HCI-backed Summit Interconnect buys Eagle Electronics

Summit Interconnect, which is backed by HCI Equity Partners, has acquired Illinois-based Eagle Electronics, a maker of advanced technology printed circuit boards.

Summit Interconnect, which is backed by HCI Equity Partners, has acquired Illinois-based Eagle Electronics, a maker of advanced technology printed circuit boards. No financial terms were disclosed. McDermott, Will & Emery served as legal counsel to Summit on the deal. Anaheim, California- and Toronto-based Summit is a maker of advanced technology printed circuit boards.

PRESS RELEASE

ANAHEIM, CA and WASHINGTON, DC, June 3, 2021 – Summit Interconnect (“Summit”), backed by HCI Equity Partners (“HCI”), announced it acquired Eagle Electronics (“Eagle” or the “Company”) on June 1, 2021. Summit is a manufacturer of advanced technology printed circuit boards with expertise focused on complex rigid and rigid-flex product. With the acquisition of Eagle, Summit’s growing position in the North American printed circuit board prototyping market will create new cross-selling opportunities and introduce a highly complementary product offering. Eagle is the fourth company to join HCI’s platform following its initial investment in Summit. Financial terms of the transaction were not disclosed.

Headquartered outside of Chicago, Illinois, Eagle Electronics is a printed circuit boards manufacturer focused on high-performance applications for the aerospace and defense, commercial and other industrial end-markets. Eagle specializes in highly customized quick-turn prototyping and manufacturing of a range of highly engineered rigid and rigid flex printed circuit boards.

Shane Whiteside, President and CEO of Summit stated, “Eagle is an impressive operation with an experienced and highly capable management team. This acquisition aligns Eagle’s extensive prototyping experience and commercial market reach with Summit’s differentiated production capabilities. Their investments in advanced technology capabilities parallel the equipment set of Summit’s factories. Eagle brings new capabilities that further strengthen our ability to serve customers in both high-performance commercial and defense markets, as well as broaden our relationships with key suppliers. This is very exciting news for both Summit and Eagle, and we welcome our new Illinois employees to the Summit team.”

Doug McCormick, HCI’s Managing Partner commented, “This acquisition enhances both Summit’s and Eagle’s complementary capabilities in the high reliability and prototype markets, and adds to Summit’s reputation as the consolidator of choice in the fragmented North American printed circuit board business.”

McDermott, Will & Emery served as legal counsel to Summit.

About Summit Interconnect
Summit Interconnect is a leading manufacturer of advanced technology printed circuit boards. Manufacturing services include quick turn, prototype and production through our advanced technology facilities located in California and Toronto, Canada. For more information, please visit www.summit-pcb.com.

About HCI Equity Partners
HCI Equity Partners is a lower middle market private equity firm focused on partnering with family and founder owned distribution, manufacturing and service companies. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.