New Water Capital Affiliate Acquires Chainlogix to Merge with Nelson Miller
BOCA RATON, Fla., Jan. 18, 2022 /PRNewswire/ -- New Water Capital announced today that it has acquired Chainlogix (CLX) (https://chainlogix.com/), a Troy, Virginia-based provider of engineered components, assemblies and supply chain management solutions to customers across the industrial, lighting and electronics landscape. CLX will merge with current New Water portfolio company Nelson Miller Inc. (http://www.nelson-miller.com/), a full-service provider of custom engineered components and assemblies for critical applications across Medical, Aerospace & Defense and Industrial end markets.
New Water Capital Fund II platform adds global sales and sourcing expertise
"Like Nelson Miller, Chainlogix creates value for its customers through its management of difficult-to-manage aspects of the product lifecycle, such as niche component design, engineering, assembly and end-to-end supply chin management," said Nelson Miller President Jim Kaldem. "Chainlogix provides services and expertise that complement and support Nelson Miller's strengths, including advanced off-shore sourcing and technical sales capabilities."
With the CLX acquisition, New Water Capital's Fund II platform adds global sales and sourcing expertise to Nelson Miller. "We are excited to build upon our first platform in Fund II through the Chainlogix acquisition," said Matt Carlos, Principal at New Water Capital. "Through the combination of Nelson Miller and Chainlogix, the growing enterprise will have access to expanded engineering and supply chain management resources, while leveraging captive electromechanical assembly and functional printing capabilities," Carlos said. "Based on our successful track record of building and growing industrial technology providers, we believe the combination positions the platform perfectly for continued expansion and growth."
Established in 1998 as Visiontech Solutions Group (VSG), Chainlogix focuses on providing engineered components and assemblies, as well as full-service supply chain management, for customers across the industrial, lighting and electronics landscape. The company also has an office in Zhuhai, China. "We feel as though we found the perfect partners in New Water and Nelson Miller to help accelerate our growth trajectory," said CLX founder-owner Rick Perrault. "New Water's success in building technology-driven solutions providers and the out-of-the-box synergies with Nelson Miller make for a perfect fit for our team's aspirations and goals." Mr. Perrault will remain with the company in a senior leadership role and serve on the board.
New Water Capital acquired Nelson Miller in October 2021 as its initial investment to build a platform uniquely focused to develop, produce, and support the engineering, design, manufacturing and supply chain management of niche, complex components and fully assembled products in high-reliability end markets.
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SOURCE New Water Capital, L.P.