Expands electronics manufacturing capabilities to service OEM customers
WILLIAMSPORT, Pa., Sept. 1, 2021 — Spartronics LLC, a contract manufacturer of complex electronic and electromechanical devices for commercial aerospace, defense, space, instrumentation and control, life sciences and medical device applications, has completed the acquisition of Inovar, Inc., a privately held company based in North Logan, Utah. Financial terms of the transaction have not been disclosed.
Inovar provides engineering, manufacturing, product assemblies and aftermarket services that are used by original equipment manufacturers (OEMs) in the aerospace, defense, medical and industrial markets. Inovar was founded in 1998 and has grown to become the largest independent Tier 3 electronics manufacturing service (EMS) player in the Rocky Mountain region. Today, Inovar features two state-of-the-art facilities — one in Logan and another in Tecate, Mexico — which support the varied requirements of the company’s OEM customers.
Inovar is the second acquisition in the last nine months by Spartronics. Today the company operates eight manufacturing plants in the U.S. and one in Vietnam.
“Inovar is the Rocky Mountain leader for full-service Tier 3 electronic manufacturing services,” said Paul Fraipont, president and CEO at Spartronics. “It focuses on the same core market verticals as Spartronics, with a very strong position in aerospace and defense. Acquiring Inovar sharpens our focus on those core market verticals. Inovar’s attractive near-shore footprint in Tecate, Mexico, complements our unique and growing off-shore capability in Vietnam.”
Blake Kirby, founder of Inovar concurs. ”Inovar and Spartronics have deeply aligned values, commitments and ideals toward customers and employees. This acquisition will provide world-class resources and a broader geographic footprint for customers, while creating opportunities for the team.”
Fraipont added, “Inovar has a very successful and talented team. My colleagues and I are excited to have new partners with whom to grow Spartronics. This combination is going to bring value for our customers.”
Spartronics is a portfolio company of One Equity Partners (OEP), which acquired Spartronics from Sparton Corporation in July 2020. OEP has pursued investment themes in the EMS sector since 2017, where the firm has acquired new platform companies to execute its transformational acquisition strategy to accelerate growth. OEP identified Spartronics as a strong platform company on which to leverage organic and inorganic growth opportunities in the consolidating Tier 3 EMS segment. To date, OEP has supported Spartronics in its acquisition of Primus Technologies, which closed in December 2020, and now with the acquisition of Inovar in August 2021.
To learn more about Spartronics, please visit: www.spartronics.com.
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
About Spartronics
Spartronics provides comprehensive contract manufacturing services, ranging from printed circuit board assembly (PCBA) and subsystem integration to full-box build (high-level assemblies). Additional services include engineering support such as manufacturing testing, supply chain management, sustaining engineering, and a suite of aftermarket services to support the full OEM product lifecycle. With over $500 million in revenue, approximately 1,700 dedicated employees, and manufacturing resources strategically located worldwide, our manufacturing network spans the United States, Mexico and Vietnam. Our engineering support is based in the United States and is available for product development, manufacturing readiness and ramp to production.
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