MC Assembly Acquires the EMS Assets of Chase Corporation
Palm Bay, FL – June 30, 2010– MC Assembly, a leading mid-tier EMS provider, announced today that it has acquired the EMS assets of Chase Corporation (NYSE: CCF). Located in Winchester, Massachusetts, the EMS division of Chase Corporation is a well-established provider of contract electronic manufacturing services to many of New England’s most respected companies. With a commitment to quality and service, the EMS division focuses on services customers in both medical and industrial end markets. In addition to printed circuit board assembly, the EMS division also provides sub assembly and fully tested box build services. Over the coming months, the EMS division will be re-branded under the MC Assembly banner.
“We are excited about the opportunity to expand our business reach through this transaction,” said George Moore, Chief Executive Officer at MC Assembly. “We believe there is tremendous opportunity in the Northeast and the EMS division of Chase is a great platform for us to grow. Their philosophy and culture are very complimentary with ours and the enhanced services that we can provide as an integrated organization will benefit the customers of both companies.”
As a part of MC Assembly, the business will continue to operate from its existing facility in suburban Boston and no changes to the management team are planned. “This is an ideal step forward for us,” said Ron Barilone, General Manager of the acquired business. “By joining up with MC Assembly’s capabilities in Florida and Mexico, we will be able to offer our customers a one-stop solution for all of their EMS needs. Moreover, since the transaction expands our current capabilities, we will be ideally positioned to pursue new markets and larger accounts. This move clearly reinforces our position as the leading mid-tier EMS provider in New England.”
About MC Assembly:
MC Assembly, based in Palm Bay, FL with operations in Winchester, Massachusetts and Zacatecas, Mexico, is a national leader in the contract manufacturing arena with annual revenues of approximately $200 million. It provides turnkey solutions to original equipment manufacturers and focuses on assembly of medium volume, medium mix printed circuited boards (PCBs). MC Assembly’s capabilities include surface mount and pin-through-hole interconnection technologies, PCB DFM and DFT engineering, in-circuit, functional and environmental testing, full box-build and direct order fulfillment. Key Principal Partners, a $1-billion private equity firm, acquired majority ownership of MC Assembly in 2007.
About Key Principal Partners
Key Principal Partners (KPP) is a $1 billion private investment firm that provides expansion capital to profitable middle-market companies with at least $30 million in revenue. The firm has the flexibility to provide any combination of subordinated debt, preferred equity and/or common equity in either non-control (minority ownership) or control (majority ownership) positions. KPP can invest between $10 million and $40 million to facilitate the growth, acquisition, refinancing, deleveraging or liquidity needs of private company owners and their management teams. Affiliated with KeyCorp, KPP is headquartered in Cleveland, and has additional offices in Greenwich, and San Francisco.