New Water Capital has merged two of its portfolio companies – DataED and Bestronics – to form Emerald EMS.
New Water acquired DataED and Bestronics – two Tier III manufacturers that provide high-mix, low/medium-volume printed circuit board assemblies and box builds – in November 2019.
DataED’s manufacturing capacity includes a 75,000 square foot facility in Salem, New Hampshire and two manufacturing plants totaling 85,000 square feet in Shenzhen, China. Bestronics operates a 145,000-square-foot manufacturing and box build facility in San Jose, California.
Now combined as Emerald EMS, the company provides contract manufacturing and assembly services to the industrial controls, semiconductor, utility infrastructure, aerospace/defense and medical sectors. The company’s services include design assistance and prototyping; assembly and manufacturing; supply chain management; product testing; and order fulfillment.
Vic Giglio, the president of DataED, will serve as CEO of Emerald EMS; and Nat Mani, the CEO of Bestronics, will serve as president of the new company.
“At New Water, we aim to support and invest in businesses with enduring value propositions,” said Brian McGee, a partner at New Water. “Emerald EMS is uniquely well-positioned, offering both global scale and geographical flexibility, to support the ‘smart’ electronics products that are increasingly permeating nearly every sector of the economy and our society.”
New Water invests in lower middle-market companies with revenues between $30 million and $300 million. Sectors of interest include consumer products and industrial manufacturing and services. The firm was founded in September 2014 and is based in Boca Raton, Florida.
Private Equity Professional | July 1, 2020
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