US private equity firm Saugatuck Capital has sold PPI/Time Zero, a provider electronics manufacturing services to the aerospace and defence, medical, industrial controls and instrumentation industries, to Guardian Capital Partners.
Acquired by Saugatuck in 2001, PPI specialises in surface mount, burn-in-board and printed circuit technologies to original equipment manufacturers (OEMs) in the military, aerospace, medical and controls and instrumentation markets.
Since the acquisition, Saugatuck has concentrated on building the company’s presence in the aerospace and defence markets.
The deal is the firm’s second in as many months, following its sale of floors and tiling specialist Floor and Decor Outlets of America in December, to an investor group led by fellow US firm Ares Management.
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