Montage Partners Successfully Exits Investment in Boundary Devices
Dec 13, 2022
Montage Partners, a people-first private equity firm based in Scottsdale, Arizona, is pleased to announce the successful exit of its investment in Boundary Devices (the "Company"), a global leader in designing and manufacturing ARM-based System-on-Modules and Single Board Computers for the general embedded market, to Laird Connectivity, a leading provider of wireless connectivity modules, internal antennas, IoT devices, and custom wireless solutions.
Founded in 2003 and headquartered in Lake Forest, California, Boundary Devices serves a diverse and global customer base across high-growth end markets, including IoT, commercial equipment, displays and controls, laboratory equipment, and communications. The Company is a pioneer and continued leader within the NXP family of processors and offers a one-stop-shop for customers with a range of needs, from hardware design and software development to manufacturing, integration, and support with best-in-class engineering, standard products, and proprietary custom solutions.
Montage Partners facilitated a recapitalization of Boundary Devices in 2016 in partnership with the Company's founders, Pejman Kalkhoran, Parviz Kalkhoran, and Troy Kisky.
"Boundary Devices was at an inflection point in 2016 and we decided to seek an equity partner to help us reach our next level of potential. We chose Montage Partners because we knew they were best suited to help us in further building infrastructure and executing our strategy to maximize growth," said Pejman Kalkhoran, CEO of Boundary Devices. "Together, we've been highly successful in exceeding our collective goals. Without the help of Montage Partners, we wouldn't have been able to achieve the same level of success and we're grateful for our partnership."
Since Montage Partners' investment in 2016, revenue and EBITDA at Boundary Devices have each grown approximately fourfold, driven entirely by organic growth initiatives. During this time, the Company successfully navigated extreme supply chain shortages during the COVID-19 pandemic and, throughout Montage Partners' hold period, significantly improved capacity, delivery times, and margins by adding in-house manufacturing capabilities. Boundary Devices also bolstered its inbound and outbound sales, marketing, and business development functions to aggressively grow its client base, while working with Montage Partners to recruit several high-impact positions. The Company tripled its employee count over the last six years.
"It's been our absolute pleasure to have worked with the entire Boundary Devices team," stated Rob Wolfman, co-Managing Partner of Montage Partners. "Our relationship with Boundary Devices is indicative of how we help founder-owned companies scale and position themselves for even greater future success. We're honored to have partnered with Pejman, Parviz, and Troy; they represent exactly the type of high-quality, values-oriented leaders we seek to work with. We wish them and Laird Connectivity the best and are confident the Company will continue to thrive for years to come."
Lincoln International served as financial advisor, and Osborn Maledon, P.A. served as legal advisor to Montage Partners.
Contact Information:
Brooke Ouvarov-Bancalero
Director of Marketing & PR
[email protected]
4806656657
Press Release Service by Newswire.com
Original Source: Montage Partners Successfully Exits Investment in Boundary Devices
More News
9 Senate races that could decide the 2026 midterm elections as Republicans fight to hold their majority and Democrats target key battleground seats
The 2026 Senate race is narrowing around a handful of states where one seat could change the balance in Washington. Republicans hold 53 seats, while Democrats need four net gains for control. From Alaska's unusual ballot to Ohio's comeback fight, these contests offer the clearest look at where the Senate majority could be decided.
US Air Force to shut down research centre focusing on Chinese military
The US Air Force is shutting down a major research centre dedicated to open-source analysis of the Chinese military’s air, space, cyber and missile capabilities. The China Aerospace Studies Institute (CASI) said in a statement on Tuesday that Air University, the US Air Force institution under which it operates, had decided to close the institute, with all of its roles becoming unfunded from October 1. CASI said its employees would continue to work and get paid for now and that it expected to...
Jonathon Brooks heads to injured reserve again, forcing the Panthers to explore a familiar NFL name in Austin Ekeler
Jonathon Brooks will have surgery for a core muscle injury and is expected to miss at least six weeks. This injury occurred after he was regaining form for the Carolina Panthers following previous ACL injuries. Chuba Hubbard is anticipated to take on a larger role in the backfield during Brooks' absence. The Panthers are actively seeking additional running back support, bringing in Austin Ekeler for a workout.
Panthers turn to Veteran Austin Ekeler after Jonathan Brooks lands on injured reserve
The Carolina Panthers are searching for additional running back depth after Jonathan Brooks suffered an injury expected to sideline him for an extended period. Brooks is set to undergo surgery for a core muscle injury and is expected to miss at least six weeks, according to NFL Network’s Ian Rapoport. Carolina worked out veteran running back Austin Ekeler on Wednesday, with NFL insider Aaron Wilson reporting that Ekeler had received medical clearance following his Achilles injury with Washington. Ekeler brings extensive rushing and receiving experience from his time with the Chargers and Commanders.
Manipur CM Yumnam Khemchand Singh interacts with star weightlifter Mirabai Chanu through video conference
While extending his heartiest congratulations to her, the Chief Minister said that Mirabai Chanu has once again made the whole country proud. He said that her hard work, discipline and perseverance are an inspiration for all young sportspersons of the country, especially for the youth of Manipur.
Manipur CM Yumnam Khemchand Singh interacts with star weightlifter Mirabai Chanu through video conference
While extending his heartiest congratulations to her, the Chief Minister said that Mirabai Chanu has once again made the whole country proud. He said that her hard work, discipline and perseverance are an inspiration for all young sportspersons of the country, especially for the youth of Manipur.
‘Our passport is absolutely useless’: Entrepreneur says he pays Rs 1 crore in taxes but gets no international benefit, post goes viral
An X post by Hyderabad entrepreneur Jitendra Emmani has sparked discussion over the international mobility available to Indian passport holders. Emmani criticised visa requirements, documentation and waiting times, while linking the issue to Indians seeking foreign passports. His comments also mentioned his claimed annual tax payments and drew a range of responses from social media users.
IBBI allows liquidators to modify stakeholder list on new information
Under the earlier regime the liquidator could not change this list independently and had to apply to the Adjudicating Authority- usually the National Company Law Tribunal (NCLT)- for modifications.
Opponent Comes Late, India Loses Qualification: Bizarre Asian Games Rule Rocks eFootball Team
India's eFootball campaign at the 2026 Asian Games ended in frustration after Mongolia's late arrival led to a forfeit win for India, hindering their qualification chances.
Quote of the Day by Humphrey Bogart: “Everybody has something to… – Timeless lessons on privacy, human nature, secrecy and the hidden sides of people by the American actor
Quote of the Day by Humphrey Bogart: A memorable observation associated with Humphrey Bogart offers a thought-provoking way of looking at privacy, human nature and the things people choose to keep hidden. His striking words, “Everybody has something to conceal,” suggest that every person carries private thoughts, experiences or feelings that may not always be visible to others. The idea raises an intriguing question about why people keep certain parts of themselves concealed and whether having something private necessarily means having something to hide.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.