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New Water Capital sells Emerald EMS to Crestview

New Water Capital, a lower-middle market private equity firm, has sold Emerald EMS (Emerald), a provider of high-mix, low-volume engineering, design, prototyping, testing, assembly and lifecycle support services for blue-chip original equipment manufacturers, to private equity firm Crestview Partners (Crestview).

Emerald EMS increased earnings five-fold during the two years of New Water’s ownership.

New Water’s initial investment in the Electronic Manufacturing Services (EMS) sector occurred in September 2019, through its initial simultaneous acquisition of Salem, New Hampshire-based DataED and Silicon Valley-based Bestronics, Inc. New Water and management re-branded the two companies in June 2020 to create Emerald EMS.

Financial terms of the transaction have not been disclosed.

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