San Jose, CA — Naprotek, Inc. (“Naprotek” or the “Company”) has secured financing from TCF National Bank (“TCF”) and Patriot Capital, LP (“Patriot”) in connection with its acquisition by Edgewater Capital Partners (“Edgewater”). FocalPoint Partners, LLC (“FocalPoint”) served as financial advisor to Edgewater, providing exclusive buyside and debt advisory service in the process.
Based in San Jose, California, Naprotek is an electronics manufacturing services (“EMS”) company and a leading provider of quick turn printed circuit board assembly (“PCBA”) services for high-reliability (“Hi-Rel”) applications in the defense, space, medical, semiconductor, and specialty industrial markets. With over 25 years of experience, Naprotek has a well-established base of technical expertise, personnel, equipment, and systems allowing it to support a variety of technically advanced OEM customers and mission-critical applications.
“FocalPoint ran a competitive process to provide a wide variety of workable financing solutions. The FocalPoint team’s expertise in the PCB and Hi-Rel EMS space, as well as their Capital Markets expertise, was invaluable in communicating Naprotek’s differentiation to the market and ensuring an expeditious close,” said Peter Ostergard, Partner at Edgewater Capital.
Managing Director Thomas Mills, member of FocalPoint’s Capital Markets leadership team, commented, “We are thrilled for Edgewater and Naprotek to begin their partnership. It marks another closing where our Capital Markets practice was engaged by a Sponsor to run an efficient and market clearing process, trusting our team to find the market’s best available partner and deal structure.”
Michael Del Pero, Managing Director and leader of FocalPoint’s Industrials Practice said, “We are proud to have advised Edgewater in its new platform investment in the EMS space. This represents the third closed transaction for FocalPoint in the PCB space in recent months and the seventh transaction in the broader EMS and interconnect sector over the last 18 months, which continues to be an area of strategic focus for our Specialty Industrials Practice.”
About Edgewater Capital Partners
Edgewater Capital Partners, headquartered in Cleveland, Ohio, is a sector-focused private equity firm investing in lower middle market performance materials and services businesses. Edgewater has extensive experience and expertise in the specialty industrials, advanced materials, specialty chemicals, and life sciences sectors. Twenty years of industry-specific investing has enabled the firm to develop a deep understanding of the complexities and nuances common to these businesses. The Edgewater Difference is summarized by three foundational pillars: deep sector expertise, Midwestern values and culture, and growth-enabling philosophy. For more information, visit edgewatercapital.com or email Peter Ostergard.
Naprotek is an electronics manufacturing services company and a leading provider of quick turn PCBA, design for manufacturability, system integration, and testing services for high-reliability applications. Founded in 1995, Naprotek supports its customers from its headquarters in San Jose, California. For more information on Naprotek, visit naprotek.com.
About FocalPoint Partners
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings and special situation 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 Thomas Mills, Managing Director, at 312-508-5777; Michael Del Pero, Managing Director, at 310-405-7005; or Will Bower, Senior Vice President, at 310-405-7026, with any questions regarding this transaction.