Spartronics purchases Primus Technologies
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One of the largest employers in the county has come under new ownership in a deal announced this week.
Primus Technologies Corp., Williamsport has been purchased by Spartronics LLC, a manufacturer of electronic and electromechanical devices.
Completion of the acquisition was Dec. 31, according to Spartronics officials.
"Primus Technologies has established itself as a leader in the electronics manufacturing services space, particularly among key aerospace and defense customers," Paul Fraipont, president and CEO of Spartronics, said. "Our investment in Primus demonstrates our ability to acquire great businesses with complementary strengths.''
"We look forward to working together with the proven team at Primus to grow Spartronics with an expanded footprint and broader capabilities. The Primus campus in Williamsport is well-suited to accommodate our growing company. We plan to relocate our headquarters from Watertown, South Dakota, to Williamsport in the near future."
Williamsport/Lycoming Chamber of Commerce President Jason Fink said the transaction looks to be good news for the local area.
"Spartronics is moving its headquarters to Williamsport," he said. "That is a big commitment."
Primus, with two facilities in the U.S., provides engineering, manufacturing and testing services of circuit card assemblies and box builds for original equipment manufacturers (OEMs) in the aerospace, defense, medical and complex industrial markets.
With an employee base of about 400 people in Williamsport, Primus has offered good-family sustaining wages, Fink noted.
Spartronics, acquired by One Equity Partners (OEP) in July 2020, provides contract design, manufacturing and aftermarket services of printed circuit card assemblies, sub-assemblies and full product assemblies which support mission-critical applications across the defense, aerospace, medical and industrial markets.
The company operates eight facilities in the United States and one in Vietnam.
Greg Kelble, senior vice president and chief administrative officer, Spartronics, said Williamsport is a good fit for the company with a good existing facility and a good workforce.
He did not rule out more people being hired.
"I would expect growth," he said. "How much growth I don't know. Most of the growth will come simply from more volume of work."
Chip Schorr, senior managing director, One Equity Partners, said, "We believe that the manufacturing expertise of Primus with its strong customer relationships provides the ideal addition to help Spartronics build a leading?global electronics manufacturing services provider."
Financial terms of the transaction have not been disclosed.
"I hope that the new owners will feel free to reach out to the county commissioners," Lycoming County Commissioner Rick Mirabito said. "We welcome the new owners to the community."