Lane42 Investment Partners provided a senior secured term loan to Principal Mineral in support of its acquisition of Isola Group, a manufacturer of copper-clad laminates (CCLs) and dielectric prepreg materials used in the production of advanced multilayer printed circuit boards. Financial terms of the transaction were not disclosed.
Through this transaction, Principal Mineral will establish a vertically integrated Western foil-to-laminate platform. The acquisition will strengthen Principal Mineral’s ability to serve customers across the electronics value chain while enhancing manufacturing capabilities and supply-chain resilience for critical industries.
“Principal Mineral is building a highly differentiated platform at the intersection of advanced manufacturing, critical materials and supply chain resilience,” Cass Traub, co-founder, chief operating officer and chief financial officer of Lane42, said. “The acquisition of Isola creates a strategically important supplier serving defense, electronics and industrial end markets, and we are pleased to provide financing that supports the company’s long-term growth objectives. This transaction reflects the type of opportunity we seek at Lane42: strong assets, experienced leadership, meaningful scale and exposure to attractive long-term growth trends.”
Rob Ruberton, co-founder and portfolio manager of Lane24, added, “One of Lane42’s core strengths is partnering with management teams pursuing strategically significant opportunities where traditional financing solutions may not fully address a company’s needs. This transaction demonstrates Lane42’s ability to deliver flexible financing for high-quality businesses operating in sectors we believe are critical to U.S. economic growth and industrial reshoring.”
Adam Johnson, co-founder and CEO of Principal Mineral, said, “We are entering a transformative phase of growth for Principal Mineral, and Lane42’s partnership provides the strategic resources needed to drive continued innovation and growth in the strategic materials and minerals space to better support our customers. Lane42’s creativity and ability to move quickly throughout the process were instrumental in helping us achieve our objectives.”
Holland & Knight served as legal counsel to Principal Mineral. Latham & Watkins served as legal counsel to Lane42. Reed Smith acted as legal counsel to Isola.
