Affiliates of Lindsay Goldberg, a New York-based private investment firm, has purchased Summit Interconnect from HCI Equity Partners, a lower-middle-market private equity firm.
Summit is a manufacturer of printed circuit boards.
Shane Whiteside, president and CEO of Summit stated, “I decided to partner with the HCI team because I trusted they would be an excellent, long-term business partner. Their unwavering commitment to our shared vision, strong business acumen and excellence in M&A execution helped accelerate our creation of a preeminent, advanced technology PCB manufacturer. I am very proud of what we have accomplished together.”
Doug McCormick, HCI’s managing Partner commented, “We are honored to have had the opportunity to work with the Summit team over the past five years. They have delivered great value for our investors and built a better business with a better value proposition for key stakeholders, customers and employees alike. We wish them well in the next chapter of their growth under new ownership.”
Harris Williams acted as financial advisor and McDermott Will & Emery LLP acted as legal counsel to Summit Interconnect on the transaction. Lazard acted as financial advisor and Cravath, Swaine & Moore LLP acted as legal counsel to Lindsay Goldberg.