LOS ANGELES -- The acquirer has become the acquired. Quickturn board fabricator APCT today announced it has been purchased by a a team of its own management and a private investment firm.
Angeles Equity Partners, is partnering with APCT management with the aim of accelerating the company’s profitable growth, pursuing accretive bolt-on acquisitions, expanding global production capabilities, and driving systems integration and investment. Financial terms of the transaction were not disclosed.
APCT was founded in 1977, and purchased by current CEO Steve Robinson, Ed Barclay and Bill Boyle in June 2008. Last year it acquired Cartel Electronics and its affiliate Cirtech and in 2016 it bought Tech Circuits.
“APCT is a leading provider of advanced quickturn PCB prototypes for many of the world’s leading aerospace and defense, industrial, and consumer electronics companies,” said Timothy Meyer and Jordan Katz, co-founders and managing partners, Angeles. “We are excited to partner with the APCT team, which has a long and successful history of executing a differentiated business model in this sector. We believe this is a compelling opportunity to leverage our firm’s strategy, M&A, and operational capabilities to help APCT realize its full potential.”
APCT has PCB manufacturing sites in Silicon Valley, Southern California and Connecticut.
“The Angeles Equity Partners team has significant experience creating value in businesses,” said Robinson. “We believe a great future lies ahead for APCT – and Angeles is the right partner to help accelerate our growth trajectory through technological innovations and strategic acquisitions.”