M&A Deal Summary

VirTex Acquires MTI Electronics

On December 2, 2013, VirTex acquired electronics company MTI Electronics from Merit Capital Partners

Acquisition Highlights
  • This is VirTex’s 1st transaction in the Electronics sector.
  • This is VirTex’s 1st transaction in the United States.
  • This is VirTex’s 1st transaction in Wisconsin.

M&A Deal Summary

Date 2013-12-02
Target MTI Electronics
Sector Electronics
Buyer(s) VirTex
Sellers(s) Merit Capital Partners
Deal Type Add-on Acquisition

Target

MTI Electronics

Menomonee Falls, Wisconsin, United States
MTI International, Inc. is a provider of electronic contract manufacturing services, including the design and testing of PCB assemblies and custom thick-film hybrid circuit design and manufacturing. MTI Electronics was founded in 1976 and is based in Menomonee Falls, Wisconsin.

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Buyer(S) 1

Buyer

VirTex

Austin, Texas, United States

Category Company
Sector Semiconductors
DESCRIPTION

VirTex manufactures printed circuit board assemblies and other critical electronic systems for small and medium-sized customer programs across a wide range of industries, including industrial, aerospace and defense, automotive, and medical. VirTex is based in Austin, Texas.


DEAL STATS #
Overall 1 of 4
Sector (Electronics) 1 of 3
Type (Add-on Acquisition) 1 of 4
State (Wisconsin) 1 of 1
Country (United States) 1 of 4
Year (2013) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-17 PPI-Time Zero

Paterson, New Jersey, United States

PPI-Time Zero, Inc. is an electronic manufacturing services provider, with product offerings in design and engineering, bare printed circuit board manufacturing, and assemblies. PPI-Time Zero was founded in 1970 and is based in Paterson, New Jersey.

Buy -

Seller(S) 1

SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 25 of 52
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 11 of 27
State (Wisconsin) 4 of 6
Country (United States) 25 of 51
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Kinex Medical Company

Waukesha, Wisconsin, United States

Kinex Medical Company provides unique Continuous Passive Motion (CPM) and Cold Therapy devices as part of their Phase I Rehabilitation therapy. Kinex Medical Company is based in Waukesha, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Carter-Waters Construction Materials

Overland Park, Kansas, United States

Carter-Waters Construction Materials is a distributor of construction supply materials. Carter-Waters offers 17 locations across Missouri, Kansas, Illinois, Ohio, Kentucky, & Indiana to serve customers’ construction material and equipment needs. Carter-Waters also maintains an extensive rental inventory of concrete forming and shoring products, operates a custom rebar fabrication facility, manufactures special asphalt product at the Saturock Plant and provides estimating and detailing services for bid lettings.

Buy -