Spartronics, a portfolio company of One Equity Partners, a middle market private equity firm, and a contract manufacturer of complex electronic and electromechanical devices for commercial aerospace, defense, space, instrumentation and control, life sciences and medical device applications, has completed the acquisition of Inovar Inc.
Headquartered in North Logan, Utah, Inovar provides engineering, manufacturing, product assemblies and aftermarket services that are used by original equipment manufacturers (OEMs) in the aerospace, defense, medical and industrial markets.
“We are thrilled to accelerate the growth of Spartronics by identifying and completing the transformational acquisition of Inovar, a deal that reflects OEP’s strategy of transforming middle market businesses into market leaders,” said Chip Schorr, senior managing director at OEP. “We believe that Inovar’s deep expertise within the aerospace and defense sectors will allow Spartronics to better serve our customers in these industries,” added Charlie Cole, Principal at OEP.
“Inovar is the Rocky Mountain leader for full-service Tier 3 EMS,” said Paul Fraipont, president and CEO of Spartronics. “It focuses on the same core market verticals as Spartronics, which has a very strong position in aerospace and defense. Acquiring Inovar sharpens our focus on those core market verticals. Inovar’s attractive near-shore footprint in Tecate, Mexico, complements our unique and growing off-shore capability in Vietnam.”