Suntron Corporation has sold its Methuen, Massachusetts facility to EIT
Lincoln International, a leading global mid-market investment bank, has announced that Suntron Corporation (“Suntron”), a portfolio company of HCI Equity Partners (“HCI”), has sold its Methuen, Massachusetts Facility (the “Facility”) to EIT LLC (“EIT”). The Methuen Facility provides rapid prototyping, design and integration capabilities for quick turn electronics manufacturing. EIT, based in Virginia, is an electronics manufacturing services provider to medical, industrial, telecommunication and defense customers. The Methuen staff will become EIT’s Northeast Operations, and the Facility will remain in its current ISO 9001-2008 and AS9100 certified and ITAR registered location. Ed Wheeler, Suntron’s Chief Executive Officer stated, “Suntron is positioned for future growth and will maintain our focus on customers requiring Class III printed circuit board assembly, large scale integration and manufacturing in cleanroom environments.”
Lincoln International acted as the exclusive financial advisor to HCI and Suntron, working closely with the company’s management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
Doug McCormick, a Co-Founder and Managing Partner at HCI, commented, “We are very pleased with Lincoln’s dedication to this transaction. Lincoln’s process and transaction expertise helped Suntron achieve a strategically successful outcome for all involved.”
About Suntron Corporation
Suntron delivers complete manufacturing services and solutions for high reliability products used in safety and mission critical, and productivity and monitoring devices for the aerospace and defense, medical, industrial, networking and telecommunications, and semiconductor capital equipment markets. Suntron provides engineering services, printed circuit board assembly, box build, large scale assembly, and testing services. Headquartered in Phoenix, Arizona, Suntron operates full service facilities in Arizona and Tijuana, Mexico. For more information about Suntron capabilities: www.suntroncorp.com.
About HCI Equity Partners
HCI Equity Partners is a private equity firm which invests in growth oriented industrial product and service companies. The members of the Firm partner with owners and managers, with a focus on assisting with operational improvements and supporting growth initiatives. Led by an experienced, cohesive team with a proven strategy of adding value to industrial product and service growth companies in the lower middle market, HCI Equity Partners is known to be an exceptional partner and resource to management teams. More information about HCI Equity Partners can be obtained at www.hciequity.com.
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