TCF National Bank and Patriot Capital provided financing to Naprotek in connection with the company’s acquisition by Edgewater Capital Partners. FocalPoint Partners served as financial advisor to Edgewater.
Naprotek is San Jose, CA-based electronics manufacturing services company and a provider of quick turn printed circuit board assembly services for applications in the defense, space, medical, semiconductor and specialty industrial markets.
“FocalPoint ran a competitive process to provide a wide variety of workable financing solutions. The FocalPoint team’s expertise in the PCB and Hi-Rel EMS space, as well as their capital markets expertise, was invaluable in communicating Naprotek’s differentiation to the market and ensuring an expeditious close,” Peter Ostergard, a partner at Edgewater Capital, said.
“We are thrilled for Edgewater and Naprotek to begin their partnership. It marks another closing where our capital markets practice was engaged by a sponsor to run an efficient and market clearing process, trusting our team to find the market’s best available partner and deal structure,” Thomas Mills, managing director at FocalPoint, said.
“We are proud to have advised Edgewater in its new platform investment in the EMS space. This represents the third closed transaction for FocalPoint in the PCB space in recent months and the seventh transaction in the broader EMS and interconnect sector over the last 18 months, which continues to be an area of strategic focus for our specialty industrials practice,” Michael Del Pero, managing director and leader of FocalPoint’s industrial practice, said.
Edgewater Capital Partners, headquartered in Cleveland, is a sector-focused private equity firm investing in lower middle market performance materials and services businesses.
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings and special situation transactions.