New Water Capital Recapitalizes DataED and Bestronics

Exeter Street Capital Partners Recapitalizes Price Circuits LLC and Circuitronics LLC

August 4, 2026

Industrial Services

Exeter Street Capital Partners (the private equity affiliate of Patriot Capital Group) announced the recapitalization of Price Circuits LLC and Circuitronics LLC, forming a new buy-and-build strategy for advanced printed circuit boards (PCBs). The transaction is completed in partnership with Capitala Group, Five Points Capital, and the Varghese family, which remains a shareholder, with Pinnacle Bank providing senior working capital financing.

Siemens Digital Industries Software Acquires DownStream Technologies

April 8, 2025

Software

Siemens Digital Industries Software (Siemens EDA) has completed the acquisition of DownStream Technologies, a Marlborough, Massachusetts-based provider of PCB manufacturing data preparation and documentation tools, including the CAM350 and BluePrint‑PCB suites. The deal (closed April 7, 2025) strengthens Siemens' PCB design-to-manufacturing workflow and expands its footprint in the electronics SMB market; terms were not disclosed.

Crestview Partners Acquires Emerald EMS from New Water Capital

January 4, 2022

Manufacturing

Crestview Partners has completed the acquisition of Emerald EMS from New Water Capital, with Emerald's CEO Vic Giglio continuing to lead the company. Headquartered in Salem, New Hampshire, Emerald is a high-mix, low-volume electronics manufacturing services provider operating six U.S. facilities and one in China; financial terms were not disclosed. Crestview intends to invest in the business and pursue additional add-ons and capability expansion to accelerate Emerald's growth.

Edgewater Capital Partners Acquires Naprotek

December 30, 2020

Manufacturing

Edgewater Capital Partners completed an investment to acquire Naprotek, a San Jose-based electronic manufacturing services (EMS) company specializing in quick-turn printed circuit board assembly for high-reliability applications. Patriot Capital provided subordinated debt and an equity co-investment alongside Edgewater and Naprotek's management team to support the transaction and future growth.

Emerald EMS (New Water Capital) Acquires Saline Lectronics and Veris Manufacturing

November 17, 2020

Manufacturing

Emerald EMS, a portfolio company of New Water Capital, has acquired Saline Lectronics, Inc. (SLI) of Saline, Michigan and Veris Manufacturing of Brea, California. The add-on acquisitions expand Emerald EMS's U.S. footprint, engineering resources and high-reliability electronics manufacturing capacity across medical, aerospace/defense and industrial end markets.

KKR and XPV Water Partners' Platform Acquires Environmental Dynamics International (EDI)

June 23, 2020

Environmental Services

KKR and XPV Water Partners' water-quality platform has acquired Environmental Dynamics International (EDI) and will integrate EDI into platform company Nexom to expand nutrient-management and aeration capabilities. EDI, a Columbia, Missouri–based manufacturer of diffused aeration systems founded in 1975, will combine with Nexom under Nexom CEO Martin Hildebrand to broaden the platform's municipal and industrial wastewater offerings.