APCT

APCT manufactures advanced, quick turn printed circuit board prototypes for Consumer Electronic, Medical Device and Department of Defense applications

Status: Exited
Investment Date: May 2019
Business model: Niche Manufacturing
Sub-sector: Industrial Technology
Transaction type: Partnership with Management
Exit date: October 2021

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Investment thesis:

• Acquire a collection of five largely unintegrated manufacturing facilities and partner with a veteran management team to unlock meaningful operational value

Value creation levers:

• Strategically repositioned the business to serve higher margin customers in more attractive end markets

• Integrated five autonomous manufacturing facilities under one operating structure, enabling sharing of resources, standardization of processes and leveraging combined purchasing power

• Implemented operational improvements: improved manufacturing efficiency, revamped pricing strategy, executed strategic vendor negotiations, and consolidated IT systems

Exit:

• Sold APCT to Industrial Growth Partners, a private equity firm