NEOTech Acquires Virtex to Expand Defense Manufacturing Footprint
NEOTech, an Arkview Capital portfolio company, has acquired U.S.-based Virtex, a move that consolidates eleven manufacturing facilities and over 2,500 employees. The deal aims to bolster domestic production capacity for mission-critical electronics, specifically targeting the defense sector where high-reliability, ITAR-registered services remain a strategic priority.
The acquisition integrates Virtex’s five domestic facilities into the broader NEOTech network, creating a unified provider capable of managing full product lifecycles. From initial design and prototyping to complex system integration and aftermarket support, the combined entity targets low-to-medium-volume, high-mix manufacturing markets.
Pavel Chernyshov, Co-Founder of Arkview Capital, noted that the merger serves the firm's strategy to build a large-scale manufacturing partner for defense clients requiring technical sophistication. Frank Crocker, a Principal at Arkview, added that the consolidation provides customers with increased capacity and a resilient supply chain without compromising operational responsiveness.
Financing for the transaction was secured through a consortium including PNC Bank, Crestline Investors, and Canyon Partners. While financial terms remain undisclosed, NEOTech officials confirmed that the firm plans continued investment in advanced manufacturing technologies and quality systems. Legal and financial advisory services for the deal were provided by a group including Sheppard Mullin, Greenberg Traurig, and Lincoln International.
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