- people on the move
Partners acquire electronics maker
A pair of former manufacturing executives are embarking on a new journey with an electronics company in the region.
Lynne Bosgraaf and Brad Davis, formerly of Grand Haven-based Light Corp., have acquired Fruitport-based Ram Electronics, a contract maker of electronic assemblies and provider of electronic design services, according to Rua Associates today.
Zeeland-based Rua Associates, a mergers and acquisitions firm, brokered the deal.
Terms of the transaction were not disclosed.
Bosgraaf and Davis worked together for more than a decade at Light Corp.
Davis, who was president of Light Corp. for more than 26 years, was instrumental in the company’s growth from 10 employees to 175 employees and from $1 million in revenue to $36 million, according to Rua Associates.
Bosgraaf served as VP of sales/marketing and in program management, R&D and engineering during her 10-year tenure at Light Corp.
Bosgraaf and Davis approached Rua Associates about getting in the market to purchase a business in an industry similar to Light Corp.
“We had to pull in partners from multiple sources to get the deal done,” said Randy Rua, president, Rua Associates. “We knew we had the right buyers for the business, and we just needed to put the right pieces in place. We don’t typically see the MEDC involved in our transactions, but at the end of the day, they were key in making the deal possible.”
Founded in 1970 as R.A. Miller Electronics Corporation, Ram Electronics has 16 employees and annual revenue between $3 million and $6 million.
Ram Electronics provides a range of services: circuit board design and layout; harnessing and software integration design; prototype fabrication; environmental stress screening; automated assembly; and complete electronic manufacturing.