Praesidian Capital Invests in Power Design Services
NEW YORK--(BUSINESS WIRE)--Jul 12, 2018--Praesidian Capital, a leading provider of senior and subordinated capital for small and mid-sized businesses, announced today that it agented a $22.4 million senior debt investment to support the merger of Power Design Services, LLC (“Power Design”) and Green Circuits, Inc. (“Green Circuits”).
Power Design, an Evolve Capital platform company, provides turnkey printed circuit board (“PCB”) design, prototype, and production services with a focus on speed and service. Green Circuits is a full-service manufacturer focusing on prototyping and high mix, medium volume assembly.
“Both Power Design and Green Circuits are driven to provide high-quality design, prototyping and production services with a customer-first attitude,” stated Joe O’Neil, President of Power Design. “Their combination creates tremendous upside. Praesidian’s support and ability to meet an aggressive closing timeline were key to the transaction’s success.”
Ryan Shultz, a partner at Evolve Capital, commented: “We are always excited to have Praesidian as partners. We have closed several investments with the Praesidian team and they have consistently delivered.”
“We see great value in this business and are pleased to support such a talented management team,” remarked Glenn Harrison, Praesidian Capital Partner. “The acquisition will enhance the commitment to service, speed, and quality present in both organizations.”
ABOUT POWER DESIGN AND GREEN CIRCUITS
Together, Power Design and Green Circuits represent a full-service contract manufacturer for the Electronics Manufacturing Services (EMS) industry with a focus on prototyping and high mix, medium volume assembly. The combined company provides high speed, precision assembly of all types of printed circuit boards and specializes in quick turn manufacturing services where reduced time-to-market is essential to the latest technologies to meet the demands of both lead free and leaded manufacturing. Their objective is to provide solutions through all phases of product assembly, with processes and systems that are registered to AS9100 and ISO13485 quality standards.
ABOUT PRAESIDIAN CAPITAL
Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe. Praesidian invests in established small and mid-sized companies, often in connection with management buyouts, recapitalizations, and refinancings. Based in New York with an office in London, Praesidian manages nearly $1 billion in committed capital. For more information, visit praesidian.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180712005459/en/
CONTACT: Abernathy MacGregor
Sydney Isaacs, 713.817.9346
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: SMALL BUSINESS MANUFACTURING OTHER MANUFACTURING PROFESSIONAL SERVICES FINANCE
SOURCE: Praesidian Capital
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PUB: 07/12/2018 09:01 AM/DISC: 07/12/2018 09:01 AM