Should You Sell Your Company to a Private Equity Firm?
I am often asked by owners in the electronics industry about using private equity (PE) firms as potential buyers. It’s true that PE firms have completed a lot of deals in the PCB and EMS industries over the years. In fact, two of the largest U.S. PCB shops—Summit Interconnect and AdvancedPCB—are owned by private equity... Read More →
What Buyers Are Buying
I recently looked at completed deals in the North American PCB and EMS sectors over the past few years and spoke with several buyers who are active in the M&A market. According to my records, there were 31 deals in the North American PCB sector from 2021 through August 2024 (11 in 2021, five in... Read More →
North America PCB, EMS M&A Review: The First Six Months of 2024
M&A deal discussions were fairly strong in the North American EMS and PCB sectors in the first half of 2024, but for various reasons, the number of actual closed deals was lower than in the first half of 2023. For example, there were just two PCB deals that closed in the first six months of... Read More →
Breaking Down Legal Preparations for M&A
When owners prepare for to sell, the only legal advice I ever give is for them to get a good M&A lawyer, but here are some general things owners should consider. First, get a good M&A lawyer. If your long-term corporate law firm has a strong M&A team, that’s perfect. Be sure they aren’t too... Read More →
Breaking Out of the Valuation Box
Many manufacturing companies are in a “valuation box.” That is, the value of the company, based on a market multiple, is not equal to the value of the assets. Or worse, once debt is paid off, the net proceeds would actually be negative. Here are some tips for getting out of the box. Now, how... Read More →
The New Industry: Will the Growth Continue?
Feature Interview by the I-Connect007 Editorial Team How sustainable are the primary financial models in the United States regarding PCB fabrication shops? In this interview with IPC Chief Economist Shawn DuBravac and M&A expert Tom Kastner, we explore what’s happening with U.S. printed circuit board shops in today’s market, how consolidation affects the industry, and... Read More →
Acquiring a PCB/EMS Shop: Brownfield vs. Greenfield
We often get asked about establishing a new company (greenfield) rather than buying an existing PCB or EMS shop (brownfield). There are many criteria to consider. Many buyers want to grow through M&A, but they cannot find acquisition targets that fit their criteria. Perhaps they can find the right shop, or at least one that... Read More →
Catching Up With Industry M&A Expert Tom Kastner of GP Ventures
Dan Beaulieu, D.B. Management Group Every year or so, I like to chat with my friend, M&A expert Tom Kastner of GP Ventures. I know he has been busy the past few years, so I was anxious to find out more about it. He is the one person I know who really has his finger... Read More →
2023 PCB and EMS M&A Review
M&A picked up for both the PCB and EMS sectors in North America in 2023, despite a challenging overall M&A market. Higher interest rates, concerns over the economy, and global crises caused global M&A activity to fall in 2023. However, the technology/electronics sectors fared better than others. In the North American PCB sector, there were... Read More →
GP Ventures Advises Electronics Manufacturing Training Holding on Acquisition of Blackfox Training
GP Ventures is pleased to announce that its client, Electronics Manufacturing Training Holding, has acquired Blackfox Training Institute. Founded in 1996, Blackfox is a leading provider of IPC training and certification services. Electronics Manufacturing Training Holding is also the owner of EPTAC, an internationally recognized leader in IPC training and certification. Financial terms were not... Read More →