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Summit Interconnect (“Summit” or the “Company”), a leading provider of high performance, complex printed circuit boards serving the aerospace, defense, and other highly demanding commercial sectors, today announced that affiliates of Lindsay Goldberg – a leading private investment firm that focuses on partnering with families, founders and management teams – have completed a majority investment in the Company in partnership with the Company’s President and CEO, Shane Whiteside, and other members of the Company’s management team. Terms of the transaction were not disclosed.
Summit Interconnect is one of the leading providers of complex rigid and flexible printed circuit boards in North America, offering solutions ranging from advanced prototyping to high mix, low-to-mid volume production. Summit serves customers across the aerospace, defense and other highly demanding commercial sectors and has facilities in California, Illinois, and Toronto, Canada. The Company is recognized as an industry leader in quick-turn manufacturing and has expertise with a wide range of materials including high speed digital, RF/microwave and mixed constructions.
Shane Whiteside, Summit’s President and CEO, commented on the transaction, “This is an important milestone in Summit’s evolution. We are excited to continue expanding our capabilities and delivering for our customers in partnership with Lindsay Goldberg, a firm with deep expertise in the electronics manufacturing and aerospace and defense sectors and a proven track record of working closely with management teams to build great businesses. We are also grateful for the support and contributions to our business provided by HCI Equity Partners over the past five years.”
“Summit Interconnect has established itself as an industry leader, supplying the most technologically advanced printed circuit boards to a broad range of highly demanding industries and applications. As new technologies develop and product lifecycles continue to shorten, we believe Summit will become an even more valuable partner to its customers,” said Vincent Ley, Managing Director of Lindsay Goldberg.
Michael Dees, Managing Partner of Lindsay Goldberg, added, “We are thrilled to partner with Shane and Summit’s experienced management team to build upon the Company’s strong platform and support its next phase of growth.”
Harris Williams acted as financial advisor and McDermott Will & Emery LLP acted as legal counsel to Summit Interconnect on the transaction. Lazard acted as financial advisor and Cravath, Swaine & Moore LLP acted as legal counsel to Lindsay Goldberg.
About Summit Interconnect
Summit Interconnect is a leading provider of complex printed circuit boards focused on fast growing defense and high-performance commercial sectors in the North American market. Summit offers solutions ranging from advanced cutting-edge prototyping to complex high mix, low-to-mid volume production. Summit’s five facilities are located across California, Illinois, and Toronto, Canada.
About Lindsay Goldberg
Lindsay Goldberg is a private investment firm that focuses on partnering with families, founders and management teams seeking to actively build their businesses. Since 2001, Lindsay Goldberg has raised more than $17 billion of equity capital and has invested in over 50 platform companies and over 250 follow-on opportunities. The firm focuses on industries that have demonstrated resilience across economic cycles, including industrials, business, government and financial services, and healthcare in North America and Western Europe. Lindsay Goldberg takes a relationship driven approach and is supported by its global network of affiliate partners.