Pioneer Metal Finishing (Pioneer), a portfolio company of Aterian Investment Partners (Aterian), announced the acquisition of Electrochem Solutions (Electrochem).
Founded in 1982 and based in Union City, Calif., Electrochem is a metal finishing company in Silicon Valley. Electrochem provides a range of highly technical finishing solutions including gold plating, silver plating, anodizing, electroless nickel, and other services to clients primarily in the semiconductor fabrication equipment end market.
“Pioneer is the right choice for Electrochem, our employees and customers,” David Rossiter, owner of Electrochem, said. “Pioneer is recognized as the ideal buyer for family and founder owned metal finishing businesses. I am confident Pioneer will be a great home for our employees and customers because of our shared goals and values.”
Daniel Krasnow, principal at Aterian added, “We are excited to continue to build upon Pioneer’s strategy of acquiring leading metal finishing businesses. Electrochem expands Pioneer’s presence on the West Coast and adds new technical capabilities Pioneer can build upon.”
Defense, aviation and aerospace firms all demand mission-critical performance from precious metal plating and coating for a variety of rigorous applications including systems for missile guidance, aircraft power and thrust and satellite communications. Connectivity solutions, for example, must deliver 100% reliable current and voltage under potentially harsh conditions.
“For aerospace customers, this acquisition uniquely positions Pioneer to provide highly complex solutions, flexible capabilities and an ultra-reliable supply chain to a dynamic industry that’s exhibiting strong growth. Across all markets, customers appreciate the stability offered by Pioneer’s financial strength, broad customer base and large footprint across North America – currently 11 facilities and more than one million square feet of manufacturing capacity. Pioneer in committed to continually meet their needs today, tomorrow and into the future,” said Carlos Miller, Pioneer Metal Products’ VP Aerospace and Defense, shown here. “Like Pioneer, Electrochem has a proud history of developing and executing challenging engineered surface solutions that other companies shy away from. We’re now a one-stop shop for precious metal coatings that provide superior connectivity and anti-corrosion performance. Founded nearly 40 years ago, Electrochem focuses on functionally engineered precious metal plating, electroless nickel, aluminum anodizing, complex masking and clean room-based related services for specialized, high-tech components; Electrochem is an approved vendor for many Fortune 500 companies. Francisco Ruiz, current General Manager, will continue leading this division.”
Weil Gotshal & Manges LLP advised Pioneer on the transaction.