- TIE was founded in 1992
- Lincoln International served as financial advisor to TIE and Summit Park while Lazard served as financial advisor
- Summit Park is focused exclusively on the lower middle market
Summit Park has sold Tennessee Industrial Electronics, a provider of refurbished parts and repair services, specializing in computer numerical control systems and robotics. The buyer was Diploma, PLC. No financial terms were disclosed.
TIE was founded in 1992.
Bob Calton, co-managing partner at Summit Park said in a statement, “TIE’s significant growth and success are the result of the hard work of the entire TIE team, led by Tony Wisniewski. They thoughtfully executed a value creation plan to broaden the company’s capabilities, expand into new end markets, and to grow strategically through M&A, establishing TIE as a market-leading provider. We enjoyed a strong partnership with the TIE team, and we look forward to following their continued success as a part of Diploma.”
Lincoln International served as financial advisor to TIE and Summit Park while McGuireWoods LLP acted as legal advisor. Lazard served as financial advisor to Diploma PLC and Foley & Lardner LLP served as legal advisor.
Based in Charlotte, North Carolina, Summit Park is focused exclusively on the lower middle market. The firm invests across a range of industries, including services, consumer, and industrial growth.