Graycliff Partners has completed the sale of Impakt Holdings to Celestica, a leader in design, manufacturing and supply chain solutions for the world’s most innovative companies, for a total purchase price of approximately USD329 million.
With operations in California and South Korea, Impakt provides design, engineering and agile manufacturing solutions for the display, solar and other capital equipment industries, as well as specialised services that require large format, high-mix complex manufacturing and integration solutions.
Since acquiring Impakt in 2016, Graycliff has teamed with management to identify and execute numerous transformational initiatives to position the company for growth, including building out a robust and experienced management team, rebranding the company and implementing a new global ERP system. Additionally, Impakt completed a tuck-in acquisition and expanded its footprint in South Korea, a strategically vital geography due to its proximity to major display and semiconductor manufacturers.
Duke Punhong, Graycliff Partners Managing Director, says: “We are pleased to have partnered with Dan Rubin and the rest of the management team at Impakt to grow and improve the business. We believe Impakt will be a great fit with Celestica and wish the team a successful future.”
“Graycliff has been an outstanding partner over the past three years. Their extensive resources and strategic guidance have been integral to the success of the business,” says Dan Rubin, CEO of Impakt. “We look forward to bringing our unique expertise and capabilities to the Celestica team.”
