Minneapolis, MN — Printed Circuits, Inc. (“PCI” or the “Company”), a leading rigid-flex printed circuit board (“PCB”) manufacturer, has been acquired by All Flex Flexible Circuits, LLC (“All Flex”), a portfolio company of Granite Equity Partners (“Granite”). FocalPoint Partners, LLC (“FocalPoint”) served as exclusive financial advisor to PCI.
Founded in 1977, PCI has over 40 years of experience developing high reliability rigid-flex printed circuit boards and other specialty electronics that enable and support mission critical technologies for OEM customers in aerospace, defense, medical device, and other specialty industrial markets. With roots dating all the way back to the Manhattan Project, PCI has helped pioneer the development of rigid-flex circuit technology powering some of today’s most technologically advanced and complex systems – particularly in the fields of military aerospace (“mil-aero”) and defense electronics.
“I am thrilled for PCI to begin this new chapter through partnership with All Flex and Granite,” commented Ken Tannehill, PCI’s Founder, President, and CEO. “The complement of PCI’s expertise in rigid-flex and All Flex’s position in the flexible circuit market offers a truly unique and strategic combination to our collective customers. The FocalPoint team did an amazing job of representing PCI and its shareholders. Their intimate knowledge of the printed circuit board industry and defense electronics landscape was invaluable in driving an exceptional and efficient outcome.”
Michael Del Pero, Managing Director and leader of FocalPoint’s Industrials practice, said, “Ken and the rest of the PCI team have built an exceptional business with a suite of differentiated capabilities. We are proud to have advised them in this important transaction, which brings together two of the leading independent flex and rigid-flex players. This represents the second closed transaction for FocalPoint in the PCB space in recent months, despite the challenges of the ongoing COVID pandemic. We have now closed six transactions in the broader EMS and interconnect sector over the last 18 months, which is an area of growing strategic focus for our Industrials practice.”
About Printed Circuits, Inc.
Printed Circuits, Inc. is a leading provider of rigid-flex printed circuit boards and specialty electronics serving high reliability and mission critical functions for technologically advanced customers and applications. The Company has over 40 years of experience designing and constructing rigid-flex PCBs, and possesses numerous industry qualifications, including ISO and Mil-Spec certifications. Printed Circuits was formed in 1977 and is based in Minneapolis, Minnesota. For more information, please visit www.printedcircuits.com.
About All Flex Flexible Circuits, LLC
All Flex Flexible Circuits, LLC is a provider of specialty flex circuits and value-add assemblies. The products offered today include multi-layer, Maxi-Flex®, rigid flex, and heater circuits. All Flex serves the medical, military, instrumentation, aerospace, industrial, and telecommunications industries. All Flex Flexible Circuits was formed in 1991 and is based in Northfield, Minnesota. For more information, please visit www.allflexinc.com.
About Granite Equity Partners
Granite Equity Partners is a private equity firm headquartered in St. Cloud, Minnesota. The firm specializes in financing buyouts, recapitalizations, and growth company transactions which include the sale or purchase of a business, generational transfers, or business expansions. Granite Equity Partners invests human and financial capital from its investors, executives, and advisors to advance select companies toward their full potential. The partners are a diverse group of experienced professionals who are committed to the success of the companies they invest in. For more information, please visit www.graniteequity.com.
About FocalPoint Partners, LLC
Founded in 2002, FocalPoint has grown to become one of the larger middle market investment banks in the country, with approximately 60 professionals who deliver a diversified suite of advisory services to clients, including mergers and acquisitions, private placements (both debt and equity), financial restructurings, and special situations transactions. With offices in Los Angeles, Chicago, New York, and Shanghai, the firm provides global advisory services to middle market clients and has a dedicated Industrials practice. To learn more, visit focalpointllc.com and follow us on LinkedIn and Twitter.
Please contact Michael Del Pero, Managing Director, at 310-405-7005; firstname.lastname@example.org, or Will Bower, Senior Vice President, at 310-405-7026; email@example.com, with any questions regarding this transaction.