Arcline Investment Management has acquired Meritec, a manufacturer of electronics and connectors used in telecommunications and healthcare applications. The buy of Meritec includes its subsidiary Joy Signal Technology.
Meritec designs and manufactures interconnect embedded systems and connectors that are used in high-density and high-speed applications by original equipment manufacturers in the semiconductor, military, aerospace, medical, and industrial end markets. Meritec is headquartered near Cleveland in Painesville, Ohio, and its subsidiary Joy Signal is based in Chico, California.
“We are proud of the company we have built through the efforts of our associates and partnership with our customers,” said John Venaleck Sr., the founder of Meritec. “I am confident that great things are to come through Arcline’s investment in our future.”
With the closing of this transaction, Arcline has named Kevin Perhamus as CEO of both Meritec and Joy Signal. From 2010 to 2020, Mr. Perhamus was the CEO of Winchester Interconnect, a portfolio company of Snow Phipps that was sold to publicly traded Aptiv in 2018. Beginning in 2020, Mr. Perhamus became the CEO of Quantic Electronics which Arcline acquired in 2021.
“Meritec is a loyal partner to its customers, enabling them to bring leading technologies to their industries,” said Mr. Perhamus. “I am excited for the next phase of my partnership with Arcline and look forward to building upon the momentum Meritec has created.”
Arcline makes control investments in companies that have from $10 million to $100 million of EBITDA and enterprise values of up to $1 billion. Sectors of interest include defense and aerospace; infrastructure services; industrial and medical technology; life sciences and specialty materials. In February 2021, Arcline closed its second fund, Arcline Capital Partners II LP, with total capital commitments of $2.75 billion. Arcline was founded in September 2018 and has offices in San Francisco and New York.
© 2022 Private Equity Professional | May 3, 2022
