Align Capital Partners (“ACP”) is pleased to announce the acquisition of StenTech, the leading provider of surface mount technology (“SMT”) stencils, pallets, tooling, and related components to more than 2,000 customers across North America.
StenTech has grown from a single location in 1999 to become a key partner in the supply chain for the semiconductor and electronics manufacturing industries. Stencils play an essential role in the SMT manufacturing process as customized, high impact products which are mission-critical to customers’ operations. StenTech’s brand is anchored by its commitment to customer service and technical expertise, and the Company’s ability to provide finished stencils with industry-leading turnaround times.
“We were looking for an investment partner who understood our market and was committed to maintaining the high levels of customer service we are known for within the SMT community,” said Sibthain “Sip” Akbar, the Company’s founder. “Align Capital Partners’ relevant specialty manufacturing experience, track record of partnering with management teams through successful leadership transitions and overall growth resources, fit our needs perfectly.”
As part of the transaction, Mr. Akbar will step down as President of StenTech and will transition to the Company’s Board of Directors. Sip will be succeeded in the President role by Brent Nolan, current Vice President and long-time industry leader. Both executives will remain shareholders of the business.
“Over the past 20 years, Sip has grown StenTech from just an idea to the preeminent provider of stencils in North America,” said Brent. “I am excited for the opportunity to lead StenTech through its next chapter of growth.”
ACP’s investment in StenTech represents the first institutional capital in the business since the Company’s founding in 1999. “ACP is thrilled to partner with Brent and the StenTech team to build upon the Company’s leadership position,” said ACP Managing Partner Chris Jones. “As a growth investor, we’re excited about the opportunity to invest in StenTech’s commercial and operational capabilities in support of the Company’s already strong position as a supply chain partner of choice to Tier 1 contract manufacturers and OEMs across North America.”
Operating Partner Dave Tiley, Vice President James Moss, and Associate Scott Robbins worked alongside Mr. Jones on the transaction. StenTech was advised on the transaction by Torkin Manes LLP, while ACP was advised by Calfee, Halter & Griswold LLP.
About StenTech
StenTech is a leading manufacturer of stencils and related custom products for applications in electronics and SMT manufacturing across North America. The Company is a critical supply chain partner serving more than 2,000 customers, including leading OEMs and Tier 1 contract manufacturers. With 16 locations across the US, Canada, and Mexico, StenTech has the geographic reach and technical expertise to be a thought partner to customers, delivering high quality components with minimal lead times required. For more information, visit stentech.com.
About Align Capital Partners
Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages $775 million in committed capital with investment teams in Cleveland and Dallas. ACP brings experience and resources to help lower-middle market companies accelerate their growth, to the benefit of management, employees, and the firm’s investors. ACP makes control investments in differentiated companies within the business services, technology, specialty manufacturing and distribution sectors. For more information, visit aligncp.com.
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Contacts
Media Inquiries
Katie Noggle
216-505-6463
knoggle@aligncp.com
