SOURCE: Charlesbank Capital Partners

Charlesbank Capital Partners

December 09, 2010 16:15 ET

Charlesbank Capital Partners Announces Investment in OnCore Manufacturing

BOSTON, MA--(Marketwire - December 9, 2010) - Charlesbank Capital Partners announced today that it has acquired OnCore Manufacturing Services. Based in Springfield, MA, OnCore is a leading provider of high-complexity electronics manufacturing services (EMS). The transaction was funded with equity provided by Charlesbank and existing management as well as with third-party debt.

With four manufacturing facilities in the United States and one in Mexico, OnCore provides design and manufacturing of complex electronic assemblies and system integration. The company serves blue-chip OEM customers in the defense, healthcare and industrial markets, a combined $3 billion specialty sub-segment of the North American EMS market. Its products are used in a wide range of critical end-applications, including encrypted mobile communications and radar systems; automated medication dispensary systems and lab test equipment; and digital cinema projectors and high-speed broadband infrastructure.

"OnCore is a leader in an attractive segment of the EMS industry and has a long-standing history of deep partnerships with its customers," said Michael Choe, Charlesbank managing director. "We are very pleased to partner with this exceptional management team, which brings a wealth of experience growing EMS operations on a global scale. The combination of this management talent and OnCore's solid manufacturing infrastructure creates an ideal platform for growth." 

OnCore CEO Dan Perez said, "We see a tremendous opportunity to continue to grow our business by enhancing OnCore's service offering to our customers. We are excited about our partnership with Charlesbank, as we have a shared vision for growth and believe that now is an ideal moment to realize that vision."

OnCore was advised by BofA Merrill Lynch on this transaction.

About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $2 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, typically investing in companies with enterprise values of $100 million to $750 million. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantages and excellent prospects for growth. Visit www.charlesbank.com for more information.

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