LOUISVILLE, KY — A Louisville-based private equity firm has acquired Mirac Inc., an Ohio-based electronics assembly and fabrication company.

Terms of the acquisition were not disclosed.

Weller Equity Partners, a private equity firm that invests in lower middle-market companies throughout the Mid-South, today announced it recapitalized Lynchburg, OH-based Mirac. Founded in 1992, Mirac specializes in design, fabrication and assembly of printed circuit boards and wire harnesses for the energy/petroleum, consumer and commercial/industrial sectors. It has some 100 employees and operations in Lynchburg and a second facility in West Union, OH, which it opened in 2018 to expand its services.

"As part of our investment criteria, we look for strong regional companies with identifiable competitive advantages in their industries, as well as experienced management teams that are vested in their company’s success," said Dale Boden, co-managing partner, Weller Equity Partners. "We are excited to work with the Mirac team led by Ralph Captain, who has been active in the electronics industry since the 1980s with experience in many different specialties. Weller’s investment provides growth capital needed to expand distribution and service offerings while maintaining Mirac’s industry leading quality and delivery standards. This investment is a great fit for our growing portfolio of manufacturing investments.”

“This investment from Weller Equity Partners validates Mirac’s competitive advantage and industry leadership,” said Ralph Captain, Mirac’s president and CEO. “I recognized that I am not getting any younger and wanted to find a growth partner capable of taking Mirac’s business to the next level. After meeting with the Weller team, it became clear to me that they can provide the necessary resources, both in terms of capital investment and strategic expertise, to support our growth initiatives.”

Captain will maintain a significant ownership stake and continue with the business as an officer and member of the company’s board.