Tonka Bay Equity Partners announced their acquisition of CORWIL Technology Corporation. In the deal, Tonka Bay was joined by co-founders of CORWIL, Finn Wilhelmsen and Rob Corrao together with Matt Bergeron as CEO/Investor. Matt Bergeron was appointed President and member of the Board of Directors of CORWIL.
Tonka Bay's acquisition of CORWIL is the fifth company investment done under its Fund that ended in November of 2011 with an available budget of $150 million.
"I'm excited for the next phase of CORWIL's profitable growth. Tonka Bay is the right partner to help develop and execute our strategy to take CORWIL forward as we continue strengthening our quality, service offering and engineering capabilities," stated by Rob Corrao, co-founder and member of the CORWIL Board.
On the other hand, Molly Simmons, Principal of Tonka Bay and a Board Member of CORWIL added "We are thrilled with the opportunity to invest in CORWIL and to partner with Matt Bergeron and the company's management team. CORWIL has a strong defensible niche in the on-shore assembly and test marketplace, with unique capabilities and deep customer relationships."
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