Fralock, which is backed by Arsenal Capital Partners, has acquired Orange County, California-based Mapson Engineering Inc, a provider of high resolution, large format precision graphic solutions for specialty electronic applications. No financial terms were disclosed.
VALENCIA, Calif., Dec. 22, 2020 /PRNewswire/ — Fralock, an engineering and manufacturing provider of specialty material solutions for high reliability and mission-critical applications, has completed the acquisition of Mapson Engineering, Inc. (“Mapson”). Fralock is a portfolio company of Arsenal Capital Partners (“Arsenal”), a specialized private equity firm with expertise in the specialty materials industry.
Mapson, based in Orange County, California, is a provider of high resolution, large format Precision Graphic Solutions for specialty electronic applications. Founded nearly 40 years ago by Jim Mapson and built through reputation for high-quality products, superior customer service, and technical expertise, the company provides specialized services in support of many prominent programs primarily in the aerospace and defense industries.
Fralock and Mapson have enjoyed a long association with each other, collaborating on many projects over the years, which has provided a unique opportunity to transition the business to Fralock as Jim Mapson moves toward retirement. The acquisition will allow seamless, ongoing support to the customers that are already active and common to both organizations.
Fralock’s CEO Marc Haugen said, “The addition of Mapson allows us to further develop upon what Jim and the entire Mapson team have built, and to expand Fralock’s offerings to our common customer base.” Haugen added, “The business is particularly synergistic with Career Technologies, a business that we acquired earlier in 2020, and we are pleased that Jim has agreed to play an active role in the transition during 2021.”
Founder of Mapson, Jim Mapson said, “I am very pleased to be able to hand the baton off to Fralock. Our customers will benefit from this acquisition as Fralock has the same business philosophy in terms of providing exceptional quality and meeting customer expectations that we have always had at Mapson.”
Fralock was established in 1967, and is a design, engineering and manufacturing company focused on specialty materials components and subassemblies. The company (AS9100, ISO13485, ISO9001, FDA Registered, and ITAR compliant) develops high-performance solutions in a variety of markets including aerospace, electronics, industrial, life science, medical, satellite, and semiconductor equipment manufacturing. Fralock’s subsidiary, Career Technologies USA (“Career”), established in 1998 and acquired by Fralock in 2020, specializes in the design and manufacture flexible, rigid, and rigid-flex circuits and related assemblies. It offers a wide array of capabilities ranging from connector fabrication to complete box builds. With ITAR, AS9100, ISO9001 certifications, Career has deep experience in medical, aerospace, military, and commercial applications.
Arsenal is a specialized private equity firm that focuses on investments in middle–market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 200 platform and add-on investments, and achieved more than 30 realizations. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value–add.