Good evening,

Private equity-backed Circuitwise Electronics Manufacturing has signed its first bolt-on acquisition since Quadrant Private Equity’s growth arm nabbed a stake in the Sydney-based electronics part manufacturer.

Street Talk understands Circuitwise has signed a share purchase agreement with Nautech Electronics, another electronics manufacturer that has been in business since 1989, operating from its Auckland headquarters, in a deal led by Quadrant managing partner Marcus Darville.

Key to Circuitwise’s interest in Nautech is its whole focus on the New Zealand market. In recent years, governments have encouraged companies that serve mission-critical industries such as aerospace and defence, to develop stronger local footprints in a drive for sovereign capability and intellectual property protection.

Circuitwise is expected to continue on its expansion path under Quadrant’s watchful eye, hunting down other potential merger partners.

Read the full story tomorrow and more on the Street Talk page.

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Click here for the latest equity market wrap.