Evergreen Pacific Partners has completed an investment in Abracon Corporation, a manufacturer of frequency control and magnetic components. The founders of Abracon, Chris Polley and Don Bebout, will continue to lead the business as equity partners with Evergreen.
Abracon is a manufacturer of electronic components used for frequency control, signal conditioning, wireless communication, and power management. Products are sold to commercial, industrial, consumer and select military markets and include quartz timing crystals, crystal and micro-electro-mechanical systems oscillators, real time clocks, antennas, Bluetooth modules, ceramic resonators, and surface acoustic wave filters. The company’s design, engineering, and testing functions are based in California and Illinois; and sales offices are based in Texas, California, China, Taiwan, Singapore, Scotland, and Germany. Abracon was founded in 1992 and is headquartered in Irvine, CA (www.abracon.com).
The investment from Evergreen Pacific Partners (EPP) will enable Abracon to accelerate its growth through partnerships and acquisitions, expanding products, geographic locations and sales channels. “Driven by the proliferation of internet enabled devices, we’ve seen double digit growth in the past two years,” said Chris Polley, Chief Executive Officer. “With this investment from EPP, we will make strategic partnerships and acquisitions, allowing us to serve more customers in more places through an expanded product line, new geographic reach and new channel partnerships.”
Evergreen Pacific Partners invests in traditional buyouts, management led buyouts, and growth equity investments in middle-market companies located in the western US and Canada. Sectors of interest include manufacturing; distribution; specialty packaging; consumer products; and cable television and radio. The firm has two private equity funds under management with capital totaling $700 million. Evergreen Pacific Partners was co-founded by Timothy Bernardez, T. J. McGill, and Michael Nibarger and is headquartered in Seattle (www.eppcapital.com).
“Abracon has been executing on a service-centric growth plan since its founding, and this investment will enable them to expand their already strong position across multiple product categories,” said T.J. McGill, co-founder and managing partner of Evergreen Pacific Partners. “Chris Polley has assembled an outstanding team, and we look forward to working with them to seize new opportunities for growth through acquisition and enhanced customer satisfaction.”
In addition to the investment in Abracon, EPP’s other acquisitions and investments include Vantage Mobility International (Phoenix, AZ), Gene Juarez Salons & Spas (Seattle, WA), Good Source Solutions (Carlsbad, CA), Haney Truck Line (Yakima, WA), Puget Sound Truck Lines (Seattle, WA), Nickel Plate Express (Portland, OR), Nuprecon (Snoqualmie, WA), CST Environmental (Brea, CA), Marcor Environmental (Baltimore, MD), Radiant Imaging (Redmond, WA), Zemax Development Corp. (Redmond, WA) Thermal Dynamics (Ontario, CA), PAC Stainless (Seattle, WAZ, Span Alaska (Auburn, WA) and Abracon (Irvine, CA).
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-20-15