MC ELECTRONICS LLC HAS BEEN ACQUIRED BY VOLEX PLC
Birmingham, Michigan – June 4, 2018 – Angle Advisors is pleased to announce that Volex PLC (AIM:VLX) has acquired MC Electronics LLC (“MC Electronics”) from Nova Capital Management (“Nova Capital”). Angle Advisors acted as the exclusive investment banking advisor to MC Electronics in completing this transaction.
Founded in 1981 and based in Hollister, California, MC Electronics is a leading contract manufacturer of mission-critical custom cables, wire harnesses, and electromechanical assemblies for the medical equipment industry. Utilizing a flexible assembly cell manufacturing model, MC Electronics focuses on low volume, high mix products. With facilities in both Hollister, California and Juarez, Mexico, MC Electronics utilizes its strategic footprint to serve a blue-chip customer base. For more information, please visit www.mcelectronics.com.
"This acquisition represents an important first step in expanding Volex's presence in the cable assembly business," said Nat Rothschild, executive chairman of Volex. "MC brings new customer relationships to Volex and also the opportunity to integrate our Mexican operations over time, to improve our profitability and competitiveness."
“The MC Electronics team is very excited about partnering with Volex and growing together,” said Barrett Heywood, Chief Executive Officer of MC Electronics. “I am very grateful to the Angle team for all of their hard work and support in navigating us through the sale process.”
Founded in 2002 and based in London, United Kingdom, Nova Capital Management is a private equity firm which acquires businesses from corporate or financial sellers. Nova Capital is sector and geographic agnostic and seeks control positions. Nova Capital seeks companies with a combined enterprise value typically in the range of $50-$500 million and has executed transactions with a value of over $1.7 billion since 2002. For additional information, please visit www.nova-cap.com.
Founded in 1919 and based in Surrey, United Kingdom, Volex PLC (AIM:VLX) is a publicly traded, global supplier of power cords and cable assembly solutions servicing a diverse range of markets, including consumer electronics, medical equipment, data centers, telecommunications, industrial robotics and the automotive industry. Volex has eight manufacturing facilities located across six countries and employs approximately 6,000 employees across 19 countries. For additional information, please visit www.volex.com.
Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the industrial sector. The firm’s professionals have completed 191 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.