Bahrain-based Unicorn Investment Bank has acquired an 80 per cent stake in Victron, a specialty provider of complex electronics manufacturing services based in Fremont, California.
Bahrain-based Unicorn Investment Bank has acquired an 80 per cent stake in Victron, a specialty provider of complex electronics manufacturing services based in Fremont, California.
The investment marks Unicorn’s second high-profile private equity transaction in the US over the past month. In December, Unicorn announced the acquisition of a 75 per cent equity stake in Open-Silicon, a leading US microchip designer and manufacturer.
Established in 1983, Victron provides electronic manufacturing and supply chain management services to original equipment manufacturers in the communications, networking, medical, automotive, consumer and wireless industries.
Victron’s proprietary software allows client companies to integrate their operations with those of parts suppliers and customers, resulting in minimal inventory, low operating costs and the ability to offer customers a one-day manufacturing cycle.
‘Victron combines strong execution capabilities with highly flexible operations, resulting in a unique and highly competitive business model,’ says Aamir Khan, managing director for global private equity at Unicorn.
‘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.’
Victron president Chris Lee adds: ‘Our partnership with Unicorn will allow us to leverage further our core competencies to serve the growing number of companies with high-mix electronics needs.’
