Issue link: https://iconnect007.uberflip.com/i/1506834
SEPTEMBER 2023 I SMT007 MAGAZINE 17 Look at what private equity is doing right now for dentist offices, and such. ey buy a platform, or they get a big office, and they start consolidating all the smaller offices; you get the returns on scale. ere's nothing unique about the playbook. ere are probably a lot of things within microelectronics and printed circuit boards that would be attractive to a private equity firm. Matties: Now that we're seeing some of the greener sustainability initiatives, such as zero-discharge facilities, that adds to the appeal. at's right. Many people don't rec- ognize that about private equity, but it gets its funds to buy companies from all over, such as pension funds for firefighters, police, teachers, sovereign states, individual wealthy people; but when the day ends, they have ESG requirements as well. If a private equity firm wants to raise a multi-billion-dollar fund, there is a good chance their fund docs have an ESG component to it. So, you're absolutely right, Barry, ESG is a big discussion across all indus- tries domestically. Microelectronics is no dif- ferent in that we're seeing many companies within this industry becoming more compliant each year. at's also appealing. Matties: With the associations you've men- tioned—USPAE, IPC, PCBAA—do you think that collective voice has raised the aware- ness further than it's ever been? Is the result what you're describing? How are these asso- ciations coordinating and working together? It has definitely raised awareness. We work closely with the leaders of these organiza- tions, including John Mitchell, Chris Mitchell, Nathan Edwards, and Chris Peters, although our missions are somewhat different. IPC is an international governing body with a broad view on the overall electronics industry. USPAE is domestically focused and takes up some very important topics outside of what the PCBAA is doing. It's all complementary. e organiza- tions work together and frequently co-sign let- ters that go up to the president or Congress. e three organizations really leverage and support each other. Numbers speak in Wash- ington; we can talk about our 28 corporate members and several individual members, and how we represent over $15 billion of econom- ics, but when you couple that with USPAE and IPC, it is a powerful voice in Washington. Matties: It's great to hear that we're getting the clout that is so needed and deserved. I feel we have more momentum than we've had in a long time—even before I joined microelec- tronics. Industry leaders will tell me, "Travis, it's never been this way. It hasn't felt this good in a long time." We're seeing investment within the U.S., even outside of government funding. I think it will be a good time. Like I said recently in Washington, I truly believe we have 36 months to make something happen. As a group of organizations—PCBAA, IPC and USPAE—we need to get something done in the next 36 months. Johnson: Travis, thanks so much. Kelly: It's been a great conversation. SMT007