CenterGate Capital has acquired AC Photonics (ACP), a provider of optical and fiber optic components and modules.
AC Photonics’ products include fiber optic modules, fused and/or filter based fiber optic components, switches, PM (polarization maintaining) components, PLC (planar lightwave circuit) products, light sources, modulators, and optical lenses and prisms. The company’s polarization maintaining components are used to resolve polarization problems in fiber optic networks which are becoming increasingly important in today’s higher speed and more complex optical networks. ACP is headquartered in Santa Clara, CA (www.acphotonics.com).
CEO Arthur Wang, who founded ACP in 1995, will continue to lead the company and serve on its Board of Directors under CenterGate ownership. “We could not be more excited to have CenterGate partner with ACP,” said Mr. Wang. “CenterGate’s investment will provide ACP the capital and strategic resources necessary to both better serve our customers and realize our future growth plans.”
“CenterGate is thrilled to partner with Arthur and the dynamic AC Photonics team. We believe our partnership will unlock additional opportunities as ACP continues on its growth path as we leverage its passive optical components leadership position for new customers and markets,” said Lewis Schoenwetter, Managing Director at CenterGate Capital.
CenterGate Capital invests in lower middle market companies that have from $20 million to $250 million of revenue and up to $20 million of EBITDA. Sectors of interest include business services, industrials, energy services, consumer, and healthcare. In December 2016, the firm held an above target and oversubscribed final closing of CenterGate Capital Partners I LP with $350 million of capital commitments. CenterGate is headquartered in Austin (www.centergatecapital.com).
Robert Ullman of Dinan Capital Advisors (www.dinancompany.com) was the financial advisor to AC Photonics on this transaction.
© 2018 Private Equity Professional | January 12, 2018
