SOUTHLAKE, Texas; Fairfield, NJ – September 24, 2018 – Insight Equity Holdings LLC (“Insight Equity”), a leading middle-market private equity firm, is pleased to announce that its electronics manufacturing services (“EMS”) portfolio company, VirTex Enterprises (“VirTex”), has acquired PPI-Time Zero (“PPI”) from Guardian Capital Partners.
Based in Fairfield, NJ, PPI-Time Zero is a leading electronics manufacturing services company which provides contract manufacturing of highly reliable components to the aerospace and defense, medical, and industrial electronics industries. PPI has locations in Fairfield, New Jersey, Waynesboro, Virginia, and Norwood, Massachusetts. With 40 years of service within the EMS industry, PPI is known for its superior quality manufacturing of mission-critical products in the low-to-medium volume production environment.
Brad Heath, CEO of VirTex, commented, “PPI provides many additional services that our customers have been asking for. We now can provide a single source for electronic design, metal fabrication, and wire and cable assembly, as well as the traditional services of supply chain, PCBA assembly, and system build. This opens many new opportunities for our customers to consolidate their supply base with VirTex with the new capability to take a project from inception, through end of life, all with in house resources.”
Victor Vescovo, Managing Partner at Insight Equity, noted, “the acquisition of PPI significantly enhances 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.”
Luke Bateman, a Senior Vice President at Insight Equity, added, “PPI’s proven engineering and design expertise and motivated 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 PPI’s customers with enhanced capabilities, expanded geographic presence, and improved economies of scale as a result of this transaction.”
About VirTex Enterprises
VirTex Enterprises manufactures printed circuit board assemblies and other critical electronic systems for small and medium-sized customer programs across a wide range of industries, including: industrial, aerospace and defense, automotive, and medical. By providing a focused market-segment approach, VirTex is able to bring greater value and innovation to its customers, improve OEM competitiveness, and deliver comprehensive, tailored solutions that are specific to each customer. VirTex is based in Austin, Texas, with additional manufacturing facilities in Menomonee Falls, Wisconsin and Juarez, Mexico.
About Insight Equity
Insight Equity (www.insightequity.com) 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.