PITTSBURGH -- A private equity group has acquired the assets of The Millennia Group, a PCB fabricator and EMS company with multiple sites in the Midwest.

The purchase by MBG Technologies includes all assets of the former Millennia electronic assembly division located in Cheswick, PA, and the former Triangle Circuits printed circuit board division located in Oakmont, PA. Most of the 50 employees of the former Millennia are expected to be offered positions with the new company.

Terms of the deal were not disclosed.
 
“We are excited about the opportunities available in this business,” said Philip Giunto, president of MBG, in a prepared statement. “We look forward to forging new relationships and servicing the needs of our customers.”
 
Millennia founder Michael D’Ambrosio, Sr., is retiring but has offered to remain available to MBG in a consulting capacity during the transition. “After working in this industry for over 40 years, I am happy to see that customers and vendors who previously dealt with Millennia will be able to establish new relationships with MBG,” D’Ambrosio said. “I am confident in the new management’s ability to meet customer demands and expectations.”