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Bentek receives major equity funding for next phase of growth
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San Jose, CA
--- December 05, 2006--- Bentek, an innovate manufacturing and engineering company, today announced it has completed a major round of private equity funding from
Fundamental Capital, Pacific Community Ventures and JP Morgan. While all of these firms have previously invested in Bentek, Pacific Community Ventures (“PCV”)
will be playing a larger role, including the addition of John Thornton, PCV Managing Director, to the Board of Directors at Bentek.
”Bentek’s experienced management team combined with its well trained, loyal workforce have positioned the Company as one of the leading contract electro-mechanical
manufacturers,” said PCV Managing Director John Thornton. “The Company’s high quality manufacturing services combined with innovative design and engineering support should
continue to drive the Company’s future growth, and we look forward to working closely with the Company to insure its ongoing success.”
The new investment will fund the expansion of Bentek’s operations by providing more working capital as the company continues to grow. In addition to Bentek’s manufacturing capabilities,
Bentek’s engineering group has undertaken a major design effort to improve the performance and reliability, while lowering costs, of the power systems for a major semiconductor equipment manufacturer.
Matt Pitchon, CEO and President said “This expansion round will position Bentek to serve our customers with higher levels of quality, innovative product solutions and on-time delivery.
It is gratifying to see our investor’s understanding of our business translate into the willingness to provide growth capital, a critical element of our continued success.”
About Bentek
Founded in 1985, Bentek provides high-complexity, low-volume subsystems and assemblies to capital equipment manufacturers. The company's customer base includes semiconductor equipment manufacturers,
flat panel market equipment manufacturers, and RFID equipment manufacturers’. Bentek also works with OEMs in the government and aerospace industries.
About Fundamental Capital
Fundamental Capital, based in San Francisco, invests in businesses generating revenue between $5 million and $50 million. The firm is comprised of 21 Founding Investors and 12 Operating Partners
who work actively with portfolio companies to achieve their strategic objectives. Fundamental Capital partners with management teams to provide hands-on strategic and operating guidance thereby helping
companies achieve their full potential.
About Pacific Community Ventures
Pacific Community Ventures is a private equity fund focused on investing in small, high growth California businesses, with a focus on those areas within California that have historically had limited access
to institutional equity capital, particularly those companies who hire a large percentage of their workforce from low-income communities. Headquartered in San Francisco and with regional offices in Fresno,
Los Angeles and San Diego, PCV invests $1 to 5 million per transaction throughout California in support of growth, buyouts and recapitalizations.
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Bentek
Provides Full System Build to Neutronix/Quintel  |
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San Jose, CA
--- October 18, 2006--- The merger of the Morgan
Hill, Calif.-based photolithography systems specialist
Neutronix, Inc. (www.neutronixinc.com)
with Quintel (http://www.quintelcorp.com),
a leading provider of new microlithography tools for the
opto-electronic, microsystem and nanotechnology markets,
necessitated outsourcing the production of the companies’
advanced lithography tools. As a full system-build specialist
with extensive experience in precision optics, Bentek
is well equipped to become the virtual factory and systems
integrator for the newly merged companies. Bentek began
building systems for Neutronix/Quintel in August, 2006.
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Bentek
Manufacturing, Inc., Acquired by Fundamental Capital
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SAN JOSE, CA –
May 4, 2005 -- Bentek Manufacturing, Inc., a
San Jose, California-based provider of subsystems and
assemblies, today announced its acquisition by Fundamental
Capital, LLC, a San Francisco-based private equity firm.
Founded by Binh Nguyen in 1985, Bentek
provides high-complexity, low-volume subsystems and assemblies
to capital equipment and emerging high-tech industrial
customers. With over $40 million of revenue, Bentek’s
services include engineering, design, supply chain management,
and contract manufacturing.
“Our goal was to find an investment partner that
would provide not only capital, but strategic guidance
to help our company navigate the significant opportunities
that lie ahead,” said Matt Pitchon,
who was promoted from Chief Operating Officer of Bentek
Manufacturing to Chief Executive Officer of Bentek Corporation.
“The depth of Fundamental Capital’s investor
base and strong leadership at the board level will enable
Bentek to broaden our service offering to existing and
new customers.”
“The Bentek acquisition fits squarely into Fundamental
Capital’s investment objectives”, said Kevin
Keenley, Managing Principal of Fundamental Capital.
“The commitment of Bentek’s employees and
the company’s ability to successfully serve its
customers is evidenced by Bentek’s double-digit
revenue growth. The company has reached an inflection
point where it will benefit substantially from access
to capital and the hands-on involvement by our investment
group.” Bob Puette will
join Bentek as its new chairman. Mr. Puette has held numerous
executive positions throughout his career, including executive
positions with Hewlett Packard and president of the Apple
USA division of Apple Computers. He also served as Chairman
and CEO of Netframe Systems and the CEO of Centigram Communications.
Mr. Puette has served on several public and private company
boards, including Cisco Systems and Quality Semiconductor.
“Bentek’s success has been driven by
the company’s ability to meet the complex needs
of its customer base,” remarked Puette. “Bentek’s
long-term, single source relationships with its customers
are a tremendous asset upon which to build. We will leverage
Bentek’s strengths to continue to provide additional
outsourcing opportunities to capital equipment manufacturers.”
Pacific Community Ventures and The Bay Area Equity Fund,
a fund managed by JP Morgan, are equity co-investors in
the transaction. Both firms have a double bottom line
investment strategy, which emphasizes a social return
to the community in addition to financial returns. This
social return is measured by a company’s performance
in terms of job growth, training, incentives, and career
advancement opportunities for employees located in low
to moderate income geographic areas.
The acquisition of Bentek marks the second investment
for Fundamental Capital in the past four months. Fundamental
Capital recently invested growth capital into Allen Technologies,
Inc., a leading provider of on-demand hospital patient
entertainment, communication and education services.
About Bentek Corporation
Founded in 1985, Bentek is the leading provider of high-complexity,
low-volume subsystems and assemblies to capital equipment
and emerging high-tech industrial companies in the semi-conductor,
flat panel, government, aerospace, and RFID sectors. More
information can be found at
www.bentek.com. About Fundamental
Capital
Fundamental Capital is a private equity firm that invests
$2 million to $10 million into businesses generating revenues
between $5 million and $50 million. The firm is comprised
of 20 Founding Investors and 12 Operating Partners who
work actively with portfolio companies to achieve their
strategic objectives. More information can be found at
www.fundamentalcapital.com.
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Bentek
Signs Exclusive Manufacturing Agreement with Applied MicroStructures,
Inc.  |
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February, 2004 ---
San Jose, CA --- Bentek will provide complete
system integration services, materials sourcing, testing
and documentation, in addition to specific engineering
designs, to Applied MicroStructures, a leading technology
start-up, designs and markets advanced technology systems
for the Micro-Electro-Mechanical Systems (MEMS), BioMEMS
and nano-technology industries. The alliance provides
Applied MicroStructures with expert engineering and manufacturing
capabilities for its line of advanced systems.
“This partnership exemplifies the synergy between
technology and engineering / manufacturing companies.
Applied MicroStructures will have world-class engineering
and manufacturing capabilities that will satisfy customer
demands while Bentek is forging a complete system integration
– a growing demand in the CM market,” said
Binh Nguyen, founder and chairman of Bentek,
“Technology at a competitive cost is the key to
success in high-tech. To have a highly flexible, high
quality, low cost engineering & manufacturing partner
in such a close proximity to us will assist in our success
and ultimately benefit our customers.” Said Jeff
Chinn, AMST CEO.
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Bentek
awarded Ultratech Stepper Supplier Excellence Award and
Novellus Outstanding Service Award  |
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May, 2002 --- San
Jose, CA --- In addition to being recognized
as a service leader by our customers, this year Bentek
won an award from one of our suppliers. We received a
plaque from Schneider Electric: "Bentek has been
recognized as a Square D Authorized Panel Builder. This
certifies that they have met all service and technology
requirements and have committed to providing superior
electrical equipment to their customers." Only ten
EMS firms world wide have been chosen to participate in
this program, and Bentek is privileged to be the Silicon
Valley representative. |
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HEADQUARTERS: 2350 Harris Way, San Jose, CA 95131 Main: (408) 954-9600 Fax: (408) 954-9688 sales@bentek.com |
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