Press Releases
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Second Flight Capital Announces Acquisition of Panel Control Incorporated (PCI), Expanding Capabilities in Electronics and Controls Manufacturing
Dayton, OH (December 2024)-Dayton-based Second Flight Capital, along with its Mission Partner Investors, announces it has purchased Panel Control Incorporated (PCI), a trusted leader in custom control panel solutions based in Anna, Ohio. This strategic acquisition was finalized December 31, 2024, and marks an important milestone in strengthening Second Flight’s Electronics and Controls Manufacturing platform, which also includes Qualtronics, a leading provider of custom wire harnesses and cabling solutions.
Kyle Brandon, Founder and Managing Partner of Second Flight Capital noted, “PCI’s outstanding reputation, innovative approach, and talented team align with our platform’s core value of partnering with and preserving what is great about each organization. This transaction matches well with Second Flight’s vision of magnifying impact in our communities while ensuring long-term growth and value creation. Together, we are focused on maintaining PCI’s legacy and enhancing opportunities for its customers, employees, and stakeholders."
Robert Schwab, Senior Partner at Second Flight Capital, added: “This acquisition underscores our commitment to investing in organizations with strong leadership and proven track records of success. PCI is an exceptional company, and we are thrilled to support their continued growth and innovation as part of our platform.”
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A Vision of Growth and Collaboration
PCI and Qualtronics will combine their expertise, technical resources, and customer-driven approaches to deliver industry-leading turnkey solutions across material handling, agriculture, heavy truck, construction, and power OEM sectors.
The integration of PCI into Second Flight Capital’s portfolio enhances its ability to deliver comprehensive solutions, combining PCI’s excellence in control panels with Qualtronics’ expertise in wire harnesses and cabling. Together, the companies will continue their commitment to quality, innovation, and strong partnerships.
“The synergies between PCI and Qualtronics are unmatched,” said Tim Fries, President and CEO of Qualtronics and PCI. “This partnership not only strengthens our market presence but also creates significant opportunities for our employees and customers. What makes this even more exciting is the alignment of our shared values. Both PCI and Qualtronics are deeply committed to fostering the personal, professional, and spiritual development of our employees. By bringing together two outstanding teams, we are setting the stage for accelerated innovation and industry leadership while staying true to our core values.”
Luke Wade, EVP & COO of Qualtronics and PCI, echoed this sentiment: “Working together, our teams will deliver greater efficiency and innovation to the industries we serve. This collaboration is a great example of how shared expertise and vision drive success.”
Finding the Right Partner
Sandy Wells, President of PCI, emphasized the importance of partnering with Second Flight Capital: “In Second Flight, we found a partner that shares our vision and values. Their commitment to fostering growth while maintaining a focus on quality and relationships made them the right choice for PCI. This collaboration ensures our legacy of excellence continues while positioning us for an exciting future.”
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About PCI
Founded in Anna, Ohio, Panel Control Incorporated (PCI) specializes in high-quality custom control panels, offering turnkey design, custom painting, cable assembly, and field support to a diverse range of industries. Visit PCI at www.panelcontrolinc.com.
About Qualtronics
Based in Columbus, Indiana, Qualtronics is an ISO-certified provider of custom wire harnesses and cabling solutions, delivering expertise in manufacturing, design, and prototyping across multiple markets. Visit Qualtronics at www.qualtronics.com.
About Second Flight Capital
Second Flight Capital is a Dayton, Ohio-based investment firm focused on building scalable platforms with a mission to honor the legacy of its companies through profitable growth and continuing community impact. Visit Second Flight Capital at www.secondflightcapital.com.
Media Inquiries
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Tim Fries, President and CEO, Qualtronics and PCI
tim.fries@qualtronics.com | 513-410-0559
Kyle Brandon, Founder and Managing Partner, Second Flight Capital
kyle.brandon@secondflightcapital.com | 937-572-1880
Dayton, Ohio
November 30, 2023
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Qualtronics LLC Acquired by Second Flight Capital
Second Flight Capital (SFC), headquartered in Dayton, OH, is delighted to announce the acquisition of Qualtronics LLC, a custom wire harness manufacturer located in Columbus, IN.
Qualtronics was founded in 1996 to fulfill the growing demand for a quality producer of customer wire harnesses. The company also aspired to be an employer of respect and caring for their employees as they would be a valued asset to the company. Qualtronics has accomplished both aspirations and now employs over 120 people under the direction and guidance of Rob and Janice Daly, owners of Qualtronics.
Second Flight Capital was founded in Dayton at the beginning of 2022 by Managing Director, Kyle Brandon, with the vision to provide an opportunity to business owners who have created good businesses with strong cultures. “I have gotten to know many business owners in the region who are grateful for the success their companies have enjoyed. They are grateful for their employees, their customers, and their community. While they have a desire to implement an exit strategy, with a fair return, they wish to see their businesses continue to thrive and make an impact,” said Mr. Brandon.
“Janice and I have focused on the values of integrity, trust, and care for the families that work at Qualtronics as well as exceeding customer expectations the first time and every time”, says Mr. Daly. “Second Flight shares our values and vision and we’re confident that our legacy will be secure and expanded.”
Succeeding Rob Daly as Chief Executive Officer will be Tim Fries, most recently Market President of Amend Consulting, with a 30-year history of leadership accomplishments in manufacturing and distribution. Reports Mr. Brandon, “Tim was instrumental in bringing Second Flight this opportunity and immediately expressed a desire to be an investor. Tim’s passion and skill in executing sustainable growth strategies bodes well for the future of Qualtronics.” Mr. Fries notes, “I am both excited and humbled to get to work with the Qualtronics team, to leverage the quality foundation they have built, and expand the partnerships they have with notable customers, from design to production. The Qualtronics business aligns very well with the mission and vision of Second Flight.”
Robert Schwab, Senior Partner of Second Flight Capital, adds, “the mission of Second Flight is to bring business owners and investors together who seek to continue their legacy. The strategy to transaction was executed very well and this foundational acquisition of Qualtronics provides an excellent opportunity to build something very special.”
Said Mr. Brandon, “we are grateful for the opportunity Rob and Janice have presented to us. We have great expectations to build a powerful custom wire harness platform in the region which provides big opportunities for impact while delivering superior returns.”
Contact:
kyle.brandon@secondflightcapital.com
robert.schwab@secondflightcapital.com
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Qualtronics & PCI Hire Josh Juran as Chief Financial Officer This strategic hire strengthens the financial leadership of both organizations as they position themselves for substantial profitable growth over the next few years.
Cincinnati/Dayton, OH – May 21, 2025 – Qualtrics and Panel Control Integrators (PCI) are pleased to announce the appointment of Josh Juran as Chief Financial Officer. In this role, Juran will lead both companies' financial strategy and operations, helping to drive scalable growth, operational excellence, and long-term value creation. He will also serve as a critical member of the Executive Leadership Team.
Juran brings over 20 years of financial leadership experience, most recently serving as Vice President of Capital Markets and Planning at Macy's, Inc., where he executed more than $6 billion in new debt transactions and managed a $900 million capital investment portfolio — all while serving as a trusted advisor to executive leadership and external stakeholders. His expertise spans capital markets strategy, forecasting, financial planning and analysis, M&A, and team development.
Tim Fries, CEO of Qualtronics and PCI, stated, "Josh is a strategic and cultural fit for our platform at a pivotal time. He brings sharp financial acumen, but more importantly, he shares our belief that business is about more than profit — it's about people. Josh leads with heart, integrity, and purpose, which aligns perfectly with our commitment to caring for our teams personally, professionally, and spiritually."
Juran commented, "I am very excited to join this incredible team. Both companies are poised for significant growth, and I look forward to bringing additional financial insights and disciplines that will enable us to scale quickly. Above everything, I really appreciate the organization's focus on developing its people and culture – a key ingredient in fueling long term profitable growth."
Juran earned his MBA from the Kellogg School of Management at Northwestern University, with concentrations in Finance, Accounting, and Management and Organizations. He also holds a BA in Economics and Political Science from the University of Michigan. He lives in Evandale, Ohio, with his wife and two sons.
Juran is known for his collaborative leadership style and passion for team building. He will support the company's combined growth trajectory, including expansion into new markets, operational alignment, and strategic investments.
About Qualtronics and Panel Control Integrators:
Qualtronics and Panel Control Integrators are manufacturing and integration leaders specializing in electric and controls solutions for industries including material handling, truck and auto body, and industrial automation. Both organizations are committed to operational excellence and creating environments where people are empowered to thrive personally, professionally, and spiritually. Learn more at www.pciconnects.com and www.qualtronics.com.
For media inquiries, please contact: Tim Fries Chief Executive Officer tim.fries@qualtronics.com