Crestview Partners, a private equity firm, has acquired Emerald EMS from New Water Capital.

Emerald is an electronics manufacturing services provider focused on high-mix, low-volume engineering, design, prototyping, testing, assembly and lifecycle support services for OEMs. The firm services customers in semiconductor equipment, industrial controls, utility infrastructure, aerospace, defense and medical industries.

“We believe Emerald is well positioned to benefit from long-term secular tailwinds in digitization, industry 4.0 and 5G, which are driving higher levels of electronic content and product sophistication across industries as devices become more interconnected and generate increasing quantities of data,” added Bradford Williams, principal at Crestview. “With increased scale and investment, we believe Emerald can further enhance its services, capabilities and solutions to become an even more value-added partner to its customers.”

“We believe Crestview’s highly complementary experience and commitment to continuing Emerald’s acquisition expansion strategy will enable us to reach our growth potential,” commented Vic Giglio, CEO of Emerald. “We are proud of the results we have achieved in partnership with New Water and are thankful to their team for all of their support.”