Investment Firm Acquires TestEquity

Test equipment supplier TestEquity has been sold by its private owner First Atlantic Capital Ltd. to LKCM Headwater Investments. Terms of the deal for TestEquity, in Moorpark, between First Atlantic, in New York, and LKCM Headwater, in Houston, were not disclosed. First Atlantic acquired TestEuity in 2012 and it grew the company through two acquisitions. First, it bought EWD Solutions, a Carrollton, Texas supplier of electronic lab and production supplies in 2014. And in January it acquired Jensen Tool & Supply, in North Andover, Mass., a supplier of maintenance and repair tools and supplies supporting most of the same market segments as TestEquity. “Since acquiring TestEquity, we have worked closely with management to enhance the company’s strategy and expand the business through acquisitions,” First Atlantic Chief Executive Roberto Buaron said in a statement. “We believe TestEquity has a solid strategy with a strong management team and is well positioned for the future.”