Santa Clara, CA – Streamline Circuits Corp. (“Streamline” or the “Company”) is a leading manufacturer of custom, prototype, and quick-turnaround printed circuit board (“PCB”) solutions.
Founded in 2003 by industry veterans Charles “Chuck” Dimick and Greg Halvorson, Streamline offers some of the most highly engineered and technologically advanced rigid, flexible, and multilayer flex PCB solutions serving a variety of industries and applications including aerospace and defense, wearable electronics, technology miniaturization, and advanced telecommunications. Together with Summit Interconnect, the Company will be one of the largest quick-turn specialized PCB manufacturers in the U.S. For more information on Streamline, visit streamlinecircuits.com.
Regarding the transaction, Streamline CEO Chuck Dimick stated, “I am very proud of the business model we created at Streamline to serve the industry’s need for a supplier that is responsive to market demands.The opportunity to join Summit makes perfect sense. We both see a need to provide a well-funded and highly capable PCB manufacturing solution to our customers. FocalPoint was instrumental in helping us accomplish our strategic vision while achieving a positive outcome for our shareholders.” Shane Whiteside, Summit Interconnect’s current President and CEO added, “The Streamline operation significantly enhances Summit’s PCB capabilities when time and technology are critical and provides Summit with the strategic advantage of having a Silicon Valley location.” Mr. Dimick and Mr. Halvorson will remain involved in the business, while Mr. Whiteside will assume the role of CEO of the combined businesses.
Michael Del Pero, Managing Director who leads FocalPoint’s Specialty Industrials Practice commented, “We are very pleased with the outcome of this transaction and the fact that we were able to leverage multiple verticals of expertise including Advanced Materials, Aerospace and Defense, and Electronic Manufacturing Services (EMS). Chuck, Greg, and the rest of the Streamline team have built an exceptional business and we look forward to seeing what the future holds for both Streamline and Summit.”
Duane Stullich, Managing Partner of FocalPoint added, “This is the second transaction we have completed for the shareholders of Streamline and we appreciate the opportunity to have advised them and their team through this very important strategic combination. We place tremendous value on the long- term relationships we strive to build with our clients, and this most recent transaction is a testament to that.”
About Summit Interconnect, Inc.
Summit Interconnect, Inc. is a leading manufacturer of advanced technology printed circuit boards. Manufacturing services include quick-turn, prototype, and production through its advanced technology facilities located in California. Summit Interconnect is a portfolio holding of HCI Equity Partners. For more information go to www.summit-pcb.com.
About HCI Equity Partners
Established in 2000 and headquartered in Washington D.C., HCI Equity Partners is a private equity firm which invests in growth-oriented industrial product and service companies with approximately $20 to $200 million in annual revenue. The HCI Equity team has extensive experience in both private equity investing and operational leadership. For more information, please visit www.hciequity.com.
About FocalPoint Partners, LLC
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements, financial restructurings, and special situation transactions. With offices in Los Angeles and Chicago, and New York, the firm serves middle-market clients throughout the U.S. and has a dedicated Industrials practice. For more information, please visit www.focalpointllc.com.