Milwaukee-based investment bank Promontory Point Capital has advised Chicago-based circuit board product and service provider Tapco Circuit Supply on the sale of its drill room and lamination products businesses to Taiwanese company TCT Group.
Promontory Point helped Tapco’s family ownership group secure financing, design and implement profit improvement plans and analyze its strategic options. The company decided to sell two of its business segments to take advantage of a favorable M&A market, PPC said in a release.
Several international companies expressed interest in Tapco’s drill room and lamination products segments, since they would afford a connection to the printed circuit board industry in the U.S. The acquisition was completed in the third quarter.