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Cleveland private equity firm CapitalWorks LLC has completed a majority investment in Libra Industries Inc.

Mentor-based Libra is a contract manufacturer of engineered printed circuit board assemblies, electromechanical assemblies and electronic control solutions.

As a leading EMS contract manufacturer serving the medical, aerospace and defense and industrial markets, Libra is expected to complement fellow contract manufacturer GEMCITY Engineering and Manufacturing, a 2017 CapitalWorks investment.

Senior financing was provided by CIBC. Ironwood Capital provided subordinated debt and equity. CapitalWorks, LLC was advised by Benesch, Friedlander, Coplan & Aronoff on the transaction.