First acquisition in the planned specialized interconnection platform
PAINESVILLE, Ohio, April 19, 2022 /PRNewswire/ — Arcline Investment Management (“Arcline”), a growth-focused private equity firm, today announced the acquisition of Meritec Inc. (“Meritec” or “the Company”), including its wholly owned subsidiary Joy Signal Technology. Arcline expects Meritec to be the first of several potential acquisitions as the company seeks to build a specialized interconnects platform.
Kevin Perhamus, an industry veteran with over 25 years of experience, will serve as the platform’s Managing Director. Prior to joining Arcline, Kevin spent 10 years as CEO of Winchester Interconnect.
With 50 years of innovation, Meritec designs and manufactures high performance in-vehicle interconnect systems and connectors. The company specializes in highly engineered electronic interconnect solutions for high-density, high-speed applications from leading original equipment manufacturers in the global semiconductor, military, aerospace, medical and industrial end markets.
Arcline commented, “Meritec is a wonderful foundation on which to build a platform of outstanding interconnect manufacturers.
John T. “Jack” Venaleck Sr., Founder of Meritec, said, “We are proud of the company we have built through the efforts of our associates and partnership with our customers. I am convinced that great things are to come thanks to Arcline’s investment. in our future.”
Kevin Perhamus added: “Meritec is a loyal partner to its customers, enabling them to bring cutting-edge technologies to their industries. I am excited about the next phase of my partnership with Arcline and look forward to building on the momentum Meritec has created.
Houlihan Lokey was financial advisor to Arcline.
Meritec designs and manufactures embedded interconnect systems and high performance connectors. Meritec and Joy Signal Technology specialize in highly engineered electronic interconnect solutions for high-density, high-speed applications from leading original equipment manufacturers in the global semiconductor, military, aerospace, medical end markets and industrial. For more information, visit meritec.com and joysignal.com.
About Arcline Investment Management
Arcline is a growth-oriented private equity firm with $4.4 billion in accumulated capital commitments. Arcline seeks to invest in globally meaningful, technology-driven industrial companies that enable a better future. For more information, visit www.arcline.com.
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SOURCE Arcline Investment Management