Align Capital Partners has acquired StenTech, a maker of surface mount technology (SMT) stencils.
An SMT stencil is a metal sheet with apertures used to deposit solder pastes or adhesives in specific locations on a printed circuit board. The most common material for stencils is stainless steel. SMT stencils are high-impact, low-cost components that are critical for customers in the semiconductor and electronics manufacturing industries.
According to the company, it is the single largest provider of SMT stencils in North America. In addition to its SMT stencils, StenTech also provides wave solder pallets; RF metal shielding, lids and fencing; tooling; and other components.
StenTech has more than 2,000 OEM and Tier 1 contract manufacturing customers and is headquartered near Toronto in Markham, Ontario.
“We were looking for an investment partner who understood our market and was committed to maintaining the high levels of customer service we are known for within the SMT community, Align Capital Partners’ relevant specialty manufacturing experience, track record of partnering with management teams through successful leadership transitions and overall growth resources fit our needs perfectly,” said Sibthain Akbar, StenTech’s founder.
As part of this transaction, Mr. Akbar will step down as president of StenTech and will join the company’s board of directors. Brent Nolan, currently a vice president at StenTech, has been named the new president of the company. Both Mr. Akbar and Mr. Nolan will remain as shareholders in StenTech in partnership with Align.
“As a growth investor, we’re excited about the opportunity to invest in StenTech’s commercial and operational capabilities in support of the company’s already strong position as a supply chain partner of choice to Tier 1 contract manufacturers and OEMs across North America,” said Chris Jones, a managing partner of Align.
Operating Partner Dave Tiley, Vice President James Moss, and Associate Scott Robbins worked alongside Mr. Jones on the acquisition of StenTech.
Align Capital Partners makes control investments in companies that have from $3 million to $10 million of EBITDA. Sectors of interest include business services, technology, specialty manufacturing, distribution, and healthcare.
© 2022 Private Equity Professional | July 8, 2022
