Recapitalizing the business for growth
Foxhole Group (“Foxhole”), a private Investment firm focused on the industrial sector, has announced that it has partnered with JJ and Sherri Richardson of CCK Automations, Inc. (“CCK” or “the company”) for CCK’s recapitalization. CCK is a designer and manufacturer of printed circuit board assemblies (PCBAs), injection molded plastics and specialty machining. Headquartered in Jacksonville, CCK has more than 22 years in business. Led by the Richardsons since its founding in 1999, the company specializes in the support and design of complex, highly engineered and high-speed circuit board assemblies. CCK’s products are often designed to endure the harshest conditions faced by customers in the agriculture technology, commercial vehicle and industrial manufacturing sectors, but its superior quality also attracts customers in a variety of other markets, including healthcare, restaurants, the agricultural equipment and livestock industry, as well as in the automotive, lighting, heating / cooling, industrial manufacturing and consumer electronics industries.
Foxhole Group looks forward to the partnership with the Richardsons. JJ Richardson is an experienced electrical engineer and manager. CCK was named using the initials of his three children. The Richardson grew the business after owning another successful electrical contracting business in the area, and he will continue in his role as CEO. Richardson has many years of delighting customers by solving problems that other contract manufacturers simply cannot solve. Richardson is an extremely active member of the Jacksonville community, serving on the board of directors of the Jacksonville Regional Economic Development Corporation (JREDC).
“I am excited to partner with the Foxhole Group to take the business to new heights by bringing their strategic vision and energy into a business that Sherri and I have poured our hearts and souls into for over two decades,” commented CCK CEO JJ Richardson. “This investment will help CCK grow, add capabilities and strengthen our position coming out of the greatest parts shortage the PCBA industry has ever seen, while continuing to provide our customers with a world-class product and unparalleled customer service.”
J.B. Moore, managing partner of Foxhole added, “My partner Dan and I became intrigued by the PCBA industry after learning about its criticality in advancing the Industrial Internet of Things. It has been a sector thesis for us for some time. After visiting or speaking with 50 assembly shops, it became clear there was a spectrum of quality, and CCK was clearly near the top. The Richardsons have done an amazing job of growing the company by continuing to invest in technology. This is a business with an incredible amount of untapped potential, and it is primed for growth given the level of quality staff and automation the Richardson’s have brought into the business. We are thrilled to partner with them to explore opportunities to tap this potential and grow the staff in his state-of-the-art facility.”