Austin-based VirTex Enterprises, a vertically integrated electronic manufacturing services provider, has been acquired by a Southlake private equity firm.
An affiliate of Insight Equity Holdings LLC acquired the company for an undisclosed amount.
VirTex has over 165,000 square feet of manufacturing space with the ability to produce both complex electronic components and complete systems for customer platforms with volumes ranging from prototyping to full-scale production.
“VirTex combines the sophisticated processes and manufacturing capabilities of a large-scale electronic manufacturing services provider with the attention and customization of a local partner. The company has advanced manufacturing and assembly capabilities, broad end market diversification, and a deeply experienced management team that is focused on providing the highest quality of service to its customers. We are excited to partner with the VirTex management team to continue to grow the company and further expand its manufacturing capabilities,” said Luke Bateman, a vice president at Insight Equity.
VirTex manufactures printed circuit board assemblies and other critical electronic systems for small and medium-sized businesses across a wide range of industries, including: industrial, aerospace and defense, automotive, and medical. By providing a focused market-segment approach, VirTex is able to bring greater value and innovation to its customers, improve OEM competitiveness, and deliver comprehensive, tailored solutions that are specific to each customer, according to a news release. VirTex is based in Austin, with additional manufacturing facilities in Menomonee Falls, Wisconsin and Juarez, Mexico.
The acquisition by Insight Equity will help the company as it grows, said Brad Heath, CEO of VirTex.
“We have had many years of significant growth, and the partnership with Insight Equity will allow us to continue to expand without compromising the service and flexibility our customers expect from VirTex,” he said. “Our management team is looking forward to augmenting VirTex’s capabilities and broadening the services we offer our customers through the support and significant financial strength that this partnership provides.”