Palomar's Management Buys Out Original Investment Group

July 31, 2008
The management of precision-automation-equipment supplier Palomar Technologies has bought out the company from its original investors. That original investment group, which spun the company out of Los-Angeles-based Hughes Aircraft Company in 1995, ...

The management of precision-automation-equipment supplier Palomar Technologies has bought out the company from its original investors. That original investment group, which spun the company out of Los-Angeles-based Hughes Aircraft Company in 1995, foresaw the growing importance of contract manufacturing and automated assembly equipment and recognized the opportunity for developing high-performance machinery to speed electronic assembly.

The company is now owned by local management, which has been with the company for many years. As Bruce Hueners, president and chief executive officer (CEO) of Palomar explains, "This is a very positive step forward for Palomar. We are financially self-sufficient with an awesome team of employees and the latest technologies in precision interconnect for microelectronic assembly. All of our current operations, products, and services will continue unchanged, so there will be no effect on our customers worldwide. Going forward, having local ownership will enable us to act quickly to take advantage of opportunities in our space."

Palomar is one of the world's leading suppliers of automated wire bonders and component placement systems along with process development and contract assembly services.

About the Author

Jack Browne | Technical Contributor

Jack Browne, Technical Contributor, has worked in technical publishing for over 30 years. He managed the content and production of three technical journals while at the American Institute of Physics, including Medical Physics and the Journal of Vacuum Science & Technology. He has been a Publisher and Editor for Penton Media, started the firm’s Wireless Symposium & Exhibition trade show in 1993, and currently serves as Technical Contributor for that company's Microwaves & RF magazine. Browne, who holds a BS in Mathematics from City College of New York and BA degrees in English and Philosophy from Fordham University, is a member of the IEEE.

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