Arcline Investment Management, a growth-oriented private equity firm, has acquired Meritec Inc., including its wholly owned subsidiary Joy Signal Technology. Arcline expects Meritec to be the first of several potential acquisitions as the firm seeks to build a specialty interconnects platform.
Kevin Perhamus, an industry veteran with more than 25 years of experience, will serve as Chief Executive Officer of the platform. Prior to partnering with Arcline, Kevin spent 10 years as Chief Executive Officer of Winchester Interconnect.
With 50 years of innovation, Meritec designs and manufactures high-performance interconnect embedded systems and connectors. The Company specializes in highly engineered electronic interconnect solutions for high-density and high-speed applications of leading original equipment manufacturers across the global semiconductor, military, aerospace, medical, and industrial end markets.
Arcline commented, "Meritec is a wonderful foundation on which to build a platform of exceptional 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 confident that great things are to come through Arcline's investment in our future."
Houlihan Lokey served as financial advisor to Arcline.