Lemarne Corporation has sold Lemtronics to Altaris Capital Partners’ Paramit Corporation

Lincoln International, a leading global mid-market investment bank, has announced that Lemarne Corporation Limited (“Lemarne”) has sold Lemtronics Sdn. Bhd. (“Lemtronics” or the “Company”) to Paramit Corporation (“Paramit”) a portfolio company of Altaris Capital Partners, LLC (“Altaris”). Lincoln advised Lemarne, the terms of the transaction were not disclosed.

Lemtronics is a unique provider of high mix, low volume manufacturing services located in Penang, Malaysia. While most Asian manufacturing service companies focus on low mix, high volume manufacturing services, Lemtronics has developed a platform able to provide manufacturing solutions for high mix, lower volume products which are more complex including medical devices and critical instruments. The acquisition by Paramit creates an industry leading global platform for medical device and instrument manufacturing services. This platform will be a vehicle for Paramit to service current and future customers within the Asian and European markets.

“Lincoln’s industry knowledge and global reach were key in understanding Lemtronics, based in Malaysia, and how it could fit a U.S. based medical device and instrument manufacturing services company.” said Peter Murphy, Managing Director and Group Chief Executive of Lemarne, based in Australia.

Jack Calderon, a Managing Director at Lincoln International and the head of its Global Electronics Group, added, “This transaction highlights Lincoln’s ability to connect parties on a global basis and across industry platforms.”

About Lemtronics Sdn. Bhd.

Lemtronics was a wholly owned subsidiary of Lemarne Corporation Limited; a publicly traded company on the Australian Stock Exchange. The company specializes in the assembly of medium to complex electronic modules with emphasis on RF, optical, laser, electronics & electro-mechanical applications. Lemtronics employs over 600 people at its manufacturing and assembly facility in the Bayan Lepas Free Industrial Zone in Penang, Malaysia (www.lemtronics.net).

About Paramit Corporation

Paramit Corporation provides fully integrated engineering, manufacturing, and aftermarket services to medical device and instrumentation companies. The company employs more than 300 people, including nearly 50 in-house, degreed engineers. Headquartered in Morgan Hill, California, Paramit’s facility is ISO 9001:2008, ISO 13485:2003 and FDA certified, and is AS9100 and International Traffic in Arms Regulation (“ITAR”) registered (www.paramit.com).

About Altaris

Altaris Capital Partners, LLC is an investment firm focused exclusively on the healthcare industry. Based in New York, Altaris invests in businesses that meet clearly defined healthcare needs, and works in partnership with management to maximize growth and value creation. For more information, please visit: www.altariscap.com.

Share: