M&A Deal Summary

Industrial Growth Partners Acquires AdvancedPCB

On October 5, 2021, private equity firm Industrial Growth Partners acquired semiconductors company AdvancedPCB from Angeles Equity Partners

Acquisition Highlights
  • This is Industrial Growth Partners’ 1st transaction in the Semiconductors sector.
  • This is Industrial Growth Partners’ 39th transaction in the United States.
  • This is Industrial Growth Partners’ 8th transaction in California.

M&A Deal Summary
Date 2021-10-05
Target AdvancedPCB
Sector Semiconductors
Buyer(s) Industrial Growth Partners
Sellers(s) Angeles Equity Partners
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)
Massumi + Consoli (Legal)

Target

AdvancedPCB

Santa Clara, California, United States
AdvancedPCB is a manufacturer of high reliability, technologically advanced, quick-turn printed circuit board prototypes for aerospace and defense, industrial, and consumer electronics companies. The company offers its customers world-class cycle times and quality, robust engineering capabilities, and comprehensive global program management. AdvancedPCB was founded in 1977 and is based in Santa Clara, California.

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Buyer(S) 1

Buyer

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.

DEAL STATS #
Overall 40 of 45
Sector (Semiconductors) 1 of 1
Type (Secondary Buyout) 18 of 20
State (California) 8 of 8
Country (United States) 39 of 44
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-13 AEM

San Diego, California, United States

AEM designs and produces mission-critical, passive circuit protection components through two divisions. AEM’s A&D division provides advanced, high-reliability fuses, ferrite chip beads, and tin whisker mitigation products for satellite, defense, and aerospace applications. AEM’s Commercial division provides high-end SolidMatrix® and AirMatrix® surface mount fuses and inductive components for commercial applications, including IT, visual display, automotive and EV, power tools, lithium battery, 5G, IoT, security devices, and telecom. AEM is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 Royal Power Solutions

Carol Stream, Illinois, United States

Royal Power Solutions is a manufacturer of high-precision electrical connectivity components used in the electric vehicle, energy management, industrial, and mobility markets. Royal Power Solutions was founded in 1938 and is headquartered in Carol Stream, Illinois.

Sell $600M

Seller(S) 1

SELLER

Angeles Equity Partners

Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 360M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Angeles Equity Partners LLC is a private equity firm focused on acquiring North American headquartered companies valued up to $350 million. Angeles is a hands-on investor and prefers underperforming companies in need of restructuring, non-core assets of larger businesses, or family/founder owned businesses that could benefit from operational assistance. Target sectors include automotive, building materials, machinery, chemicals, electronics, manufacturing, metals, transportation/logistics, packaging, and distribution. Angeles Capital Partners was formed in 2014 and is based in Los Angeles, California.

DEAL STATS #
Overall 2 of 2
Sector (Semiconductors) 1 of 1
Type (Secondary Buyout) 1 of 1
State (California) 1 of 1
Country (United States) 2 of 2
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-29 Xanitos

Newtown Square, Pennsylvania, United States

Xanitos is a provider of outsourced hospital housekeeping services across the United States. Xanitos’s services include daily and post-discharge cleaning of patient rooms, cleaning and maintenance of flooring in common areas and passageways, and responding to situational cleaning needs. Xanitos was founded in 2008 and is based in Newtown Square, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 RōBEX

Perrysburg, Ohio, United States

RōBEX is a robotic material handling integrator that uses its uncommon experience and expertise to bring value to customers through robotic solutions that improve productivity and safety. RōBEX was founded in 2015 and is based in Perrysburg, Ohio.

Buy -
Mergr

Product

Company

Legal