Crestview Acquires Emerald EMS
Emerald EMS is a Leading Solutions Provider to Blue-Chip Companies Across a Range of Industries
$900 Billion Global Electronics Manufacturing Services Industry Poised to Benefit from Strong Secular Tailwinds
Crestview Partners (“Crestview”), a leading private equity firm, announced today that it has completed the acquisition of Emerald EMS (“Emerald” or the “Company”) from New Water Capital (“New Water”). Crestview is investing alongside the existing management team led by CEO Vic Giglio, who will continue to lead the Company. Financial terms of the transaction were not disclosed.
Headquartered in Salem, NH, Emerald is an electronics manufacturing services (“EMS”) provider specializing in high-mix, low-volume engineering, design, prototyping, testing, assembly and lifecycle support services for blue-chip original equipment manufacturers across a range of end markets. The products manufactured by Emerald serve applications that require white glove service and the highest engineering, technical, quality and reliability standards given their mission-critical nature in industries with high costs of failure. The Company services customers in the semiconductor equipment, industrial controls, utility infrastructure, aerospace, defense and medical industries out of six facilities across the U.S. and one in China.
“We believe Emerald is well positioned to benefit from long-term secular tailwinds in digitization, industry 4.0 and 5G, which are driving higher levels of electronic content and product sophistication across industries as devices become more interconnected and generate increasing quantities of data. These rapid electronification tailwinds are driving increased demand for Emerald’s solutions, which we expect will continue for years to come. With increased scale and investment, we believe Emerald can further enhance its services capabilities and solutions to become an even more value-added partner to its customers.”
“This investment builds directly on Crestview’s experience building leading solutions-oriented companies to help customers be more efficient along the journey from concept to full-volume production, including JMP Solutions, JR Automation and SyBridge Technologies, We are thrilled to be partnering with Vic and the rest of the Emerald management team and look forward to adding additional companies and competencies to the Emerald platform to accelerate growth while continuing to provide best-in-class service and solutions to its customers around the world.”
“We are excited to have Crestview as our partner for this next phase in Emerald’s evolution. Our focus on providing high-quality and high-reliability solutions to our customers is unwavering, and we look forward to having additional scale and resources to continue these efforts. We believe Crestview’s highly complementary experience and commitment to continuing Emerald’s acquisition expansion strategy will enable us to reach our growth potential. We are proud of the results we have achieved in partnership with New Water and are thankful to their team for all of their support.”
As a result of this transaction, Emerald’s Board of Directors is now comprised of Vic Giglio and Ron Menigoz from Emerald’s management team, Hartmut Liebel, a 20- plus year technology industry executive and former CEO of Sanmina, Crestview Operating Executive Jason Luo and Crestview’s Alex Rose, Bradford Williams and Ryan Roberts.
About Emerald EMS
Headquartered in Salem, NH, Emerald is an electronics manufacturing services provider specializing in high-mix, low-volume design, prototyping, testing, assembly and lifecycle support services (supply chain management, order fulfilment and reverse logistics) for OEM customers with a focus on high-density electronic assemblies, specifically printed circuit boards and box-builds/systems integrations. With engineering services and manufacturing facilities located domestically in California, Michigan and New Hampshire, and a facility in Shenzhen, China, Emerald EMS has the scale and service offering typically only available at the largest of EMS companies but with high-touch, white glove design, manufacturing and assembly customer service. For more information, please visit www.emeraldems.com.
About Crestview
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media and financial services. For more information, please visit www.crestview.com.
