News

Hidden Harbor Capital Partners has acquired California-based Masterwork Electronics, a maker of printed circuit board assemblies. No financial terms were disclosed. B. Riley FBR advised Masterwork on the deal.

PRESS RELEASE

Fort Lauderdale, Florida, August 1, 2018 – Hidden Harbor Capital Partners (“Hidden Harbor”), an operationally focused private equity firm specializing in control investments in lower middle market companies, is pleased to announce the acquisition of Masterwork Electronics, (“Masterwork”), a top manufacturer of printed circuit board assemblies (PCBA) for leading global companies.

Founded in 1994 in order to meet the increasing worldwide demand for PCBA and Cable & Harness Assembly, Masterwork Electronics is today one of the premier Electronics Manufacturing Service (EMS) providers. The company serves a diverse mix of customers from North America, representing varied markets including telecom, industrial hardware, payment processing, electric vehicle charging, and home automation.

With California-based corporate leadership and state-of-the-art production facilities just over the border in Mexicali, Mexico, Masterwork Electronics is the go-to nearshoring provider of high quality and low-cost manufacturing solutions.

“Masterwork has made significant investments in state of the art manufacturing equipment and facilities in Mexico,” said John Caple, Managing Partner at Hidden Harbor. “We are excited about Masterwork’s growth prospects as it continues to focus on superior service, innovative solutions and a high performance culture for the benefit of its customers, suppliers and employees.”

“Masterwork is eager to partner with Hidden Harbor, which will bring the resources and capital to continue our strong record of performance and support our next phase of growth,” said Paul Morben, CEO of Masterwork. “With Hidden Harbor’s superior operational support, we will continue to provide best-in-class customer service to our customer base.”

Commenting on the transaction, Masterwork founder Rob Weed (Chairman of the Board post transaction), said, “We are very pleased to welcome Hidden Harbor as a partner to work with Masterwork to further accelerate our business growth and bring proven operational expertise in continuing our focus on superior service and solutions for our customers.”

Hidden Harbor’s acquisition of Masterwork closed on July 27, 2018. Silver Point Capital provided financing for the transaction, and B. Riley FBR served as an advisor to Masterwork. Configure Partners and Lincoln International served as financing and M&A advisors, respectively, to Hidden Harbor.

About Masterwork Electronics
Founded in 1994, Masterwork Electronics is today one of the premier Electronics Manufacturing Service (EMS) providers, and serves a diverse mix of Original Equipment Manufacturers (OEMs) from North America and beyond, representing varied markets including telecom, industrial hardware, payment processing, electric vehicle charging, and home automation. With California based corporate leadership and state-of-the-art production facilities just over the border in Mexicali, Mexico, Masterwork Electronics is the go-to nearshoring provider of high quality/low-cost manufacturing solutions. For more information, visit http://www.masterworkelectronics.com/index.php.

About Hidden Harbor Capital Partners
Hidden Harbor Capital Partners is a private equity firm with an operations soul and intense passion for building great companies. Hidden Harbor brings large-scale, private equity experience and resources to the lower middle market with a focus on value-oriented, operationally intense situations. Our principals are InvestorOperators® who bring over 55 years of both extensive transaction and operating experience to truly understand your business. As one team, we partner and work hand-in-hand with our portfolio companies to drive business successes. For more information, visit www.hh-cp.com.