|By Business Wire||
|October 18, 2012 06:59 PM EDT||
Balmoral Funds is pleased to announce that it has acquired the assets of Simclar, Inc. in Hialeah, Florida; Ozark, Missouri; and Matamoros, Mexico. Going forward, the new company will be known as Concurrent Manufacturing Solutions LLC. Balmoral plans to invest in capital equipment, facility improvements, process improvements and working capital, among other areas, in order to improve and grow Concurrent’s business.
Mr. Benjamin Teno will serve as Concurrent’s CEO. Mr. Edwin Negrón-Carballo will serve as CFO and Mr. Nathan Whipple will serve as Vice President of Sales and Marketing. All are experienced executives with strong backgrounds in multi-site manufacturing and turnarounds. Concurrent will locate its business headquarters in Hialeah, FL and operate facilities at the present locations of the acquired assets in Florida, Missouri, Texas and Matamoros, Mexico.
About Concurrent Manufacturing Solutions. Concurrent Manufacturing Solutions LLC offers manufacturing solutions as a valued partner to OEM Manufacturers of electronics assemblies. The firm provides a range of contract manufacturing services including cable harnesses, printed circuit boards, backplanes, metal enclosures and complete box build services, all at competitive prices with world class quality, delivery and service. www.concurrentmfg.com
About Balmoral Funds. Balmoral has over $100 million of assets under management focused on investing in corporate carve-outs, restructurings and other special situations. Balmoral’s investment strategy focuses on partnering with talented management teams to invest in and revitalize companies with strong market positions that are going through a period of transition or experiencing operating or financial challenges. Balmoral targets investments between $5 million and $25 million in companies that have historically generated $30 million to $300 million of revenues at their peak. Balmoral is headquartered in Los Angeles, CA and has a strong track record of investing in challenged companies and returning them to financial stability and profitable growth. www.balmoralfunds.com