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60 PCB007 MAGAZINE I NOVEMBER 2025 F E AT U R E C O LU M N I ST Q & A by M a rcy La Ro nt , I - C o n n e ct 0 07 Tom Kastner: Navigating the Complex World of M&A C o l u m n i st : Tom Kastner C o l u m n : Punching Out Ti m e w i t h I - C o n n e ct 0 07: 10 years Columnist Bio: To m Ka st n e r i s t h e p re s i d e n t of G P Ve n t u re s , a n M & A a d v i s o r y s e r v i c e s f i r m fo c u s e d o n t h e te c h a n d e l e ct ro n i c s i n d u st r i e s . G P Ve n t u re s h a s of- f i c e s i n C h i c a g o a n d To kyo a n d h a s c o m p l ete d ove r 2 0 d e a l s i n t h e P C B a n d E M S s e cto rs . To m Ka st n e r i s a re g i ste re d re p re s e n ta t i ve of, a n d s e c u r i t i e s t ra n s - a ct i o n s a re c o n d u cte d t h ro u g h , S t i l l Po i n t C a p i ta l , L LC — a Ta m p a , F l o r i d a , m e m b e r of F I N R A a n d S I P C. S t i l l Po i n t C a p i ta l i s n ot a f f i l i a te d w i t h G P Ve n t u re s . Select columns from Punching Out: • Entrepreneurship Through Acquisition Buyers for PCB/EMS Shops • M&A North American PCB and EMS Deals for the First Half of 2025 • Characteristics of Successful Leaders in North American PCB and EMS Sectors T om is I-Connect007's resident expert on merg- ers and acquisitions for PCB and EMS shops in the U.S. His column provides a great insight into this part of the market. Let's get to know you better, Tom. Where were you born and raised? What's a favorite childhood memory? I was born born in Southern California and lived on Balboa Island for several years. I recall that I ate a lot of chocolate-covered frozen bananas. We moved to Santa Clara when I was 12, so I consider myself a Silicon Valley guy. I lived in Japan for nine years and have lived in the Chicago area for 27 years. So, you are a Chicago transplant from California. Where did you attend college, and what did you study? I attended UC Berkeley, earning a degree in Anthro- pology. I have an MBA from Yale. I was trained in electronics on the hard streets of Tokyo. I worked for Hakuto, a Japanese manufacturer of PCB equip- ment and a semiconductor distributor, which was how I got into the industry. What professional accomplishments are you most proud of? It is very satisfying to help company founders real- ize their dream of selling their business. I started GP Ventures in 2008, and we've been in business for 17 years. I am proud of that. Tom, what do you enjoy most about your work in helping owners sell their businesses to the "next- generation" owner? An M&A deal is very complex and time-consuming. Most deals have multiple peaks and valleys that require solving complex tasks and working with a diverse range of personalities. It is interesting to work with intelligent entrepreneurs who have fascinating backgrounds. So far, no one has come up to me during or after a deal and hit me in the head with a frying pan, which I consider to be quite an achievement. What is your view of the future of business and industry in the coming years and decades? I believe that the trends for the industry are strong, especially given the current support from the federal and other governments. PCB and PCBA manufacturing have always been fulfilling environments in which to work. They can also be difficult and demanding businesses, at times. What words of wisdom can you share about surviving and thriving in this industry? Every industry has its ups and downs. Compa- nies that not only survive the bad times, but thrive