SOUTHLAKE, TX – A private equity firm has acquired local EMS company VirTex Enterprises, it was announced today.
An affiliate of Insight Equity Holdings bought the EMS firm and its three sites for an undisclosed sum.
VirTex has more than 165,000 sq. ft. of manufacturing space to produce electronics assemblies and complete systems for customer platforms. Volumes range from prototyping to full-scale production. Through acquisition, the company has plants in Cuidad Juarez (formerly AVJ Electronics) and Minnesota (formerly MTI Electronics).
“VirTex combines the sophisticated processes and manufacturing capabilities of a large-scale electronic manufacturing services provider with the attention and customization of a local partner, said Luke Bateman, VP of Insight Equity. “The company has advanced manufacturing and assembly capabilities, broad end-market diversification, and a deeply experienced management team that is focused on providing the highest quality of service to its customers.”
“We are enthusiastic about the future prospects for VirTex and the high-mix, low-volume electronic assembly niche that it serves,” said Victor Vescovo, COO and managing partner at Insight Equity. “ We believe our hands-on collaborative approach and financial resources will allow us to greatly enhance the opportunities available to the firm to grow organically and acquisitively in the future.”