Unicorn Investment Bank acquires 80% equity stake in a leading US electronics manufacturing services firm
Bahrain, 13 January 2008 - Unicorn Investment Bank B.S.C. (c) (Unicorn) announces the acquisition of an 80% equity stake in Victron, Inc. (Victron), a specialty provider of high-mix, complex electronics manufacturing services based in Fremont, California.
Established in 1983, Victron is a leading provider of Electronic Manufacturing and Supply Chain Management services to a variety of Original Equipment Manufacturers (OEMs) in the communications, networking, medical, automotive, consumer and wireless industries. Victron’s unique proprietary software allows the company to integrate its operations with those of its parts suppliers and customers, which in turn results in minimal inventory, low operating costs and the ability to offer customers a one-day manufacturing cycle.
Commenting on the acquisition, Aamir Khan, Managing Director of Global Private Equity at Unicorn, said: “Victron combines strong execution capabilities with highly flexible operations, resulting in a unique and highly competitive business model. The company has developed strong relationships with its customers and operates in a very attractive niche. We look forward to working with Victron’s highly experienced management team to support the company’s next phase of growth in selective overseas markets.”
Chris Lee, President of Victron, commented: “Our partnership with Unicorn will allow us to further leverage our core competencies to serve the growing number of companies with high-mix electronics needs. We are excited at the opportunity of working with Unicorn’s team to explore international expansion opportunities.”
The investment in Victron marks Unicorn’s second high profile private equity transaction in the United States in the past month. In December, Unicorn announced the acquisition of a 75% equity stake in Open-Silicon, Inc., a leading US microchip designer and manufacturer.
ABOUT VICTRON, INC.
Founded in 1983 and headquartered in Fremont, California, Victron provides leading edge Electronic Manufacturing and Supply Chain Management services to a variety of leading Original Equipment Manufacturers (OEMs) in the communications, networking, medical, automotive, consumer and wireless industries.
The company is ISO9001:2000 registered and operates under IPC 610 (Class I, II, and III) manufacturing standards. Victron’s goal is to provide total customer satisfaction through the timely delivery of quality products and services with a highly competitive cost structure. The company operates under a Total Quality Management System and encourages the continuous improvement of performance across all areas of the company.
Victron’s service offerings include: Printed circuit board assembly; design for manufacturability; design for test; final assembly/box build; consigned and turnkey project management; quick-turn prototype and new product introduction services; packout; materials management; and an internally-developed and state-of-the-art MRP system.