SOUTHLAKE, Texas and MERRIMACK, New Hampshire – February 26, 2019 – Insight Equity Holdings LLC (“Insight Equity”), a leading middle-market private equity firm, is pleased to announce that its high-reliability electronics manufacturing services (“EMS”) portfolio company, VirTex Enterprises (“VirTex”), has acquired Circuit Technology LLC (“Cirtech”) from its founders.
Based in Merrimack, New Hampshire, Cirtech is an electronics manufacturing services company that provides contract manufacturing of high-reliability components, predominately to the aerospace and defense industry. The Company’s single facility location in southern New Hampshire has allowed Cirtech to develop long-term relationships with key defense customers in the region. With over 30 years of service within the EMS industry, Cirtech is known for its quality manufacturing of mission-critical products in the high-mix, low-volume production environment.
Brad Heath, CEO of VirTex, commented, “Cirtech extends VirTex’s geographic reach further into the northeast aerospace and defense corridor, enhancing our relationships with key military customers. Cirtech also brings expertise in flex board production to the VirTex platform, which will be beneficial for our existing customers. Adding Cirtech to the VirTex platform enhances the services and capabilities we are able to offer to both Cirtech’s and VirTex’s existing customers.”
Victor Vescovo, a Managing Partner at Insight Equity, noted, “the acquisition of Cirtech further establishes VirTex’s position as a leading nationwide EMS partner for low-volume, high complexity manufacturing within our core markets of aerospace and defense, medical, and industrial technology.”
Jeff Sterrett, a Vice President at Insight Equity, added, “Cirtech’s operational expertise and experienced leadership team will be major assets to the VirTex platform and its existing customers. We are excited to be able to provide all of VirTex’s and Cirtech’s customers with enhanced capabilities, expanded geographic presence, and improved economies of scale as a result of this transaction.”
VirTex Enterprises manufactures printed circuit board assemblies and other critical electronic systems for small and medium-sized customer programs, predominantly focused in the aerospace and defense, industrial, and medical industries. In addition to traditional EMS services, VirTex drives value and innovation with its customers through engineering and design expertise, which allows VirTex to deliver comprehensive, tailored solutions that are specific to each customer. With distinct expertise in military products and medical devices, VirTex has facilities with AS9100, ISO-13485, and FDA 21 CFR 820 certifications across its platform. VirTex is based in Austin, Texas, with additional manufacturing facilities located in Wisconsin, New Jersey, Massachusetts, Virginia, and Juarez, Mexico.
Insight Equity makes control investments in strategically viable, middle-market manufacturing and distribution businesses across a wide range of industries. Leveraging a proven, collaborative value creation model, Insight Equity facilitates operating enhancements and growth. The firm specializes in partnering with companies in complex or challenging situations, including corporate divestitures, management buyouts, aggressive growth opportunities, going-private transactions, restructurings, and transitions from family ownership. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.