DPO&Co Partners with Charles Anderson to Acquire Circuits West
Daniel P. O’Reilly & Company invests in homegrown printed circuit board manufacturer
Chicago, IL – Daniel P. O’Reilly & Company (“DPO&Co”), a Chicago-based Strategy and Operations consulting firm, announced today that it has partnered with Charles Anderson to acquire Circuits West, Inc. (“Circuits West” or “the company”). Circuits West is a designer and manufacturer of printed circuit boards (PCBs) with more than 30 years of experience headquartered in Longmont, Colorado. The company, led by Mr. Anderson’s father Chuck since 1997, specializes in the support and design of complex, dense and high-speed circuit board applications. Circuits West’s PCBs are sold across the United States to over 300 clients in the aerospace, defense, healthcare, manufacturing and consumer industries.
DPO&Co will be partnering with Charles Anderson, an experienced chemical engineer and manager who grew up in the business and has now taken over for his father as CEO. Mr. Anderson has many years of experience in engineering management, most recently having served as Engineering Director for Cognascents, an engineering and management consulting firm specialized in helping organizations to achieve competitive sustainability. Before joining Cognascents, Mr. Anderson spent six years as a Manager, Supervisor, and Engineer at the Dutch paint and coating multinational AkzoNobel (Euronext: AKZA). He returned to Circuits West and the PCB industry last year and has been co-leading operations throughout 2020.
“I am excited to take over the company I’ve seen my father build over the last twenty-five years and lead it into the future,” commented Circuits West CEO Charles Anderson. “This investment will help Circuits West grow, add capabilities and modernize as a PCB manufacturer while continuing to provide our clients with a world-class product and unparalleled customer service.”
Daniel O’Reilly, President of DPO&Co added, “We became intrigued by the bare board fab industry after learning that many of our Private Equity clients were investing in the space. When we dug into the industry and visited over a dozen board houses, it became clear there was a spectrum of quality, and that Circuits West was clearly near the top. Chuck did a great job of growing the company and continuing to invest in technology. With Charles’ energy and experience inside and outside the industry, we think we can do something really special here – we will differentiate based on speed, quality and customer centricity that we think will be unrivaled in the relatively ‘sleepy’ PCB space.”
Cook Rector Law served as legal counsel and GP Ventures provided Transaction Services.
DPO&Co is a Chicago-based strategy consulting firm that specializes in rapidly delivering value to PE clients. After completing 55 consulting engagements over its four-year history, this is the first Principal Investment the firm has made. DPO&Co targets both control and shared control equity investments in manufacturing, distribution or field services businesses with under $2M in EBITDA, particularly companies that can benefit from leveraging the firm’s strategy consulting and Business Process Outsourcing practices. For more information, please visit dpoandco.com.