(May 26, 2010) – Rockwood Equity Partners, LLC, a private investment firm based in Cleveland and New York, announced today that in partnership with second generation founding family members and management, it has acquired the assets of Minco Technology Labs, Inc. (“Minco” or the “Company”), a fab-less assembler, processor and value-added distributor of mission critical semiconductors and components used in military and aerospace applications as well as medical equipment, down-hole drilling equipment and other applications requiring high-reliability components.
In connection with the investment, Don Potter, President and founding family member, will assume the CEO position and founder Liz Coker will assume a position on the Board of Directors. The transaction will provide partial liquidity to the founding family and properly position Minco with additional human and financial capital for current growth plans. “Rockwood’s experience, track record and approach in partnering with founding families made it the ideal candidate to partner with Minco, the senior management team and our family,” said Potter.
Headquartered in Austin, Texas, Minco’s products include cutting edge technology, as well as hard to find, obsolete high reliability products for mission critical applications. The Company’s products are used in both new sub assemblies as well as in the replacement market.
“Minco represents a model example of Rockwood’s investment strategy” said Owen Colligan, Managing Director at Rockwood. “This is an opportunity for Rockwood to support the generational transfer of a manufacturer/distributor of highly engineered products in a niche segment of the defense and aerospace market, an arena in which we have enjoyed a strong investment track record. Minco has an excellent reputation for providing its customers with high quality products and reliable service, and we look forward to supporting management with specific human and financial capital in conjunction with the growth of the business.”