-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Compass Diversified Announces Sale of Advanced Circuits to APCT
January 17, 2023 | Globe NewswireEstimated reading time: 1 minute
Compass Diversified, an owner of leading middle market businesses, today announced it has entered into a definitive agreement to sell its majority owned subsidiary, Compass AC Holdings, Inc., the parent company of Advanced Circuits, Inc., to APCT, Inc., a leading manufacturer of high reliability printed circuit boards, and portfolio company of Industrial Growth Partners.
Under the terms of the Agreement, Advanced Circuits will be sold to APCT for an enterprise value of $220 million cash at close, subject to certain working capital and other adjustments. CODI expects to realize a pre-tax gain on the sale of Advanced Circuits of between $100 million to $110 million. Net proceeds will be used to pay off outstanding revolver borrowings.
“We partnered with John and Jeff Yacoub and the Advanced Circuits management team over sixteen years ago. They have been exceptional partners and friends over that period, and we are proud to have supported them as they built a true industry leader at Advanced Circuits,” said Elias Sabo, CEO of Compass Diversified. “We believe our permanent capital structure and the longer holding period it afforded CODI in this partnership helped create significant value for our shareholders. APCT represents the right partner for the Company in the next step of its journey and we wish them success.”
John Yacoub, CEO of Advanced Circuits, commented: “We are grateful for our partnership with the CODI team and are excited about Advanced Circuits’ opportunities ahead under new ownership. During our time with CODI, we have bolstered our market-leading position and pursued other areas of growth. We look forward to Advanced Circuits’ next chapter, and we’re confident that our partnership with APCT will enable us to further our position as an industry leader and deliver the high-quality products our customers expect. We thank the CODI team for their longstanding support.”
The closing of this transaction is subject to customary terms and conditions, including regulatory approval, and is expected to occur in February 2023.
Jefferies LLC acted as exclusive financial advisor and Ropes & Gray LLP acted as legal counsel to CODI. Kirkland & Ellis LLP acted as legal counsel to APCT.
Suggested Items
MKS Instruments Reports Q1 2024 Financial Results
05/09/2024 | MKS Instruments, Inc.MKS Instruments, Inc., a global provider of enabling technologies that transform our world, reported first quarter 2024 financial results.
Punching Out: Breaking Out of the Valuation Box
05/09/2024 | Tom Kastner -- Column: Punching Out!Most companies are in a “valuation box.” That is, the value of the company, based on a market multiple, is not equal to the value of the assets. Or worse, once debt is paid off, the net proceeds would actually be negative. Here are some tips for getting out of the box.
Incap Releases Unaudited Business Review for January–March 2024
05/08/2024 | IncapRevenue for the first quarter 2024 amounted to EUR 51.4 million (1–3/2023: EUR 72.2 million). Year-on-year the revenue decreased 29.3%, as expected.
Schweizer Electronic: Business Development in Q1 2024
05/08/2024 | Schweizer Electronic AGThe sales of the SCHWEIZER Group amounted to EUR 39.2 million in the first quarter of 2024 (Q1 2023: EUR 37.1 million). This corresponds to an increase of +5.5 percent compared to the same quarter of the previous year.
Key Tronic Announces Results for Q3 of Fiscal Year 2024
05/08/2024 | Globe NewswireFor the third quarter of fiscal year 2024, Key Tronic reported total revenue of $140.5 million, compared to $164.6 million in the same period of fiscal year 2023.