Acquisition positions company for growth and expansion
MINNEAPOLIS – May 10, 2018 – Electronics Manufacturing Services (EMS) and Design & Engineering company Logic PD announced that the company has recently been acquired by Compass Group Equity Partners, a private equity firm based in St. Louis, Mo. Compass Group acquired 100 percent of the shares of Logic PD, which had previously been held by Denver, Colorado-based CHB Capital Partners.
The acquisition will have no impact on the company’s operations and more than 300 employees. Logic PD President and Chief Executive Officer Bruce DeWitt, will continue in his current leadership role under Compass Group ownership, as will the other members of Logic PD’s management team.
“We’re excited to be joining Compass Group, which will expand our capabilities and manufacturing footprint to include Dayton, Ohio, an aerospace manufacturing hub, and Atlanta, one of the fastest growing high-tech regions in the nation,” said DeWitt. “Logic PD and our unique EMS and design and engineering expertise fits in well within Compass Group’s portfolio of discrete and process manufacturing companies.”
Established in 1960, Logic PD has evolved into a leading provider of electronics manufacturing services, offering integrated capabilities in research, design, engineering, quality, regulatory, manufacturing, and aftermarket services. Logic PD is headquartered in Eden Prairie, Minn., and operates manufacturing facilities in Ciudad Juárez, Mexico.
“Logic PD brings not only size and scale to our electronics platform, but greatly enhances our ability to serve our customers,” said John Huhn, managing partner of Compass Group. “The addition of Logic PD will enable us to provide design and engineering expertise which will reduce the cost and shorten the time-to-market for new product launches, and adds near-shore manufacturing capabilities to the platform.”
In conjunction with the ownership change, Logic PD expects to continue upgrading their facilities and equipment over the next year. This includes new surface mount technology (SMT) equipment, which the company plans to install during Q3 2018. New investments in Logic PD’s embedded products portfolio will also be accelerated in 2018.
About Logic PD
Logic PD is a world-class electronics manufacturer and design and engineering service company working with and exceeding the expectations of the largest commercial, industrial, medical device, aerospace and defense companies in the world. We collaborate with clients to guide them through all aspects of their Design & Engineering and Electronics Manufacturing Services needs to accelerate their growth and capture value. Logic PD helps its clients identify opportunities, reduce risk, and control costs to deliver the next generation of innovative products into the world’s most demanding markets.
About Compass Group Equity Partners
Founded in 2001, Compass Group is a St. Louis-based private equity firm with a record of success in acquiring and building lower middle-market companies. Compass Group’s investors are comprised of family offices and the principals of Compass Group. By leveraging the expertise of these individuals, in addition to capital, Compass Group provides hands-on support and resources to aid management teams in exceeding historical performance and accelerating growth.