BDA advises The Crossbow Group on divestment of D&H Manufacturing to Celestica Inc
Business Development Asia LLC (“BDA”) is pleased to report that its client, The Crossbow Group (“Crossbow”), a California-based private equity firm has divested its portfolio company, D&H Manufacturing Company (“D&H”), to Celestica Inc., a global leader in Electronics Manufacturing Services, for approximately US$70 million. BDA acted as the exclusive financial advisor to Crossbow on this transaction.
Based in Fremont, California, D&H is a leading provider of precision machined components and assemblies, coupled with dedicated capacity and equipment for prototype and quick-turn support to the world’s leading semiconductor capital equipment OEMs. The company generates approximately US$80 million in annual revenue, and currently employs approximately 350 people.
D&H further strengthens Celestica’s diversified markets offering, building on its acquisition in 2011 of Brooks Automation’s Semiconductor Equipment Contract Manufacturing Operations. This acquisition supports Celestica’s strategy to grow and diversify its revenue base in the Industrial, Aerospace and Defense, Semiconductor Equipment, Green Technology and Healthcare end markets.
Angelo Grestoni, Member-Manager of Crossbow, commented “We are pleased to have secured the right future owner for D&H going forward. We know Celestica to be a high quality partner for the business. We’re confident D&H will be in safe hands. We’re grateful to the BDA team for helping us to identify several potential future partners for D&H, and then to execute a transaction which is in the best interests of our customers, employees, and shareholders. BDA did a good job.”
BDA Transaction Team
Euan Rellie, Senior Managing Director, New York
Justine Mannering, Director, New York
Taylor Whitman, Assistant Director, New York
Jordan Selleck, Associate, New York
About The Crossbow Group
The Crossbow Group is a private equity firm based in Fremont, California, that invests in the Industrial, Semiconductor and Technology sectors. It acquired D&H Manufacturing Company in 1996 and successfully consolidated local competitors in the surrounding area.
About Celestica Inc. (www.celestica.com)
Celestica is dedicated to delivering end-to-end product lifecycle solutions to drive customers’ success. Through simplified global operations network and information technology platform, Celestica are solid partners who deliver informed, flexible solutions that enable customers to succeed in the markets they serve. Committed to providing a truly differentiated customer experience, Celestica’s agile and adaptive employees share a proud history of demonstrated expertise and creativity that provides customers with the ability to overcome any challenge.
About BDA (www.bdallc.com)
Business Development Asia LLC (“BDA”) is a leader in cross-border investment banking. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996, and has built a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe and Asia. BDA was named Investment Banking Firm of the Year by M&A Advisor in December 2010. BDA is headquartered in New York with offices in London, Beijing, Shanghai, Hong Kong, Mumbai, Bahrain, Seoul and Tokyo.
For more information regarding this transaction, please contact Euan Rellie in New York at (+1) 212-265-5300 or Paul DiGiacomo in Hong Kong at (+852) 2537-9565.