Tonka Bay Equity Partners has sold CORWIL to Integra Technologies. No financial terms were disclosed. Based in Milpitas, California, CORWIL is a provider of outsourced integrated circuit assembly and test services.
MINNETONKA, Minn. (September 12, 2017) — Tonka Bay Equity Partners has completed the sale of CORWIL Technology Corporation (“CORWIL”) to Integra Technologies, a world leader in integrated circuit test and related services. Based in Milpitas, California, CORWIL is the premier U.S. provider of outsourced integrated circuit assembly and test services focusing on high reliability, fast turn and wafer processing markets.
Tonka Bay led the recapitalization of CORWIL in 2013 after executing a focused industry search with Investor CEO and industry veteran, Matt Bergeron. During Tonka Bay’s ownership, CORWIL enhanced its service offering by acquiring and integrating an add-on acquisition, strengthening the senior management team, establishing an outside board of directors with industry experience and accelerating growth in high reliability end markets.
Steve Soderling, Tonka Bay Partner and CORWIL Chairman stated; “Led by industry executive, Matt Bergeron, CORWIL proved to be an industry leader in the outsourced assembly and test market in North America. CORWIL’s fast turn, breadth of integrated circuit assembly and test services, coupled with strong engineering talent were significant competitive advantages.”
CORWIL provides high quality integrated circuit assembly and test services to the medical, military and aerospace, OEM electronics and semiconductor industries. CORWIL is the premier provider of wafer thinning and dicing, optical inspection, full assembly and testing of integrated circuits and complex modules. For more information about CORWIL, please visit www.corwil.com.
About Tonka Bay Equity Partners
Based in Minnetonka, MN, Tonka Bay Equity Partners is a private equity firm that acquires and invests in growth-oriented businesses in the highly-engineered manufacturing, business services, and value-added distribution sectors. For more information, call (952) 345-2030 or visit www.tonkabayequity.com.