Industrial Growth Partners Acquires APCT

Industrial Growth Partners, in partnership with management, has acquired APCT and its affiliated entities and subsidiaries (collectively referred to as “APCT” or the “Company”).


Headquartered in Santa Clara, CA, APCT is a designer and manufacturer of low volume, high mix advanced technology printed circuit boards, including multi-layer rigid, high density interconnect (HDI), rigid-flex and flexible circuits. The Company specializes in quick turn, prototype and low-volume production manufacturing for critical applications within the aerospace & defense, medical, data center, and other industrial end markets. The products manufactured by APCT are commonly sole-sourced and serve applications that require North America-based manufacturing due to low volume, high mix nature of orders, short lead time requirements and sensitive security or intellectual property considerations.  APCT is a customer-centric business, differentiated through its technical expertise and consultative engineering approach, manufacturing capabilities, reputation for quality and broad product offering of complex, advanced technologies.


“IGP’s familiarity and experience within our core markets and products through current and prior investments make them the ideal partner for APCT,” commented Steve Robinson, CEO of APCT. “The entire APCT team is excited to partner with IGP and leverage their resources for strategic and operational support as we continue to grow and strengthen our business. IGP’s expertise and proven track record make them the right partner as we continue with our next phase of growth.”


Acquisition Details

On October 5, 2021, Industrial Growth Partners V, L.P., in partnership with management and certain outside investors, acquired APCT, marking the twelfth platform investment for IGP’s fifth fund.  The transaction creates a platform for APCT to accelerate its growth by aggressively pursuing its strategic initiatives.  The acquisition is an ideal fit with IGP’s strategy of investing in niche industrial companies with leading market positions, significant growth opportunities and outstanding management teams.  To learn more about APCT, please visit