Snow Phipps acquires rapid prototyping company Prototek
Private equity firm Snow Phipps Group has closed its acquisition of Prototek, a US-based rapid prototyping services provider of CNC machined and sheet metal fabricated parts and components, for an undisclosed price.
Prototek caters to a range of end markets such as aerospace, defense, electronics, consumer, medical, telecommunications, robotics, and general industrial.
Based outside Boston, Prototek is said to have various in-house manufacturing capabilities across four dedicated plants located across the US.
Bill Gress – CEO of Prototek said: “With our growing customer base and deeply experienced team, we are well positioned for further expansion.
“Our vision for the future aligns perfectly with Snow Phipps, as we continue to invest in our capabilities to provide the signature products and rapid solutions our customers expect.”
Jay Twombly, who is Snow Phipps Operating Partner will join as the non-executive Chairman of the Board of Directors of Prototek.
Jay Twombly said: “We look forward to working with them and providing the resources needed to execute their expansion strategy.”
The legal counsel for Snow Phipps Group for the deal was Simpson Thacher & Bartlett.