M&A Deal Summary

VirTex Acquires PPI-Time Zero

On September 17, 2018, VirTex acquired electronics company PPI-Time Zero from Guardian Capital Partners and Patriot Capital

Acquisition Highlights
  • This is VirTex’s 2nd transaction in the Electronics sector.
  • This is VirTex’s 2nd transaction in the United States.
  • This is VirTex’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2018-09-17
Target PPI-Time Zero
Sector Electronics
Buyer(s) VirTex
Sellers(s) Guardian Capital Partners
Patriot Capital
Deal Type Add-on Acquisition

Target

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.

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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 2 of 4
Sector: Electronics M&A 2 of 3
Type: Add-on Acquisition M&A Deals 2 of 4
State: New Jersey M&A 1 of 1
Country: United States M&A 2 of 4
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-02 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-22 Circuit Technology

Merrimack, New Hampshire, United States

Circuit Technology LLC is an electronics manufacturing services company that provides contract manufacturing of high-reliability components, predominantly to the aerospace and defense industry. Circuit Technology is based in Merrimack, New Hampshire.

Buy -

Seller(S) 2

SELLER

Guardian Capital Partners

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Guardian Capital Partners is a smaller private equity firm focused on control investments in family-owned companies and corporate divestitures. Guardian looks for profitable businesses with a 'history of stability' and a 'strong instaleed customer base'. Prospective opportunities are located in the US and typically generate sales of $20 to $150 million. Target sectors include industrial, manufacturing, business services, consumer products, and healthcare/medical devices. Guardian Capital Partners was formed in 2007 and is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 6 of 11
Sector: Electronics M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 7
State: New Jersey M&A 2 of 2
Country: United States M&A 6 of 11
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-02 Direct Line

Fremont, California, United States

Direct Line provides network cabling, infrastructure, and staffing services to data centers and other mission-critical environments. Direct Line has unique expertise in managing the complexities of installing, designing, and maintaining customized data and fiber optic cabling for data centers across various end markets. Direct Line was established in 1997 and is based in Fremont, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-11 TacMed Solutions

Anderson, South Carolina, United States

TacMed Solutions is a developer and manufacturer of hemorrhage control and related safety products for emergency trauma care across the military, law enforcement, fire & emergency services, and civilian end markets. TacMed Solutions is known for delivering patented products and kitted solutions that address a full continuum of care, from the point of injury through emergency transportation and into a medical care facility. TacMed Solutions was founded in 2003 and is based in Anderson, South Carolina.

Buy -
SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


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 $5 to $25 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 32 of 55
Sector: Electronics M&A 2 of 2
Type: Add-on Acquisition M&A Deals 20 of 32
State: New Jersey M&A 4 of 5
Country: United States M&A 32 of 55
Year: 2018 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-07 Pure Wafer

San Jose, California, United States

Pure Wafer is a provider of silicon wafer reclaim services and supplies virgin silicon wafers, specialty thin film deposition products, and silicon parts services. Pure Wafer was founded in 2008 and is based in San Jose, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-25 iShared.com

Tampa, Florida, United States

iShared.com is a third-party logistics & asset-light transportation services provider. The Company’s comprehensive brokerage servicing offering spans nationwide, across multiple modes of transportation, including Load-to-Ride (“LTR”), Less-than-Truckload (“LTL”), truckload, and rail/intermodal brokerage. iShared.com was founded in 1980 and is based in Tampa, Florida.

Buy -