M&A Deal Summary

Lorom Acquires Segue Manufacturing Services

On February 14, 2023, Lorom acquired manufacturer Segue Manufacturing Services from Axia Partners and Massachusetts Capital Resources Company

Acquisition Highlights
  • This is Lorom’s 1st transaction in the Manufacturing sector.
  • This is Lorom’s 1st transaction in the United States.
  • This is Lorom’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2023-02-14
Target Segue Manufacturing Services
Sector Manufacturing
Buyer(s) Lorom
Sellers(s) Axia Partners
Massachusetts Capital Resources Company
Deal Type Add-on Acquisition

Target

Segue Manufacturing Services

North Billerica, Massachusetts, United States
Segue Manufacturing Services provides high-value, cost-effective manufacturing solutions for highly engineered products for military, solar, medical, semiconductor and industrial capital equipment. Segue Manufacturing Services was founded in 1991 and is based in North Billerica, Massachusetts.

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Buyer(S) 1

Buyer

Lorom

Taipei, Taiwan

Category Company
Founded 1988
Sector Manufacturing
DESCRIPTION

Lorom is a manufacturing solutions provider focusing on specialized cable manufacturing and assembly. In addition to its core cable technologies, Lorom also offers plastic injection, stamping, die-casting, printed circuit board assembly, and tooling processes, and possesses customized component design and manufacturing capabilities. Lorom was founded in 1988 and is based in Taipei, Taiwan.


DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1

Seller(S) 2

SELLER

Axia Partners

Boston, Massachusetts, United States

Investor Investor


Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Axia Capital is a private equity investment and advisory firm. Axia Capital looks to invest in under-appreciated technology assets generating revenues of $3 to $50 million. Specific areas of interest include industrial and laboratory automation, robotics and controls; enterprise software and services; sensors and instrumentation; and industrial capital equipment. Targeted transactions include acquisitions of non-core divestitures, recapitalizations, and situations requiring growth capital. Axia Capital looks to $1 to $ 5 million per transaction. Axia Capital was formed in 2003 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 4 of 4
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Massachusetts) 3 of 3
Country (United States) 4 of 4
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-08 Network Vision

Newburyport, Massachusetts, United States

Network Vision, Inc. is a developer and marketer of unique network management software solutions focused on the rapidly growing industrial Ethernet market. Network Vision was founded in 2002 and is based in Newburyport, Massachusetts.

Sell -
SELLER

Massachusetts Capital Resources Company

Boston, Massachusetts, United States

Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1977
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Massachusetts Capital Resource Company (MCRC) is a limited partnership privately owned and funded by Massachusetts-based life insurance companies. MCRC provides mezzanine financing for businesses with $3 to $100 million in revenue seeking capital to fund growth, strengthen balance sheets, or complete acquisitions. MCRC will consider investments in technology and non-technology companies seeking capital of $1 to $5 million. MCRC was formed in 1977 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 11 of 11
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 9 of 9
State (Massachusetts) 10 of 10
Country (United States) 11 of 11
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-12 Oofos

Braintree, Massachusetts, United States

Oofos designs, distributes, and sells active recovery footwear. Oofos footwear is made from a special foam which provides 37% more cushion than a running shoe to recharge your body and reduce stress on your feet and joints. Oofos was founded in 2011 and is based in Braintree, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-15 Qualitas Dental Partners

Boston, Massachusetts, United States

Qualitas Dental Partners enables partner dentists to devote more time and energy to providing quality care to their patients. Qualitas Dental Partners was founded in 2022 and is based in Boston, Massachusetts.

Buy -