SMT manufacturer StenTech acquired by Align Capital Partners
Private equity form Align Capital Partners is acquring StenTech, a provider of SMT, stencils, pallets, tooling, and related components to more than 2’000 customers across North America.
StenTech has grown from a single location in 1999 to become – according to a press release – ”a key partner in the supply chain for the semiconductor and electronics manufacturing industries”.
We were looking for an investment partner who understood our market and was committed to maintaining the high levels of customer service we are known for within the SMT community. Align Capital Partners’ relevant specialty manufacturing experience, track record of partnering with management teams through successful leadership transitions and overall growth resources, fit our needs perfectly, said Sibthain “Sip” Akbar, the company’s founder, in the press release.
As part of the transaction, Mr. Akbar will step down as President of StenTech and will transition to the Company’s Board of Directors. Sip will be succeeded in the President role by Brent Nolan, current Vice President. Both executives will remain shareholders of the business.
Over the past 20 years, Sip has grown StenTech from just an idea to the preeminent provider of stencils in North America. I am excited for the opportunity to lead StenTech through its next chapter of growth, said Brent in the press release.
ACP is thrilled to partner with Brent and the StenTech team to build upon the Company’s leadership position. As a growth investor, we’re excited about the opportunity to invest in StenTech’s commercial and operational capabilities in support of the Company’s already strong position as a supply chain partner of choice to Tier 1 contract manufacturers and OEMs across North America, said ACP Managing Partner Chris Jones, in the press release.