Caymus Equity Partners LLC (“Caymus Equity”) announced the sale of its portfolio company, FST Technical Services, Inc. (“FST”) to Arena Investors, L.P. (“Arena”). The sale, which closed on February 8, 2019, marks the second full exit for Caymus Equity Partners.
Headquartered in Gilbert, Arizona, FST is the nation’s leading provider of a full range of outsourced technical services for the semiconductor, microelectronics, and biopharmaceutical industries. FST’s full-service offering includes quality assurance / quality control and analytical testing for semiconductor and biopharmaceutical production facilities, equipment services, specialty equipment sales, and technical staffing for its customers.
“During Caymus Equity’s five-year ownership of FST, investing alongside and partnering with an exceptional management team led by CEO Troy Hall, we successfully executed on a variety of strategic initiatives enabling the Company to experience strong growth,” said Geoffrey Faux, Caymus Equity Managing Partner. “FST’s success underscored Caymus Equity’s ability to professionalize, diversify and transform a business during our investment horizon. In conjunction with management, we were able to expand FST’s product offerings to create a recurring stream of revenue and reduce the Company’s reliance on project-based work; made two meaningful acquisitions and formed a strategic partnership adding two new verticals and further entrenching the business within new industry segments; opened an office in Israel, enabling additional geographic and customer diversification; and greatly expanded the Company’s management team through the addition of a number of key management members.”
“Caymus Equity played a significant role in helping us realize our vision for the business and what we believe we can accomplish as we continue to grow” added Troy Hall, CEO. “They have been instrumental in further professionalizing the company and provided meaningful, strategic guidance for FST.”