Pancon Corp., a portfolio company of Milestone Partners, has acquired Sunstone Components Group. No financial terms were disclosed for the transaction, which closed August 2, 2013. Based in Temecula, Calif., Sunstone is a provider of insert-molded components and precision metal stampings.
Radnor, PA, August 8, 2013 – Milestone Partners is pleased to announce that its portfolio company Pancon Corp. completed a highly strategic add-on acquisition of Sunstone Components Group on August 2, 2013.
Sunstone is a Temecula, CA based manufacturer of insert molded components and precision metal stampings. Sunstone’s products include precision-made connector pins and terminals, switch and relay contacts, lead frames, sensors, other stamped parts for electronic applications, as well as a variety of insert molded components. Mike Kirkman, CEO of Pancon, noted, “The Sunstone acquisition expands Pancon’s product offering and will allow us to design unique products for our customers.”
Geoffrey Veale, Principal at Milestone Partners, added, “Mike Kirkman and the Pancon management team are executing on their plan to build a diversified, global connector platform. Pancon remains committed to executing its add-on strategy and will continue to seek complementary businesses to augment its organic growth.”
The law firm Drinker Biddle & Reath LLP advised Pancon on the acquisition.
For more information about the transaction, please contact Geoffrey Veale or Jamie Greene at Milestone Partners.
Pancon Corp. (www.panconcorp.com) is an innovative manufacturer of highly engineered connectors and multilayer polymer capacitors. With a global reach including two international facilities, Pancon has the in-house design and production capabilities to service a broad variety of markets, including automotive, industrial, medical and telecommunications under the Pancon, Ark-Les and Paktron brand names.
Milestone Partners (www.milestonepartners.com) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues successful niche-market leaders that provide high-margin products or services. Milestone’s transactions typically provide liquidity to shareholders of privately-owned businesses, facilitate the transition of ownership to key managers, and allow management to capitalize on growth opportunities, while maintaining the legacy of the founders.