Churchill Equity sells Cal Quality to Parpro of Taiwan

Churchill Equity, the Minneapolis investment firm, sold a portfolio holding, Cal Quality Electronics, to Parpro of Taiwan. Terms weren’t disclosed. Cal Quality is the Santa Ana, California, provider of electronics-manufacturing services. Parpro, which is traded on the Taiwan Stock Exchange, provides design and manufacturing services. Lincoln International, the Chicago-based mid-market investment bank, provided financial advice to Churchill and Cal Quality.

Press Release

Lincoln International represents Churchill Equity in its sale of Cal Quality Electronics to PARPRO

CHICAGO, IL – Lincoln International, a leading global mid-market investment bank, has announced that Cal Quality Electronics (“Cal Quality” or the “Company”) has been sold to PARPRO (4916:TW) (“PARPRO”), a full service embedded design solutions and manufacturing services company headquartered in Taiwan. Cal Quality was a portfolio holding of Churchill Equity (“Churchill”), a private investment firm based in Minneapolis.

Headquartered in Santa Ana, CA, Cal Quality is strategically located in Southern California’s “Medical and Aerospace Alley,” positioning it to service some of the most attractive customers within the electronics manufacturing services (“EMS”) industry. It is a full-service provider for complex, high reliability applications. The Company offers a full suite of EMS capabilities, including custom printed circuit board assembly (“PCBA”), surface-mount technology (“SMT”) assembly, through-hole assembly, cable and wire harness assembly, electro-mechanical assembly and full system builds.

The acquisition of Cal Quality will expand PARPRO’s US-based EMS capabilities and complement PARPRO’s ‘global ODM strategy’, providing customers with a total solution that extends far beyond traditional electronics manufacturing services. The addition of Cal Quality represents a natural extension of PARPRO’s vision and long-term commitment to offering world-leading design and manufacturing solutions, making PARPRO manufacturing offerings competitive at virtually any volume and with any sourcing strategy.

Lincoln International acted as the exclusive financial advisor to Churchill and the Company, working closely with the Company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.

Gary Gottschalk, a Partner at Churchill Equity, commented, “Lincoln’s expertise in the EMS industry coupled with global transaction experience and sound advice yielded a great outcome for all. Churchill and the stakeholders of Cal Quality benefitted greatly from their experience, efforts and knowledge.”