Tonka Bay Equity Partners has completed a dividend recapitalization of All-Flex, a Northfield, Minn.-based flexible circuit manufacturer it originally acquired in January 2009. No financial terms were disclosed.
Less than two years after completing an acquisition of the company, Tonka Bay has completed a dividend recapitalization of All-Flex, a flexible circuit manufacturer based in Northfield, Minnesota. The proceeds from the recapitalization provided a distribution for shareholders and funding for future growth. M&I Marshall & Ilsley Bank provided financing for the transaction.
Tonka Bay, in partnership with management, acquired All Flex in January 2007. Since that time, All Flex’s management team has led the company to exceptional growth in revenue and profitability. All-Flex is a manufacturer of flexible circuits for quick turn prototype and low-to-medium volume production needs. All-Flex serves the medical, military, instrumentation, aerospace, industrial, and telecommunications industries (www.allflexinc.com).
About Tonka Bay
We acquire and invest in niche manufacturing, value-added distribution, and business services companies with operating cash flow greater than $2 million. We manage two private equity funds with combined capital of $200 million. Our team includes former senior managers of successful companies with both investing and operating backgrounds who know how to build value. We seek to invest in companies poised for growth, leveraging our capital and operating experience to help companies unlock their potential.