BOCA RATON, Fla.—New Water Capital portfolio company Emerald Electronics Manufacturing Services (Emerald EMS) recently acquired Saline, Michigan-based Saline Lectronics Inc. (SLI) and Brea, California-based Veris Manufacturing, the company said in a release.
Saline Lectronics and Veris Manufacturing are electronics manufacturing service (EMS) providers that manufacture high-mix, low- to medium-volume printed circuit board assemblies (PCBAs) and box builds for high-reliability end markets. Markets served by the companies are reported to include industrial controls, aerospace and defense, and medical.
Emerald EMS launched in July 2020 with the merger of two prominent EMS companies—DataED, based in Salem, New Hampshire, and Bestronics, based in San Jose, California. Both companies were recapitalized by New Water in November 2019 as part of a series of strategic investments in the EMS sector.
“Our goal at New Water is to support and invest in businesses with enduring value propositions,” said New Water Capital Partner Brian McGee, in the release. “Both SLI and Veris embody the high quality standards, customer-first ethic, manufacturing expertise, and strong, localized customer bases that make them perfect complements to the Emerald team.”
Saline Lectronics, founded in 2002, operates a 110,000-square-foot manufacturing facility at its headquarters in Saline, Michigan. The EMS company provides engineering, printed circuit board assembly, testing, electro-mechanical box build, and direct fulfillment for complex, high-reliability electronic systems. These systems are used in the industrial controls, aerospace and defense, medical, and oil end-markets.
Veris Manufacturing, originally known as Quality Control Manufacturing, was founded in 1987 by electrical engineer John Ivory. Veris was purchased in 2001 by former CEO Bill McIlvene, who “expanded the company from a ‘mom and pop’ thru-hole shop to a world-class EMS provider,” according to the release. At its 40,000-square-foot facility in Brea, California, Veris provides high-reliability manufacturing and engineering services focused on the aerospace and medical end-markets.
“All of us at Emerald are excited about the expanded geographic reach and manufacturing capabilities that Saline Lectronics and Veris Manufacturing bring to the mix,” said Emerald EMS CEO Vic Giglio, in the release. “Their addition expands the Emerald EMS footprint into Southern California and the Midwest domestically, bringing increased geographic flexibility and expanded capacity to all of our customers.”
Day-to-day operations are expected to remain unchanged at both SLI and Veris, which will continue to operate under their existing brand names under the Emerald umbrella, Giglio said.