Zentech Raises Millions for Future Growth
BALTIMORE -- EMS firm Zentech Manufacturing has raised $5.6 million to support future growth, the company told CIRCUITS ASSEMBLY.
Funding is being supplied by NewSpring Capital, a private equity group. In addition, Zentech has agreed to a new $7.7 million credit facility with Cole Taylor Bank.
In a related move, Zentech named Gregory Barger and Anne Vazquez of NewSpring Capital as directors.
Company president Matt Turpin told CIRCUITS ASSEMBLY the funds will be used to support growth, but contrary to previous reports the company does not have any acquisition targets in mind.
NewSpring has raised over $800 million to invest, according to reports. Access to that a fund with substantial capital is attractive in the event an acquisition presented itself, Turpin noted, while reiterating that none is under consideration at present.
Ed.: This story was updated at 8:30 pm.
Press Releases
- Surf-Tech Manufacturing Corp. Ensures World-Class Quality with Advanced Conformal Coating Services
- Luminovo Partners with Sluicebox to Offer an Industry-First Instant Product Carbon Footprint for Electronics
- The Assembly Show and SMTAI Announce Colocation in October
- SIA Applauds CHIPS Act Incentives for GlobalWafers Projects in Texas and Missouri