Founded in 1994, Price Circuits has cultivated a reputation as an "engineer’s playground," specializing in complex printed circuit board fabrication for high-stakes industries. With existing AS9100 and ITAR certifications, the company serves a diverse client base, including Tier 1 defense contractors. CEO Sibi Varghese will remain a shareholder, continuing the family legacy while utilizing new growth capital to expand the firm’s technical reach.
Exeter Street Capital Leads Recapitalization of Price Circuits
Exeter Street Capital Partners has acquired a stake in Elgin-based Price Circuits LLC and Circuitronics LLC, launching a buy-and-build strategy in the advanced electronics manufacturing sector. The deal, supported by Capitala Group and Five Points Capital, aims to scale the firm’s rapid-turnaround production for aerospace and defense clients.
To drive this expansion, Exeter has appointed two industry veterans to provide strategic oversight. Jim Russell, formerly of R&D Altanova, will serve as Chairman, while Dana Pittman, ex-CEO of PPI TimeZero, joins as an Executive Partner. According to Russell, the move capitalizes on a generational shift in the electronics market, spurred by domestic defense spending and the increasing demand for high-quality prototyping in the AI and IoT sectors. Franklin Staley, Managing Director at Exeter, identified the company’s defensible niche and blue-chip customer roster as the primary drivers behind the investment. The transaction, which includes debt and equity backing from institutional partners, positions the firm to transition from a specialized fabricator into a broader, scaled market leader.
Comments (0)
No comments yet. Be the first!