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Graycliff Partners recapitalises CHawk Technology

Graycliff Partners has completed an equity investment and recapitalisation of CHawk Technology International (CHawk), a manufacturer of precision plastic and metal components and assemblies for the semiconductor capital equipment, aerospace, and medical device industries.

Based in Hayward, CA and founded in 2005, CHawk provides plastic and metal machining, fabrication, clean room assembly, and engineering services. The company’s core market is semiconductor capital equipment, with a growing presence in aerospace, medical, and general industrial end markets. The company has facilities in California, Arizona, Singapore, Malaysia, and China. Graycliff’s investment in CHawk follows its July 2021 acquisition of Gold Tech Industries, a provider of metal finishing and plating services for similar end markets. The businesses will be combined as a platform for continued growth within semiconductor and complementary markets.

“The CHawk team is excited to be partnering with Graycliff,” says Chase Zunino, CHawk’s CEO. “Graycliff’s experience and track record for driving growth, particularly within the semicap space, makes them an ideal partner for CHawk. We look forward to leveraging Graycliff’s resources to execute on our shared strategic goals.”

“CHawk’s capabilities are truly impressive. The company’s dedication to quality and service, combined with its global footprint, has established CHawk as a trusted, scalable partner for its customers,” says Dan Rubin, Graycliff Operating Advisor and co-investor. “We look forward to working with Chase and his team through this next stage of growth.”

“The CHawk team has done an impressive job growing the company and we are excited to partner alongside Chase and his team,” says Duke Punhong, Graycliff Managing Partner. “We look forward to leveraging our past experience in the semicap space in building this new platform for continued expansion.”

CHawk is the fifth investment in Graycliff’s fourth private equity fund, Graycliff Private Equity Partners IV LP. The current fund is a continuation of the firm’s strategy of making equity investments in lower middle market companies, with a focus on acquiring and/or partnering with founder and family-owned businesses in the manufacturing, business services, and value-added distribution sectors.

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