Vance Street Capital LLC, a Los Angeles-based private equity firm, today announced that it has sold Micross Components, Inc., a global provider of specialty electronic components, to Insight Equity, a private equity firm. Terms of the transaction were not disclosed.
Vance Street acquired a majority interest in Micross Components in 2009 and grew the Company’s revenue both organically and through the successful integration of two strategic acquisitions – Chip Supply in 2010 and Ditronix in 2011. These acquisitions bolstered the Company’s capabilities, allowed it to enter new markets and provided significant cost-saving opportunities. During this time period, Micross also consolidated all of its sales and marketing efforts under the Micross brand and instituted a number of operational initiatives that increased plant utilization and achieved additional cost savings. The transaction with Insight Equity will be Vance Street’s second successful sale from its current fund.
“Working in conjunction with Micross’ talented management team, we successfully grew the business and helped the company achieve its objectives,” said Richard Crowell, partner at Vance Street. “As a result, Micross is one of the most diversified players in the industry and will no doubt continue to expand and gain market share.”
Lincoln International acted as the exclusive financial advisor to Micross. O’Melveny & Myers LLP acted as legal counsel to Micross.
About Micross Components, Inc.
Micross Components is a leading global provider of distributed and specialty electronic components for military, space, medical, and demanding industrial applications. Operating as a single source for high-reliability and state-of-the-art electronics, Micross’ solutions range from bare die and wafer processing to advanced and custom packaging to component modifications and related interconnect offerings. With a 30+ year heritage, Micross possesses the design, manufacturing and logistics expertise needed to support an application from start to finish. For more information, visit www.micross.com.
About Insight Equity
Insight Equity is a private equity firm that makes control investments in strategically viable, middle market companies underperforming their full potential. Insight Equity’s experienced principals have acquired and managed businesses with over $4B in aggregate revenue since 1998. The firm leverages a proven collaborative value creation model to facilitate operational improvements leading to significant cash generation, growth and attractive investor returns. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City. More information about Insight Equity is available at www.insightequity.com.
About Vance Street Capital
Vance Street Capital is a Los Angeles-based private equity firm that makes control investments in companies with enterprise values up to $200 million. Preferred industries include aerospace and defense, medical components and devices, precision industrial manufacturing and business services. For over two decades, Vance Street’s partners have worked with management, family owners and other co-investors to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com