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Founded in 1980, Amptech designs, engineers and manufactures circuit boards and other electronic assemblies for customers in automotive, utility and other industrial end markets and applications. The acquisition will allow Myotek to provide its customers with domestic production capabilities for its automotive lighting products. Amptech's Lee Wyatt will continue to serve as president of the company.
New Water Capital, L.P., views the addition of Amptech as a way to expand the capabilities of Myotek, a leading transportation LED lighting designer, manufacturer and supplier specializing in automotive forward lighting for several OEM automakers and other vehicle manufacturers. Myotek's acquisition of Amptech will strengthen the company's domestic manufacturing capabilities and allow the company to assemble lighting products across two continents.
"Amptech represents a highly strategic acquisition for the Myotek platform," said New Water Capital Partner Brian McGee. "Our partnership with Amptech will support Myotek's vision for expanding its lamp manufacturing capabilities domestically."
Plans are to expand existing Amptech manufacturing facilities in Michigan and Pennsylvania to accommodate customer demand. "We are excited that our partnership with New Water and Myotek will enable Amptech to grow, both in its historic core business segments as well as more deeply penetrate the automotive lighting end market," said Amptech President Lee Wyatt.
Myotek CEO Eric Showalter said the partnership with Amptech will differentiate Myotek from its competitors by offering its customers a shorter supply chain based in the United States. "Building out U.S. manufacturing will allow us to more efficiently support Myotek's growth and our customers over the coming years," Showalter said. "We are excited about the prospects of building our products right here in Michigan."
About New Water Capital, L.P.
New Water Capital, L.P. is a private equity firm focused on lower-middle market companies in transition, in the consumer, retail and industrial manufacturing and services sectors, with revenues of $30 million to $300 million. New Water Capital's collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths.