NEOTech has been acquired by Connecticut-based private equity firm Arkview Capital.
NEOTech, a California-based electronic manufacturer with operations in Westborough, has been acquired by Connecticut-based private equity firm Arkview Capital, in a move expected to strengthen the firm’s financial standing.
“This partnership will allow us to accelerate our strategic initiatives, expand our service offerings, and continue investing in the talented team that has been the cornerstone of our success,” Jim Doyle, NEOTech CEO, said in press release from the company.
The company has 90 employees at its Westborough facility, out of 2,650 at nine locations throughout the U.S. and Mexico, according to date NEOTech provided to the WBJ Research Department.
NEOTech is an electronics manufacturing services provider, meaning the firm is contracted to produce electronic components used by manufacturers in the aerospace and defence, medical, and industrial sectors.
The firm produces microelectronic circuits, insulating materials to mount electronics onto, and radio frequency regulators, according to NEOTech’s website.
Financial terms of the acquisition were not disclosed. WBJ has reached out to Arkview to confirm the purchase price.The deal was first announced in November.
“NEOTech has built a strong reputation for quality, reliability, and customer focus,” Pavel Chernyshov, Arkview co-founder, said in the release. “We look forward to working closely with the NEOTech team to capitalize on new growth opportunities.”
NEOTech used Chicago-based Lincoln International as financial advisor, California-based Sheppard, Mullin, Richter & Hampton as merger and acquisition counsel, and New York-based Paul, Weiss as legal counsel.
New York-based Greenberg Traurig served as advisor for Arkview.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
