Vitrek Corp., Poway, CA, a manufacturer of electrical safety test and measurement equipment with a primary focus on high-voltage applications, was sold to the New York-based Branford Castle private-equity firm, according to press releases from PierCap Partners, San Diego, CA, a mergers and acquisition (M&A) investment banking firm, that handled the sale, and Branford Castle.
"We are moving rapidly to deploy our investors' capital, and Vitrek represents an exciting growth opportunity," said David Castle, managing partner of Branford Castle Partners, in the Branford Castle press release. "We are especially pleased to be partnering again with Don Millstein, who is taking over as operating executive and chairman of Vitrek. Don previously partnered with Branford Castle as president of E-Mon, a leading manufacturer of electrical sub-metering equipment that Branford sold for an 11x return."
According to the PierCap Partners press release, Vitrek was founded by Kevin and Cindy Clark in 1990. Vitrek is a manufacturer of electrical safety test and measurement equipment, with a primary focus on high-voltage applications. The firm serves a diverse group of domestic and international customers from its headquarters in Poway, including many Fortune 1000 companies and premier brands in the electrical, electronic, medical, cable, power, lighting, appliance and industrial sectors. The terms of the transaction were not disclosed.
PierCap Partners focuses on partnering with already strong companies with less than $100 million in sales, working with them to strengthen operations and facilitate growth to maximize their potential.
The firm’s purchase of Vitrek will allow the manufacturer to expand its research and development capabilities, invest in new product innovation, increase its sales and marketing capacity, expand production and add personnel.