Industrial Growth Partners has entered into a definitive agreement to sell AdvancedPCB Holdings to Amphenol Corporation, transferring a major independent North American printed circuit board supplier serving defense, aerospace, and industrial customers. AdvancedPCB is headquartered in Aurora, Colorado, and operates six U.S. facilities.
Founded in 1977, the company provides high-reliability printed circuit board technologies for mission-critical electronics applications.
Industrial Growth Partners acquired AdvancedPCB alongside members of management and outside co-investors in October 2021.
During IGP’s ownership, AdvancedPCB expanded both organically and through acquisitions as the company increased its exposure to defense and other high-reliability markets.
IGP and management invested in program management capabilities, technical sales, engineering resources, manufacturing capacity, automation, and assembly operations.
The company also completed multiple add-on acquisitions that helped create an integrated PCB platform operating under a single brand.
AdvancedPCB serves established aerospace and defense prime contractors as well as emerging defense technology companies, where demand for sophisticated and highly reliable electronics has been increasing.
The transaction will place AdvancedPCB within Amphenol, a global provider of electronic and fiber optic connectors, interconnect systems, antennas, sensors, and related products.
AdvancedPCB management said Amphenol’s broader electronics footprint should provide additional resources to support the company’s continued growth.
The transaction remains subject to U.S. regulatory approvals and customary closing conditions.
Industrial Growth Partners was founded in 1997 and has raised more than $3.4 billion of equity capital since inception.
The San Francisco-based private equity firm invests exclusively in middle-market industrial companies and typically works alongside existing management teams on operational improvements, expansion, and acquisitions.
KEY QUOTES:
“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.”
Greg Halvorson, CEO Of AdvancedPCB
“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.”
Eric Heglie, Managing Partner At Industrial Growth Partners
