Pancon Corp., a portfolio company of Milestone Partners, has completed its previously announced acquisition of Sunstone Components Group.
Sunstone is a manufacturer of insert molded components and precision metal stampings. Sunstone’s products include precision-made connector pins and terminals, switch and relay contacts, lead frames, sensors, other stamped parts for electronic applications, as well as a variety of insert molded components. The company is based in Temecula, CA (www.4scg.com).
Milestone Partners formed Pancon in October 2011 when it acquired two connector businesses (Pancon and Ark-Les Connectors) and a capacitor business (Paktron) from Illinois Tool Works. Pancon manufactures custom and standard connectors that are used in power and signal applications while its multilayer polymer capacitors primarily serve power conversion applications. Industries served include telecommunications/datacom, appliances, military, automotive, medical, and industrial. Pancon is headquartered in Stoughton, MA (www.panconcorp.com).
“CEO Mike Kirkman and the Pancon management team are executing on their plan to build a diversified, global connector platform. Pancon remains committed to executing its add-on strategy and will continue to seek complementary businesses to augment its organic growth,” said Geoffrey Veale, Principal at Milestone Partners.
Milestone Partners invests in leveraged buyouts and recapitalizations of lower middle market businesses typically in the $15 million to $100 million valuation range. The firm prefers niche-market leaders that provide high-margin products or services. The firm was founded in 1995 and is located in Radnor, PA (www.milestonepartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-9-13
