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Industrial Growth Partners (IGP) is pleased to announce that it has entered into a definitive agreement to sell AdvancedPCB Holdings, LLC to Amphenol Corporation. The transaction is subject to regulatory approvals in the United States and customary closing conditions.
Headquartered in Aurora, CO, AdvancedPCB is a leading independent North American provider of high-reliability printed circuit board (PCB) solutions for mission-critical applications. Founded in 1977, the Company offers a wide array of PCB technologies for customers across the defense, aerospace and industrial markets from its six facilities in the United States.
IGP, together with members of the management team and certain outside co-investors, acquired AdvancedPCB in October 2021. Since that time, IGP worked with management to grow the Company, both organically and through a number of acquisitions, strengthen the Company's commercial and operational capabilities, and deepen its exposure to high-reliability end markets. Key initiatives included enhancing program management, expanding technical sales and engineering resources, and investing in manufacturing capacity, automation, and assembly capabilities. As a result, AdvancedPCB's performance improved significantly.
Greg Halvorson, CEO of AdvancedPCB, commented: "IGP has been an exceptional partner to AdvancedPCB, and their support and long-term perspective were critical as we created an integrated company serving our customers under a single brand. Their continued support has allowed us to invest in equipment, technology, and people at a time of growing demand from the aerospace & defense primes and emerging defense technology companies we serve. None of that progress would have been possible without our employees, and I want to thank them for their dedication. We look forward to building on this momentum as part of Amphenol."
Eric Heglie, Managing Partner at IGP, added: "AdvancedPCB's technical depth and capabilities in complex PCBs for mission-critical applications made it a compelling investment for IGP from the start. Through several add-on acquisitions, together with sustained investment in people, capacity, and technology, AdvancedPCB has become a leading independent PCB provider with a differentiated position in defense electronics. We are grateful to Greg and the entire AdvancedPCB team for the momentum they have created. Amphenol's reach across electronics and interconnect markets makes it well positioned to support AdvancedPCB's growth, and we wish the Company continued success."
