Lincoln International represents ACT Electronics, Inc., a portfolio company of Sun Capital Partners, Inc., in its sale of the Mississippi division of ACT Electronics to CDR Manufacturing, Inc. (dba Ayrshire Electronics)
CHICAGO, October 23, 2008 – Lincoln International, a leading global mid-market investment bank, acted as the exclusive financial advisor to ACT Electronics, Inc. (“ACT”), a provider of electronic manufacturing solutions and a portfolio company of Sun Capital Partners, Inc., in the sale of the assets of its Mississippi division (the “Business”).
The transaction was completed under significant time constraints as the Business was being prepared to be liquidated. The sale enabled the division to continue its operations and saved the jobs of approximately 250 employees in Corinth, Mississippi. The Business was acquired by CDR Manufacturing, Inc. (dba, Ayrshire Electronics), a leading provider of electronic components, printed circuit boards, and engineering design services for original equipment manufacturers.
“Lincoln International’s expertise and knowledge of the EMS industry was a critical factor in running an expedited sale process, which was required under the circumstances,” said Barry Kasoff; Chief Restructuring Officer of ACT and President of Realization Services, Inc.
The transaction was especially favorable for the town of Corinth Mississippi, which was informed that the employees of the Business could be laid off as early as December 4th. Gary Chandler, president of Alliance, the economic development group for Corinth and Alcorn County, said “These layoffs would have happened December 4th, and while layoffs never happen at a good time, it would have been right before Christmas and would have been even more devastating to the 250 families involved.”
The deal represents Lincoln International’s eighth electronics transaction in 2008. The sale process was accomplished in three weeks from engagement to closure.
About Lincoln International
Lincoln International specializes in merger and acquisition services, debt advisory services, UK pension advisory services and providing fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, New York, Madrid, Paris, Tokyo and Vienna, and strategic partnerships with China Everbright and ICICI of 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. For more information, please visit www.lincolninternational.com.
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