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.
The firm also announced a new system to track, investigate and disclose cases of models misbehaving, or "misalignment".
Katy Watson explores Australia's relationship with China - partner, rival or 'frenemy'?
Rates were hiked in a unanimous decision despite fierce opposition from President Donald Trump, who had called for a cut.
The 0.25% increase comes despite fierce opposition from the US president, who has called for rates to be cut.
Trump, who has frequently clashed with Canada's PM, threatens to cut trade with the European Union in response to the proposal.
Evan Spiegel says it would be "an important step forward for the industry" in an interview with the BBC.
Nvidia, OpenAI and Anthropic are all now selling their own limited edition fashion lines.
US Fed hikes rates for first time since 2023 as inflation stays sticky
The BBC's Samira Hussain looks at the factors considered in the increase by the Federal Reserve and what it could mean for the US economy.
The BBC goes inside a fortified storage facility to view luxury goods seized by police that are now up for auction.
Mr. Hamm’s company, Continental Resources, has signed a preliminary deal with Venezuela’s state-owned oil company to develop and produce oil.
Kevin M. Warsh, the Federal Reserve chairman, said the bank acted to fight inflation that ‘is too high and has been for too long.’
Lower wage growth and slower hiring in some sectors may be the result of artificial intelligence, especially for younger workers.
America’s position of global economic stability is starting to look shakier as the Trump administration piles on debt and doubles down on sanctions.
Elevated interest rates have raised the cost of mortgages and car loans without dampening consumer spending.
Fox is revamping the sports site following the exit of its founder, Clay Travis. It’s hiring a writer who resigned from The Seattle Times over a column about transgender athletes.
The absence of the annual estimate on the tax gap could make it more difficult to assess whether more taxes are going unpaid since President Trump took office.
The Treasury secretary and the Federal Reserve chairman face similar tests: calming investors’ growing worries about inflation and deficits.
Prolonged restrictions on exports could push oil prices even higher.
The Budget is only six weeks away and the economy is undoubtedly the biggest challenge facing the prime minister.
Summer holidays and disruption to global oil supplies by the Middle East conflict stoked price growth.
The prime minister insists he is prepared to take "difficult decisions" at next month's Budget.
If the Fed opts against raising interest rates on Wednesday, investors will probably increase their forecasts for inflation, injecting new turmoil into the government bond market.
The number of shoplifting offences recorded in England and Wales in 2025-26 is still above pre-pandemic levels.
The Hong Kong Special Administrative Region has unveiled its first five-year plan for economic and social development (2026-2030) on Wednesday.
Graphics: What stood out in China's economy in August?
The Pinglu Canal opens a faster gateway to the sea for China's Guangxi Zhuang Autonomous Region and southwest China's cargo.
Chinese films are gaining momentum in overseas markets, with North America emerging as an important testing ground for their global appeal.
The release of Hong Kong's first five-year plan marks an important milestone in the city's development. By building on its existing strengths and creating new opportunities through planning and innovation, the city can strengthen its competitiveness in a changing global environment.
The 23rd China-ASEAN Expo is set to open in Nanning, south China's Guangxi Zhuang Autonomous Region.
Sam Altman and other tech CEOs say there are incentives to limit advancements in AI, as fears grow over the threats it poses to humanity.
Chinese mainland welcomes Taiwan to Pinglu Canal opportunities
UK inflation rose in August, pushed up by higher petrol and diesel prices.
Ellen Pollock, who has spent nearly a decade in charge of the Business desk of The Times, is ready for a new challenge.
A recent high-profile shooting outside a mosque and rising threats to houses of worship have focused attention on security guards. Now, unions are pressing for better pay and training.
Generic questions get generic answers, experts say, so to avoid mediocre recommendations, you’ll need to write smarter prompts. Follow these tips.
For dozens of editors and reporters, the anniversary of the first issue of The Times in 1851 has been a moment to look back.
Four recent job starters share their tips on what helped them have a smooth transition and survive their first few days.
China's Hong Kong Special Administrative Region has never lacked ambition when it comes to urban development.
AI governance should be a shared global responsibility and that developing countries should have opportunities to participate in and benefit from AI development.
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.