Industrial Growth Partners has acquired APCT from Angeles Equity Partners. No financial terms were disclosed. Silicon Valley-based APCT is a maker of complex, quick-turn printed circuit board prototypes/
LOS ANGELES–(BUSINESS WIRE)–Angeles Equity Partners, LLC (“Angeles”), a private investment firm focused on value creation through operational transformation, announced the sale of APCT, Inc. (“APCT”) to an affiliate of Industrial Growth Partners (“IGP”). APCT is an integrated manufacturer of complex, quick-turn printed circuit board (“PCB”) prototypes headquartered in Silicon Valley. APCT delivers industry-leading turnaround times and technical solutions for new product development and specialty low-volume niche production programs to aerospace and defense, industrial, and medical companies. Offshore production management services are provided through its Global division. The financial terms of the transaction were not disclosed.
“We are proud of what we have accomplished with CEO Steve Robinson and the entire APCT team,” said Timothy Meyer and Jordan Katz, Co-founders and Managing Partners of Angeles Equity Partners. “The strategic and operational transformation we executed is a testament to the Angeles value creation model and another example of our ability to partner with management teams to build exceptional industrial businesses.”
APCT is a critical supplier to the American electronics sector, with locations near the nation’s leading technology innovation centers in Silicon Valley, Southern California, and Connecticut. APCT’s distinctive capabilities are designed to deliver leading cycle times, world-class quality, robust engineering collaboration, design for manufacturability, and comprehensive global program management.
“It has been an incredible journey growing and transforming the business with the support of Angeles. Together, we strategically repositioned APCT to better serve key end markets and executed several impactful operational initiatives to accelerate growth and expand margins. Our entire team is thrilled by all we have accomplished during our partnership with Angeles,” said Steve Robinson, CEO of APCT. “We believe a great future lies ahead for APCT and look forward to our new partnership with IGP.”
Jefferies LLC and Massumi + Consoli LLP served as financial and legal advisors, respectively, to Angeles and APCT in the transaction.
About Angeles Equity Partners, LLC
Angeles Equity Partners, LLC is a private equity firm that invests in companies across a wide range of industrial sectors and specifically targets businesses which it believes can directly benefit from the firm’s strategic, operational, and M&A capabilities. The Angeles skill set drives the firm’s investment philosophy and, in its view, can help businesses reach their full potential. Learn more online at angelesequity.com.
About APCT, Inc.
Founded in 1977, APCT, Inc. enables superior execution of advanced circuit board designs through design for manufacturability engineering, exceptional prototype turn times, global program management, and passionate, committed people who earn customers’ trust daily. Domestic manufacturing is located in Silicon Valley, Southern California, and Connecticut, with strategic global production partners in China, Japan, Taiwan, and Vietnam. APCT is committed to total customer satisfaction through quality leadership and continuous process improvement. At the heart of APCT’s success is the willingness to find solutions for customers. APCT constantly looks for innovative technological advances, improving its lead times, enhancing its detailed engineering support, and enriching its global program management for mass production runs outside the United States. Learn more online at APCT.com.