CIVC Partners has sold its portfolio company EPIC Technologies, a specialty electronics engineering and manufacturing company, to Natel Engineering Co. CIVC Partners first invested in EPIC in 2004.
EPIC is a specialty electronics engineering and manufacturing company in the high-mix, low-to-medium volume segment of the electronic manufacturing services (EMS) industry. EPIC manufactures complex printed circuit board assemblies and provides complete systems integration including board layout, test development, prototype testing, printed circuit board assembly and box build. Its customers are in the medical, energy, communications, industrial equipment and transportation markets. The company has plants in Ohio, Mexico, and Romania and is headquartered in Norwalk, OH (www.epictech.com).
Natel is a microelectronics manufacturer serving companies in the military, aerospace, telecommunication and medical industries. Natel was founded in 1975 and is headquartered in Chatsworth, CA with manufacturing locations in California and Nevada (www.NatelEMS.com).
“We are extremely pleased with the addition of EPIC because it strengthens and expands product solutions to include higher-level full system integration capabilities, as well as additional opportunities to reduce costs for our customers through the geographical distribution of our manufacturing locations,” says Natel President and CEO Sudesh Arora. “Natel’s history of strategic acquisitions has enabled us to grow and the acquisition of EPIC provides market diversification in the building infrastructure, lighting, transportation and energy industries.”
CIVC invests from $15 million to $85 million in middle-market companies that have revenues from $40 million to $300 million and minimum EBITDAs of $5 million. Sectors of interest include business services and financial services. CIVC currently manages over $1.2 billion in capital and is investing out of CIVC Partners Fund IV. The firm is based in Chicago (www.civc.com).
Lincoln International (www.lincolninternational.com), a Chicago-based investment bank, represented EPIC in this transaction.
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-9-13
