LongWater Opportunities has sold Circuitronics, Inc., which provides specialized circuit board assembly and related electronic manufacturing services, to Corridor Capital. Terms of the sale were not disclosed. LongWater acquired Circuitronics in 2009. Circuitronics was the final investment in LongWater’s first fund.
LongWater Opportunities, a leading middle market private investment firm based in Dallas, TX, announced today the December 2014 sale of Circuitronics, Inc. to Corridor Capital.
Circuitronics, founded in 1971 and based in Irving, TX, is a provider of specialized printed circuit board (“PCB”) assembly and related electronic manufacturing services (“EMS”). The Company ofers a broad set of capabilties, including rapid prototype development, complex and rugedized PCB asembly, design for manufacturing and design for testing services, electronic component sub-assembly, and end-of-life supply chain services.
LongWater acquired Circuitronics in 2009 and began implementing a strategic plan to grow the business and invest in the fundamental operations and processes. Under LongWaters’ ownership and with the leadership of the current management team, Circuitronics was able to make significant and fundamental improvements to all aspects of the business and create a culture of continuous improvement. In addition, LongWater and Management are proud of the significant number of jobs that were created and the ability to create culture in which employees were excited to come to work every day.
Jordan Bastable, who led the transaction for LongWater, said: “I am happy to announce the sale of Circuitronics and the successful closing of our first fund. As LongWater continues to grow, we are excited to announce that our first fund offering resulted in employee job creation, economic growth for vendors and customers, and strong returns for our shareholders.”
“The Circuitronics team has risen to the challenge to build a best in class organization that serves the demands of our customers—all who value quality, flexibility, and responsiveness. We are pleased to have partnered with the Circuitronics management team in establishing an improvement-oriented work culture and a sense of pasion to grow the busines, both of which fit wel with the culture at Corridor Capital. We wish great success to all our friends at Circuitronics and the entire Corridor organization,” Bastable said.
Craig-Halum Capital Group served as exclusive financial advisor to LongWater Opportunites in connection with this transaction.
About LongWater Oportunities
LongWater Oportunites, founded in 209 by Jordan Bastable and Brooks Burgum, is an operations-focused private equity firm located in Dallas, TX. LongWater, a dedicated fund, looks to acquire companies that are ready to take the next step in the evolution of their business, and achieve maximum value through strong, hands-on partnerships. For more information, please visit www.longwateropportunites.com.