BOSTON--(BUSINESS WIRE)--Audax Private Equity has completed the sale of Winchester Electronics to Snow Phipps, a private equity firm based in New York, in conjunction with management and other investors. Terms of the transaction were not disclosed.
Headquartered in South Norwalk, Connecticut, Winchester is a leading provider of custom engineered interconnect solutions for high reliability applications in the military / aerospace, medical, semiconductor, oil and gas, and other diversified end markets. Since Audax’ initial investment in 2006, Winchester has completed 13 acquisitions, diversifying the company’s customer and end-market exposure, shifting business mix toward higher growth and higher margin ruggedized applications, and broadening its product and manufacturing capabilities.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said, “Kevin Perhamus and his management team did a terrific job working with us to build the company organically and through add-on acquisitions. By increasing product depth and breadth, Winchester is able to deliver exceptional value to its customers. We wish Kevin and his team continued success.”
Kevin Perhamus, CEO of Winchester, said, “Audax has been instrumental in transforming Winchester through organic growth and acquisitions. Together we have developed the executive team, restructured and expanded the sales force, developed a vertical marketing function, implemented a new CRM system, and executed on thirteen acquisitions.”
Lincoln International served as the exclusive financial advisor to Winchester and Audax. Kirkland & Ellis LLP advised Winchester and Audax in the transaction. Simpson Thacher & Bartlett LLP were legal advisors to Snow Phipps.
ABOUT WINCHESTER ELECTRONICS
Founded in 1941, Winchester is a leading provider of custom engineered interconnect solutions for diverse, growing end markets requiring high reliability and application specific expertise. Winchester’s world class design and engineering capabilities enable it to solve interconnect problems when downtime of the application can result in significant economic losses to the customer. The Company’s complex, custom connectors and engineered cable assemblies transmit power and data to numerous global, blue-chip OEMs. Winchester’s strategic global footprint, supported by nine facilities and one corporate office, provide local engineering and sales support to its customers. For more information about Winchester, visitwww.winchesterelectronics.com.
ABOUT AUDAX PRIVATE EQUITY
Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and Menlo Park, Audax Group has over $10 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website atwww.audaxgroup.com.
