Unicorn Investment Bank has acquired an 80 per cent equity stake in Victron, a specialty provider of high-mix, complex electronics manufacturing services based in Fremont, California.

The value of the transaction was $70 million, said a report.

Established in 1983, Victron is a leading provider of electronic manufacturing and supply chain management services to a variety of original equipment manufacturers (OEMs) in the communications, networking, medical, automotive, consumer and wireless industries.

Victron’s unique proprietary software allows the company to integrate its operations with those of its parts suppliers and customers, which in turn results in minimal inventory, low operating costs and the ability to offer customers a one-day manufacturing cycle, said a spokesman.

Commenting on the acquisition, Aamir Khan, managing director of Global Private Equity at Unicorn, said: “Victron combines strong execution capabilities with highly flexible operations, resulting in a unique and highly competitive business model. The company has developed strong relationships with its customers and operates in a very attractive niche. We look forward to working with Victron’s highly experienced management team to support the company’s next phase of growth in selective overseas markets.”

Chris Lee, president of Victron, said: “Our partnership with Unicorn will allow us to further leverage our core competencies to serve the growing number of companies with high-mix electronics needs. We are excited at the opportunity of working with Unicorn’s team to explore international expansion opportunities.”

The investment in Victron marks Unicorn’s second high profile private equity transaction in the United States in the past month. In December, Unicorn announced the acquisition of a 75 per cent equity stake in Open-Silicon, Inc, a leading US microchip designer and manufacturer. – TradeArabia News Service