Graycliff Partners has sold Sauk Rapids, Minnesota-based Talon Innovations Corp, a provider of high precision machining primarily for the semiconductor equipment market. The buyer was Ichor Holdings. No financial terms were disclosed.
NEW YORK, December 12, 2017 – Graycliff Partners LP, an independent investment firm focused on lower middle market private equity and mezzanine investments in the United States, today announced that it has completed the sale of Talon Innovations Corporation, a Sauk Rapids, MN-based provider of high precision machining primarily to the semiconductor equipment market, to Ichor Holdings, LLC, a wholly-owned subsidiary of Ichor Holdings, Ltd. (NASDAQ:ICHR), a leader in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment.
Since acquiring Talon in September 2013, Graycliff has worked with management to generate substantial growth through investment in facilities and capital equipment and the addition of exceptional talent. Under Graycliff’s ownership, Talon has more than tripled its employee count, adding over 350 jobs and grown annual revenue by 4x.
Duke Punhong, a Managing Director at Graycliff Partners, said, “It has been an honor to collaborate with Talon’s entire team over the last four years. We greatly enjoyed partnering with the company to scale the business and wish them a successful future.”
“Graycliff has been integral in enabling us to achieve extraordinary growth over the course of our strategic partnership,” said Greg Olson, CEO of Talon. “We appreciate the support, expertise, and resources provided by Graycliff. I am proud of the company we have built and look forward to continued success under the Ichor umbrella.”
About Graycliff Partners LP
Graycliff Partners is an investment firm focused on lower middle market investments. Graycliff seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.