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Company Announcements
XTech Re-Capitalized by RFE Investment Partners
January 22, 2009
RANDOLPH, Mass., — XTech, the world's leading supplier of customized extruded aluminum faceplates and mechanical solutions for the telecommunications and networking industry, announced that it has been recapitalized with an investment by RFE Investment Partners (RFE).
"Our rapidly growing operations in both Massachusetts and Xiamen, China, encouraged us to seek a sophisticated financial partner that would support our niche strategy of providing the highest quality aluminum faceplates to a global customer base," said Reinhold Hesse, XTech's President and CEO. "RFE's great experience and proven success working with entrepreneurial businesses provides XTech with the capital and guidance needed to achieve our aggressive growth plan. XTech has developed an outstanding reputation for offering customized engineering design and development services, coupled with providing the highest quality product and rapid delivery times."
The transaction is the culmination of an effort led by The Bigelow Company to proactively seek out the "Best New Majority Shareholder" for the Randolph, Mass.-based firm.
Commenting on XTech founders, Jim Sharpe and Debby Stein Sharpe, Michael Foster, Managing Director of RFE said, "Jim and Debby have created an enterprise with a great foundation that, with Reinhold's guidance, we look forward to continuing to build upon."
About RFE
RFE Investment Partners (www.rfeip.com) is a private equity investment firm that focuses on smaller, middle-market service, manufacturing and healthcare related businesses. RFE has made investments in more than 120 companies operating in a wide variety of industries, and is currently investing from RFE Investment Partners VII, L.P., which has more than $200-million in committed capital.
About XTech
Headquartered in Randolph, Massachusetts with offices worldwide, including a new manufacturing facility in Xiamen, China, XTech (also known as Extrusion Technology) is an innovative and leading manufacturer of mechanical solutions for circuit board mounting systems. XTech enclosures and front panels are used widely throughout the telecommunications, military, GPS, and electronics industries. XTech clients include Alcatel-Lucent, Ciena, Cisco, Juniper Networks, Motorola, and others. Founded in 1945, XTech is privately held. (www.xtech-outside.com)
For further information call 781-963-7200.
Contact:
Rick Winter
Director, Sales and Marketing
781-963-7200, ext. 112
rwinter@xtech-outside.com