M&A Deal Summary

HCI Equity Partners and Patriot Capital Acquire Summit Interconnect

On April 1, 2016, private equity firms HCI Equity Partners and Patriot Capital acquired semiconductors company Summit Interconnect

Acquisition Highlights
  • This is HCI Equity Partners’ 1st and Patriot Capital’s 2nd transaction in the Semiconductors sector.
  • This is HCI Equity Partners’ 27th and Patriot Capital’s 65th transaction in the United States.
  • This is HCI Equity Partners’ 2nd and Patriot Capital’s 7th transaction in California.
Investment Fate
  • Summit Interconnect was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2016-04-01
Target Summit Interconnect
Sector Semiconductors
Buyer(s) HCI Equity Partners
Patriot Capital
Deal Type Consolidation

Target

Summit Interconnect

Anaheim, California, United States
website
Summit Interconnect is a manufacturer of advanced technology printed circuit boards. Manufacturing services include quick-turn, prototype, and production through our advanced technology facilities located in California. Summit Interconnect was founded in 2016 and is based in Anaheim, California.

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Buyer(S) 2

Buyer

HCI Equity Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

HCI Equity Partners is a private equity group that targets lower middle-market industrial product and service companies throughout North America. HCI is a 'hands on' investor, looking to assist portfolio companies with growth strategies and improving profitability. The Firm seeks opportunities with $20 to $200 million in revenues and strong management in place. Specific areas of interest include aerospace/defense, automotive and commercial vehicle suppliers, industrial distribution, infrastructure, power generation, test/measurement equipment, and transportation. HCI Equity Partners (fka Thayer | Hidden Creek Partners) is based in Washington DC.


DEAL STATS #
Overall 29 of 45
Sector (Semiconductors) 1 of 1
Type (Consolidation) 2 of 2
State (California) 2 of 3
Country (United States) 27 of 43
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 Progressive Waste Solutions

Vaughan, Ontario, Canada

Progressive Waste Solutions Ltd. is one of North America's largest full-service waste management companies, Progressive Waste Solutions Ltd. provides non-hazardous solid waste collection, recycling and disposal services to commercial, industrial, municipal and residential customers in 14 U.S. states and the District of Columbia and six Canadian provinces. Progressive Waste serves its customers with vertically integrated collection and disposal assets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-17 Herndon Aerospace & Defense

O'Fallon, Missouri, United States

Herndon Aerospace & Defense LLC is a supply chain management and consumables hardware distributor serving principally military depot aftermarket customers, as well as commercial aerospace aftermarket customers. Herndon Aerospace & Defense was founded in 2003 and is based in O'Fallon, Missouri.

Sell $210M
Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $3 to $20 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 65 of 96
Sector (Semiconductors) 2 of 4
Type (Consolidation) 5 of 6
State (California) 7 of 10
Country (United States) 65 of 96
Year (2016) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 BGSF

Plano, Texas, United States

BGSF provides staffing services to a variety of industries through its various divisions. BG Staffing is primarily a professional temporary staffing platform that has integrated several regional and national brands. BGSF was founded in 2007 and is founded in Plano, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-25 Avenger Flight Group

Fort Lauderdale, Florida, United States

Avenger Flight Group is a provider of commercial aviation simulation and training. Avenger provides simulation training to domestic and international airlines using state of the art simulators. Avenger Flight Group was established in 2012 and is based in Fort Lauderdale, Florida.

Buy -