Milestone Partners Forms Pancon Corporation
Radnor, PA, November 15, 2011 – Milestone Partners in pleased to announce that October 24, 2011 it completed the acquisition of two connector businesses (Pancon and Ark-Les Connectors) and a capacitor business (Paktron) from Illinois Tool Works Inc.
Milestone acquired the net assets of the businesses in the United States and the shares of related operations in Europe.
The three businesses will be combined to form a new Company known as Pancon Corporation (“Pancon” or “Company”), which will be headquartered in Stoughton, MA.
Pancon manufactures custom and standard connectors that are used in power and signal applications while its multilayer polymer capacitors primarily serve power conversion applications. Industries served include telecommunications/datacom, appliances, military, automotive, medical, and industrial.