SANTA CLARA, CA -- The owners of APCT Inc. have acquired fellow printed circuit board fabricator Tech Circuits for an undisclosed sum.
Wallingford, CT-based company, Tech Circuits has been manufacturing rigid printed circuit boards since 1979 under the ownership of Gregory Peterson and Philip Walton.
In announcing the acquisition, APCT chief executive Steve Robinson said, "The union of Tech Circuits with APCT brings together two companies with very complementary business models and core competencies. I am excited about the depth, experience and expanded capacity we now have to offer our valued customers. The outstanding management team and employees of Tech Circuits have built a solid reputation in our industry and my entire team is excited about the conceivable synergy this acquisition presents.”
The growth of APCT in the Silicon Valley drove APCT to make the move.
"Our Santa Clara facility has been growing 25% annually the past several years and we really needed an Eastern presence and the additional capacity," Robinson told PCD&F. The Tech Circuits facility will remain open and APCT is making "major investments" in capital to its operations.
Peterson and Walton plan to retire after a short transition period. "They have built a nice business there," Robinson said. "They are great to work with, have built a solid management team and have been incredibly generous owners for 37 years."