Westbury Group Advises Power Design Services on Its Sale To Evolve Capital

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Dallas-based private equity firm acquired leading Silicon Valley prototype PCB assembly company in December.

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Westbury ran a comprehensive auction process. We’re impressed with their grasp of the business and pleased with the results.

Westbury Group LLC, an investment bank with operations in Connecticut, Chicago, San Francisco, Denver and Washington DC, is pleased to announce the sale of its client, Power Design Services Inc. (PDS), to Evolve Capital. The terms of the transaction were not released.

The principals of PDS, Keith Schenk and Tuan Tran, retained a significant equity stake and will continue to manage the business going forward. Mr. Schenk noted, “Westbury ran a comprehensive auction process. We’re impressed with their grasp of the business and pleased with the results.”

Westbury specializes in the transaction needs of entrepreneurs in deals ranging in value from $10 million to $200+ million. A FINRA-registered broker/dealer, the firm assists its clients in executing mergers, acquisitions, debt and equity raises, and provides counsel on financial and growth strategies. Westbury clients participate in a broad range of industries including technology/media/telecom (TMT), manufacturing, aerospace/defense, healthcare, and energy products and services. Headquartered in Westport, Connecticut, Westbury’s bankers serve clients across the country. Members of the Westbury team that represented PDS were Managing Directors Ryan Kuhn and Jon Rubin.

PDS, based in San Jose, CA, is a leading manufacturer of prototype printed circuit boards used nationwide by electronic product manufacturers to develop and test new products. The firm’s clients range from OEMs to manufacturers of medical devices, consumer products, and electronic subcomponents. PDS was founded in 2002 by Keith Schenk and Tuan Tran.

Evolve Capital, based in Dallas, TX, is a private equity firm focusing on control investments in service businesses with low asset intensity, strong growth prospects and sustainable EBITDA margins. Evolve was founded in 2005 by Mike Crothers. Representing Evolve in the transaction were Evolve principals Jeff Baker and Ryan Shultz.

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Ryan Kuhn
Westbury Group LLC
+1 (203) 883-9000 Ext: 111
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Jon Rubin
Westbury Group LLC
+1 (203) 883-9000 105
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