West L.A. private equity firm Vance Street Capital announced Wednesday it has agreed to sell Santa Ana’s Secure Technology Co. to Benchmark Electronics Inc. for approximately $230 million in cash.
Benchmark Electronics, which is based in Angleton, Texas, provides manufacturing and engineering services to aerospace and defense companies as well as the telecommunications and medical device industries.
Vance Street acquired a majority interest in Secure Technology, which specializes in manufacturing and system design for aerospace and defense companies, in 2009. Since then, Vance Street has made efforts to grow that company by creating an advanced technology division to take advantage of its engineering resources as well as by adding new technologies, products and customers through acquisitions, according to Vance Street Capital Managing Partner Richard Crowell.
“Secure is an impressive organization, and the success we have had in partnership with Allen Ronk and his management team has been gratifying.” Crowell said in a statement announcing the deal.
A Vance Street spokeswoman did not immediately return a request for comment.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Vance Street Capital Makes Orange County Acquisition
- Vance Street Buys Irish Aviation Firm
- Medical Unit Gets Surgical Operation
- Vance Street Capital Invests in Aerospace Maker
- Platinum Equity’s Lonza deal finalized
- Real Estate Index Has Bad News for L.A. Banks
- PE Roundup: Private Equity Deals Announced This Week
- Security Systems Maker Locks Up Industry Peer with $269 Million Deal