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Churchill supports Cornell Capital’s buyout of Advancing Eyecare

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Cornell Capital to acquire carrier tape provider Advantek

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Advantek Well-Positioned to Capture Increasing Demand from Global Digitization and Component Miniaturization
NEW YORK and EDEN PRAIRIE, Minn., June 23, 2022 /PRNewswire/ -- Cornell Capital LLC ("Cornell Capital" or "Cornell"), a private equity firm based in New York and Hong Kong, today announced that it has entered into an agreement to acquire Advantek, LLC ("Advantek"), a leading provider of highly engineered carrier tape and associated protective packaging products, from Tinicum, L.P. and affiliated funds managed by Tinicum Incorporated ("Tinicum"), which will retain a minority stake. Terms of the transaction were not disclosed. Headquartered in Eden Prairie, Minnesota, with global operations in Taipei (Taiwan), Manila (Philippines), Shanghai (China), Eau Claire (Wisconsin) and Laxa (Sweden), Advantek manufactures precision component packaging and delivery systems designed to transport and protect high-value semiconductor and electronic components during shipping and storage. Its solutions play an important role in the assembly process of such products as computers, mobile phones, LED lighting, medical components, smart appliances and automobiles. With manufacturing facilities across three continents and led by an experienced management team, Advantek is renowned for its advanced technical excellence, consistent product quality and high-quality service, which have enabled long-tenured relationships with a global, blue-chip customer base. Advantek's global footprint and operations in Asia align strongly with Cornell Capital's deep expertise in Asia and history of driving both organic and inorganic growth to build companies into leading global platforms of choice. Cornell Capital will leverage its team's decades of global investment and significant on-the-ground operating experience to work closely with the Advantek management team, led by Chief Executive Officer and President Wim Goossens, to accelerate growth initiatives, including continued innovation, geographic and capacity expansion and M&A. Cornell's investment in Advantek is being led by Allen Chu, Partner and Head of Asia, in coordination with Stephen Trevor, Partner and Head of Business Services/Industrials, working seamlessly across the firm's global platform. "As strong secular market trends in component miniaturization and electrification continue to drive increased high-precision carrier tape and component demand, Advantek is well-positioned to capitalize on attractive opportunities for continued growth globally," said Mr. Chu. "We look forward to leveraging our deep cross-border expertise to accelerate Advantek's growth in key international markets." "With a market-leading product suite and reputation for world-class quality and customer service, Advantek is a leading provider of precision component delivery systems for semiconductor and electronic components," said Mr. Trevor. "We look forward to working with the Advantek team to support their growth initiatives and expand Advantek's market leadership." "With our uniquely flexible global production model, we have grown Advantek to provide unparalleled products and service to our valued customers," said Mr. Goossens. "We appreciate the continued support of Tinicum and are thrilled to work with Cornell. With their unmatched global expertise, Cornell is the right partner as we look to enhance our value proposition to customers and execute our strategic growth plans." "We are pleased to continue supporting Advantek in advancing its mission," said Michael Donner, Partner at Tinicum. "We are confident that Advantek will continue to excel under Cornell's ownership and management's leadership. We look forward to the company's continued success as it enters this next chapter." About Advantek
Advantek is a leading provider of precision component delivery systems with facilities in North America, Asia and Europe. Advantek's solutions play an important role in the assembly process of products such as computers, mobile phones, LED lighting, medical components, smart appliances and automobiles. For more information, visit https://www.advantek.com . About Cornell Capital
Cornell Capital LLC is a U.S.-based private investment firm with ~$6 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the consumer, financial services, and industrials/business services sectors, often in companies that can benefit from the firm's Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs' Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience. For more information, visit www.cornellcapllc.com . About Tinicum
Tinicum, founded in 1974, is a private investment partnership with experience investing in private and public companies in industrial manufacturing, distribution, and technology. Tinicum invests in businesses for the long term and seeks to partner with owners, families, and managers who share a similar approach. For more information, visit www.tinicum.com . For Media Inquiries:

Cornell Capital to Acquire Advantek to Accelerate Growth Initiatives

When the deal closes, Tinicum will retain a minority stake in Advantek. Email address
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10h agoPrivate EquitypeprofessionalViews: 6
Atlantic Street Capital has agreed to sell Advancing Eyecare, a provider of ophthalmic instruments, to Cornell Capital. Advancing Eyecare (AEC) was formed by Atlantic Street’s second fund in 2019 to consolidate its investments in ophthalmic instrumentation companies, Lombart Instrument and Marco Ophthalmic. AEC’s products include chairs, stands, slit lamps, refractors, tonometers (measures intraocular pressure), lensmeters…... This content is for members only. Visit the site and log in/register to read. Not a member yet? Free Membership for Qualified Investors and Industry Participants
Easily Customize Content to Match Your Investment Preferences
Breaking News 24/7/365
Alternative Investment Listings & LeaderBoards
Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets,Presentations, Investment Mandates, Video PitchBooks & More! Company Directory
AUM Accelerator Program (designed for investment managers)
Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY.CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN.PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT.THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY.IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES.ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM.PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT. ALPHAMAVEN

ASC’s Ophthalmic Instruments Distributor Sold to Cornell

Goldman Sachs

Davis Polk & Wardwell

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Cornell Capital is a private investment firm that focuses on creating lasting value for its investors and portfolio companies by partnering with strong management teams to build businesses.

Name	Work History	Title	Status
Henry Cornell	Goldman Sachs, and Davis Polk & Wardwell	Founder, Senior Partner	Current
Steven LaDew	Parish Capital Advisors, Dune Capital Partners, Goldman Sachs, Johnson & Johnson, and Deloitte	Chief Financial Officer	Current
Katie Cusack	Credit Suisse, MTS Health Partners, and Goldman Sachs	Chief Operating Officer	Current
Faye Sellers	SmartSpace Software, AXA Health, Connect IB, and Sportstec	Chief Operating Officer, Senior Partner	Current
Elizabeth Wahab	Goldman Sachs	Chief Operating Officer	Current

Name	Henry Cornell	Steven LaDew	Katie Cusack	Faye Sellers	Elizabeth Wahab
Work History	Goldman Sachs, and Davis Polk & Wardwell	Parish Capital Advisors, Dune Capital Partners, Goldman Sachs, Johnson & Johnson, and Deloitte	Credit Suisse, MTS Health Partners, and Goldman Sachs	SmartSpace Software, AXA Health, Connect IB, and Sportstec	Goldman Sachs
Title	Founder, Senior Partner	Chief Financial Officer	Chief Operating Officer	Chief Operating Officer, Senior Partner	Chief Operating Officer
Status	Current	Current	Current	Current	Current

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