10 offices in Asia, Europe and North America, and strategic partnerships with leading institutions in China and India, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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