January 2021 – Pennsylvania
NEW YORK – One Equity Partners (“OEP”), a middle market private equity firm, today announced that its portfolio company Spartronics (“the Company”), a provider of contract manufacturing and design services, has completed the acquisition of Primus Technologies Corp. (“Primus Technologies”). Financial terms of the private transaction were not disclosed.
Headquartered in Williamsport, Pennsylvania, and founded in 1959, Primus Technologies provides engineering, manufacturing and testing services of circuit card assemblies and box builds for original equipment manufacturers (OEMs) in the aerospace, defense, medical and complex industrial markets. The company operates two facilities in the United States.
“The decades of precision engineering expertise Primus brings, coupled with its excellent logistic capabilities and relationships with major U.S. defense contractors strengthens Spartronics’ ability to design industry-specific solutions for a diverse range of manufacturers serving different end markets,” said Chip Schorr, Senior Managing Director at OEP.
“We’re thrilled to welcome Primus to Spartronics as we continue to provide high-quality contract manufacturing services that enable our blue-chip OEM customers to meet an ever-evolving range of mission-critical requirements,” said Paul Fraipont, President and CEO of Spartronics. “This transaction reflects OEP’s ability to identify strategically important acquisitions that build scale and accelerate growth.”
Spartronics operates eight plants in the U.S. and one in Vietnam that manufacture printed circuit card assemblies, sub-assemblies and full product assemblies, as well as provide aftermarket repair support. The Company’s products are used in the aerospace, healthcare and industrial end markets.