Williamsport, PA – Acquisitions continue unabated in the EMS industry, with Primus Technologies the latest firm to be snatched up, according to CIRCUITS ASSEMBLY sources. Financial terms of the transaction have not been disclosed.

New York-based One Equity Partners, a middle market private equity firm, has purchased Primus, an EMS firm based in Williamsport, PA, with annual revenues over $100 million.

Last July, OEP bought the EMS assets of Sparton Corp., which has since been renamed Spartronics. The combined companies will have annual revenues of around $420 million, a source with knowledge of the transaction told CIRCUITS ASSEMBLY.

Primus primarily supplies the military, aerospace, medical, industrial and transportation sectors. Key customers have included Raytheon, General Dynamics and Kaman.

Spartronics has eight locations in the US and one in Vietnam. The sites perform a variety of design, assembly and aftermarket services, primarily for the high-end reliability sector.

“Primus Technologies has established itself as a leader in the electronics manufacturing services space, particularly among key aerospace and defense customers,” said Paul Fraipont, president and CEO of Spartronics. “Our investment in Primus demonstrates our ability to acquire great businesses with complementary strengths. We look forward to working together with the proven team at Primus to grow Spartronics with an expanded footprint and broader capabilities. The Primus campus in Williamsport is well-suited to accommodate our growing company. We plan to relocate our headquarters from Watertown, SD, to Williamsport in the near future.”

Chip Schorr, senior managing director at OEP, agreed. “We believe that the manufacturing expertise of Primus with its strong customer relationships provides the ideal addition to help Spartronics build a leading global electronics manufacturing services provider.”

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