Graycliff Partners Announces Sale of Impakt Holdings
NEW YORK--(BUSINESS WIRE)--Nov 12, 2018--Graycliff Partners LP today announced the completion of the sale of Impakt Holdings, LLC to Celestica Inc. (NYSE, TSX: CLS), a leader in design, manufacturing and supply chain solutions for the world’s most innovative companies, for a total purchase price of approximately $329 million. With operations in California and South Korea, Impakt provides design, engineering and agile manufacturing solutions for the display, solar and other capital equipment industries, as well as specialized services that require large format, high-mix complex manufacturing and integration solutions.
Since acquiring Impakt in 2016, Graycliff has teamed with management to identify and execute numerous transformational initiatives to position the company for growth, including building out a robust and experienced management team, rebranding the company and implementing a new global ERP system. Additionally, Impakt completed a tuck-in acquisition and expanded its footprint in South Korea, a strategically vital geography due to its proximity to major display and semiconductor manufacturers.
Duke Punhong, Graycliff Partners Managing Director, said “We are pleased to have partnered with Dan Rubin and the rest of the management team at Impakt to grow and improve the business. We believe Impakt will be a great fit with Celestica and wish the team a successful future.”
“Graycliff has been an outstanding partner over the past three years. Their extensive resources and strategic guidance have been integral to the success of the business,” said Dan Rubin, CEO of Impakt. “We look forward to bringing our unique expertise and capabilities to the Celestica team.”
About Graycliff Partners LP
Graycliff Partners is an investment firm focused on lower middle market investments. Graycliff seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.
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SOURCE: Graycliff Partners LP
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PUB: 11/12/2018 08:30 AM/DISC: 11/12/2018 08:30 AM