NEWs

We are pleased to announce that we have successfully completed a growth recapitalization with Heritage Growth Partners LLC (“Heritage Growth”), an Atlanta, GA-based private, family investment office.

The purpose of the recapitalization is to support our growing operations, enable expansion of our capabilities, and fund future acquisitions. The partnership with Heritage Growth allows Larry Morgan, an investor and partner in the business since 2005, to focus efforts on his expanding auto dealership business, Morgan Auto Group.

“We are elated to enter this next phase of our growth and thank Larry Morgan for his longstanding and continuing support of our growth objectives,” said Jamie Harden, Chief Executive Officer of Creative. “In addition to capital, Heritage Growth brings strategic relationships and acquisition expertise which will help us reach our true potential. We look forward to accelerating our growth organically as well as expanding the business through selective acquisitions that bolster our capabilities and broaden our reach.”

Heritage Growth Managing Partner, Alex Mammen, who has joined the Board of Creative, added, “We are excited to partner with Jamie and the entire Creative team to help them reach their growth objectives and better serve their expanding client base. From the onset, we have been impressed by the culture, values, and leadership of the Creative team and their impressive roster of projects which includes a number of high-profile clients in the transportation, industrial, hospitality, multi-family, healthcare and education sectors.”

“Driven by differentiated design, a highly capable and experienced project management team and an impressive in-house manufacturing platform, Creative checks all of the boxes not just for its clients but for us as investment partners,” said Evan Toporek, Partner at Heritage Growth, who also joined the Board of Creative as part of the recapitalization. “We look forward to helping Creative further establish itself as an industry leader.”

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Tampa-based Creative Sign Designs LLC has completed a growth recapitalization with Atlanta-based family investment company Heritage Growth Partners LLC. This is the next step to support the growing operations at Creative and will allow it to fund future acquisition initiatives.

Creative’s partnership with Heritage Growth allows Larry Morgan, an investor and partner in the business since 2005, to focus efforts on his expanding auto dealership business, Morgan Auto Group. Additionally, Hancock Whitney Bank provided a new senior secured debt facility in connection with the transaction.

“In addition to capital, Heritage Growth brings strategic relationships and acquisition expertise which will help Creative reach its true potential. We look forward to accelerating our growth organically as well as expanding the business through selective acquisitions that bolster our capabilities and broaden our reach,” said Creative’s CEO Jamie Harden.

Creative Sign Designs services include consultation, installation and design for exterior and interior graphics. According to Tampa Bay Business Journal research, the company’s revenue has increased every year, earning $24.01 million for the previous year.

Heritage Growth Managing Partner Alex Mammen said he’s excited to help the company reach its next growth objective. This also marks the first time the company has invested outside of the state of Georgia.

“We have been impressed by the culture, values and leadership of the Creative team and their impressive roster of projects which includes a number of high-profile clients in the transportation, industrial, hospitality, multifamily, health care and education sectors,” said Mammen, in a statement.

Creative is headquartered in Tampa and maintains a field office in Orlando. The company has approximately 150 employees, including 15 sales representatives in Florida and Tennessee.

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ATLANTA, GA – East West Manufacturing, LLC (“East West” or the “Company”), a global design, manufacturing and distribution services business, announced today that it has acquired Universal Electronics, Inc. (“UEINC”), a provider of specialized electronics manufacturing services, including advanced printed circuit board assemblies, box-build assemblies, testing and new product introduction services. UEINC was founded in 1980 in Whitewater, WI, located one hour from Milwaukee, Wisconsin. This acquisition further enhances the growth of East West by adding a well-established operation in the Midwest, close to many current customers. UEINC advances East West’s strategic focus on growing its domestic electronics manufacturing capabilities and expanding its U.S. manufacturing operations.

“We are excited to partner with UEINC to expand our manufacturing operations to the Midwest.” said Scott Ellyson, East West Co-founder and CEO. “UEINC has an incredible reputation for putting its customers first and has an established presence in a variety of high-growth sectors such as medical, industrial, telecommunications and defense. This acquisition allows us to offer our customers even greater domestic, higher mix, lower volume, quick turn electronic manufacturing services. Our collective design, manufacturing and supply chain capabilities will enable us to provide even greater levels of service and support to customers on a global basis.”

East West Board Member Bob Nardelli said, “Expanding the company’s operations to the Midwest is another crucial step in our strategy of building our portfolio by offering diverse solutions to our growing customer base around the U.S.”

Alex Mammen, Heritage Growth Partners founder and East West board member added, “The addition of UEINC, our first acquisition in the Midwestern U.S., provides East West with the ability to continue to marry its high-volume international design, manufacturing and distribution capabilities with a well-respected, domestic manufacturer to address a variety of customer growth objectives and supply chain diversification needs. We expect the East West-UEINC combination to gain significant market share through these expanded capabilities, particularly within the growing corporate and public innovation centers in and around the Midwestern U.S.”

Rick Jensen, Owner and President said, “The leadership team and associates here at UEINC are excited about becoming part of the East West family. Our culture, capabilities and customer first focus align perfectly. We expect the new combined company to help our customers continue to grow!”

About East West Manufacturing, LLC

Based in Atlanta, Georgia, East West is a global design, manufacturing and distribution services partner for original equipment manufacturers and distributors throughout North America and Europe. With domestic operations in Georgia, North Carolina and Massachusetts and international operations in Costa Rica, Vietnam, China and India, the Company utilizes a global design team, transparent supply chain, on-site quality control and flexible logistics systems to provide its customers with superior products and competitive cost advantages. Founded in 2001, East West offers its customers a differentiated breadth of onshore, nearshore and offshore design, manufacturing and distribution capabilities to serve the full spectrum of customer needs ranging from new product design to full scale production and distribution.

For more information please visit: www.ewmfg.com.

About Universal Electronics, Inc.

Founded in 1980, UEINC is an advanced electronics manufacturer of high mix, high complexity, low-to-medium volume products that specializes in box builds, PCB assembly, NPI, prototyping, supply chain management, system integration, and testing services for the medical, industrial equipment, telecommunications and defense industries. UEINC is an ITAR Compliant and ISO 9001:2015 and ISO 13485:2016 Certified company based in Whitewater, WI.

For more information visit: www.ueinc.com.

About Heritage Growth Partners LLC

Heritage Growth Partners LLC is an Atlanta-based private, family investment office focused on serving owner-managers and their companies to accelerate growth and create long-term value. Heritage takes a collaborative approach to investing, with the goal of building true partnerships with management that are enhanced by its patient and flexible family capital and its ongoing strategic, financial and operational support.

For more information visit: www.heritagegrowth.com.

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May 20, 2021: ATLANTA –­ The Atlanta National Chapter of the Association for Corporate Growth® (ACG), a global professional organization with the mission of Driving Middle Market Growth®, today announced the 2021 Georgia Fast 40, recognizing the top 40 fastest-growing middle market companies in Georgia.

“The companies being honored this year demonstrate the strength and significance of the middle market sector in Georgia,” said Melanie Brandt CEO of the Association for Corporate Growth’s South Region and ACG Atlanta President and CEO.

Applicants were required to submit three years of verifiable revenue and employment growth records, which were validated by national accounting firm and founding Diamond sponsor, Cherry Bekaert LLP. An ACG Selection Committee evaluated each application and conducted interviews with all qualified applicants. Companies on the list are for-profit and headquartered in Georgia and span across a variety of industries including logistics, healthcare, manufacturing, and financial services, among others.

“These companies represent more than 6,600 new jobs and nearly 2.4 billion dollars in revenue growth over the last three years,” said Michelle Galvani, chairperson of the Georgia Fast 40 Awards and Executive Managing Director with Wildmor Advisors. “In speaking with many of the CEO’s, the supportive business environment and accessibility of capital are contributors to growth. By far the biggest challenge is tightness of the labor market. We are proud to honor these companies and look forward to learning more insights online and at the celebration in June.”

ACG Atlanta will present the awards at the Georgia Fast 40 celebration outdoors at the Atlanta History Center in Buckhead on June 24, 2021.

Honored companies for 2021 include:

• Advanced Urology
• Albion General Contractors, Inc.
• Alora Pharmaceuticals, LLC
• Ansley Real Estate
• Azalea Health Innovations, Inc
• BELAY
• BioIQ
• Bitcoin Depot
• Catalyst Nutraceuticals
• CRH Healthcare
• DLH Corporation
• East West Manufacturing
• Envistacom
• FiberLight, LLC
• Flip Electronics
• FullStory
• Grayshift
• Green Worldwide Shipping, LLC
• High Road Craft
• IBEX IT Business Experts
• Intellum
• Kill Cliff
• LeaseQuery
• MacStadium, Inc
• MMS Motorsports, LLC
• mySupplier
• NPSG Global
• Omega Bio-tek, Inc
• Oversight
• Paralell
• PDI
• Phobio LLC
• QGenda
• REPAY
• Roadie, Inc
• Ruby-Collins, Inc
• SalesLoft
• Stord Inc.
• StruXure Outdoor, Inc
• Summit Spine & Joint Centers
• Wahoo Fitness
• Watershed Geosynthetics LLC

About ACG Atlanta

ACG’s Global Network comprises more than 100,000 middle-market professionals from corporations, private equity, finance, and professional service firms representing Fortune 500, Fortune1000, FTSE 100, and mid-market companies in 59 chapters in North America and Europe. Founded in 1974, ACG Atlanta is one of the oldest and most active chapters, providing the area’s executives and professionals a unique forum for exchanging ideas and experiences concerning organic and acquisitive growth. Programs include M&A South (formerly the Atlanta ACG Capital Connection, The Georgia Fast 40 Honoree Awards and Celebration, a Wine Tasting Reception, a Deal of the Year event as well as an active Women’s Forum and Young Professionals group.

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ATLANTA, GA – MARCH 10, 2021 —

East West Manufacturing, LLC (“East West” or the “Company”), a global design, manufacturing and distribution services business, announced today that it has acquired Varitron, Inc., a provider of integrated electronics manufacturing services, including advanced printed circuit board assemblies, box-build assemblies, testing and new product introduction services. Varitron was founded in 1991 and operates four facilities in and around Montreal, Canada. This acquisition further enhances the growth of East West by adding a well-established nearshore operation in Canada and advances the Company’s strategic focus on growing its North American electronics manufacturing capabilities.

We are excited to partner with Varitron to expand our integrated design, manufacturing and distribution services into Canada.” said Scott Ellyson, East West Co-founder and CEO. “Varitron has an extraordinary reputation for putting customers first and has an established presence for innovation in a variety of high-growth sectors such as medical, industrial, telecommunications and defense. Varitron allows us to offer our customers even greater nearshore, higher mix, lower volume, quick turn electronic manufacturing services. With the addition of Varitron’s rapid prototyping and strong R&D capabilities, and our collective design, manufacturing and supply chain capabilities, we can support customers from product inception to full-scale production on a global basis.”

East West Board Member Bob Nardelli said, “Expanding the company’s operations to Canada is another important step in our strategy of building our portfolio by offering diverse solutions to our growing customer base around the world.”

Alex Mammen, Heritage Growth Partners founder and East West board member added, “The addition of Varitron, our first acquisition in Canada, provides East West with the ability to continue to marry its high-volume international design, manufacturing and distribution capabilities with a well-respected, North American manufacturer to address a variety of customer growth objectives and supply chain diversification needs. We expect the East West-Varitron combination to gain significant market share through these expanded capabilities, particularly within the growing public and private innovation centers in Montreal and throughout Canada.”

Michel Farley, Founder and Chairman of the Board of Varitron said, “The existing leadership team and associates here at Varitron, are excited about becoming part of the East West family and will continue in their current roles in support of our customers. While it maintains its Montreal leadership team, the combined company will allow our customers access to increased resources, expertise and production, allowing us to further support their growth.” 

About East West Manufacturing, LLC
Based in Atlanta, Georgia, East West is an integrated global design, manufacturing and distribution services partner for original equipment manufacturers and distributors throughout North America and Europe. With domestic operations in Georgia, North Carolina, Wisconsin and Massachusetts and international operations in Costa Rica, Vietnam, China and India, the Company utilizes a global design team, transparent supply chain, on-site quality control and flexible logistics systems to provide its customers with superior products and competitive cost advantages. Founded in 2001, East West offers its customers a differentiated breadth of onshore, nearshore and offshore design, manufacturing and distribution capabilities to serve the full spectrum of customer needs ranging from new product design to full scale production and distribution.

About Varitron Inc.
Founded in 1991, Varitron is an advanced electronics manufacturer of high mix, high complexity, low-to-medium volume products that specializes in box builds, PCB assembly, NPI, prototyping, supply chain management, system integration, and testing services for the networking, optics, transportation, automation, telecommunications medical, industrial equipment, and defense industries. Varitron is an ISO 9001: Certified company based in Montreal, Canada, with facilities in Saint-Hubert, Granby, Mirabel and Bromont.

For more information visit: www.Varitron.com.

About Heritage Growth Partners LLC
Heritage Growth Partners LLC is an Atlanta-based private, family investment office focused on serving owner-managers and their companies to accelerate growth and create long-term value. Heritage takes a collaborative approach to investing, with the goal of building true partnerships with management that are enhanced by its patient and flexible family capital and its ongoing strategic, financial and operational support.

For more information visit: www.heritagegrowth.com.

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