The combination of DataED and Bestronics creates a global market-leading EMS provider offering scale, geographic flexibility and enhanced capabilities to customers
BOCA RATON, Fla., Nov. 12, 2019 — (PRNewswire) — Private equity firm New Water Capital (NWC) announced today a significant new investment in the Electronics Manufacturing Services (EMS) sector, with the recapitalization of DataED and Bestronics – two Tier III manufacturers focusing on high-mix, low/medium-volume printed circuit board assemblies (PCBAs) and box builds.
Founded in 1980, Salem, New Hampshire-based DataED's manufacturing capacity includes 75,000 square feet of state-of-the-art facilities in Salem, including a New Product Introduction facility, as well as two manufacturing plants totaling 85,000 square feet located in Shenzhen, China.
Bestronics, founded in 1990, operates a world-class, 145,000-square-foot campus, including high-tech manufacturing and dedicated box build manufacturing facilities, in San Jose, Calif. The company recently was voted one of the Top 10 EMS providers in the Bay Area by Venture Outsource Magazine.
Company principals say the combination will create attractive synergies and strengthen the collective companies' ability to expand the geographic reach of each business, create end market diversification and provide additional capabilities to each business' customer base. New Water Capital partner Brian McGee said the two companies' experience serving different market sectors makes them very complimentary to each other. DataED currently specializes in highly technical, highly engineered, printed circuit board assemblies for the Semiconductor, Security, Medical, Laser and A&D end markets, while Bestronics specializes in producing highly technical, highly engineered, printed circuit board assemblies and box builds for the Power and Infrastructure, Surveying, Telecom, Medical, and Test and Measurement end markets.
"We see tremendous opportunity in providing high quality, localized electronics manufacturing services and capabilities in key North American markets while maintaining the combined company's global reach," McGee said. "At New Water, we aim to support and invest in businesses with enduring value propositions. DataED and Bestronics are exemplary of this investment strategy, with highly focused customer service models based on technical excellence, flexibility and outstanding quality. These two companies complement each other by collectively strengthening an already experienced sales teams and allowing us to leverage our combined manufacturing capabilities across North America and Asia."
"Adding Bestronics' operations to ours provides our customers with direct access to enhanced box build and system integration capabilities and clean-room assembly expertise, as well as a highly capable Silicon Valley-based process engineering and manufacturing team," said DataED CEO Vic Giglio.
"Joining with DataED will enable Bestronics to expand its global footprint and take advantage of its supply chain expertise," said Bestronics CEO Nat Mani. "DataED's dedicated NPI/Prototype center will provide our combined customers an exciting, much broader set of capabilities."
Canaccord Genuity Inc. served as an exclusive financial advisor to DataED. Lincoln International LLC served as an exclusive financial advisor to Bestronics.
About New Water Capital L.P.
New Water Capital L.P. is a private equity firm focused on lower-middle market companies, in the consumer, retail and industrial manufacturing and services sectors, with revenues of $30 million to $300 million. New Water Capital's collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths. For more information, please visit
www.newwatercap.com.
About DataED
Headquartered in Salem, NH, DataED is a high-tech, high mix, any-volume contract manufacturing and design firm. DataED supports the Electronic Manufacturing Service (EMS) industry with four global, cost-effective and high value manufacturing facilities, including a state-of-the-art New Product Introduction Center (NPI). With an international presence, DataED can offer its customers low-cost global facilities, ISO-certification and high-speed production capabilities. Serving industries ranging from high-tech to medical and military, it is known for mastering small-lot size builds and mid- to high-volume builds with exceptionally quick turnaround times, responsive customer service and a collaborative problem-solving approach to design and manufacturing. For more information, visit
www.dataed.com.
About Bestronics
Located in the heart of Silicon Valley, Bestronics specializes in high mix, low- to medium-volume manufacturing for high technology companies that require exacting quality with the convenience of local sourcing at a competitive cost. Bestronics offers facilities and trained staff supporting electro-mechanical and system assembly, reliability, precision touch-ups, in-circuit and functional tests, rework and failure analysis, complex repair depot services, final test, integration and box builds, a wide variety of sophisticated SMT placement, and clean room assembly and packaging capability. For more information, visit
www.bestronicsinc.com.
CONTACT: Bonnie Osborn
bonnieosborn@comcast.net
916-212-9110
View original content to download multimedia:
http://www.prnewswire.com/news-releases/new-water-capital-announces-recapitalization-of-two-tier-iii-electronics-manufacturing-services-ems-providers-300956529.html
SOURCE New Water Capital, L.P.
| Contact: |
| Company Name: New Water Capital, L.P., DataED, Bestronics
Web: http://www.newwatercap.com |
