Trive Invests in California Brazing

Trive Capital has made an investment in California Brazing, a contract maker of high-tolerance metal parts used in a range of applications.

California Brazing specializes in CNC machining, metallic and ceramic vacuum brazing, and heat-treating services for both OEM and Tier 1 defense and communication customers. The company’s products include satellite waveguides, antenna sub-systems, cold plates and other thermal management devices.

The company’s furnace brazing capabilities include active metal brazing of ceramics, refractory and reactive metals, including copper. Vacuum brazing is a high-end joining technology because it results in parts with extremely strong joints and with no residual corrosive flux. It is a process in which two base metals, such as aluminum plates, are joined together using a filler metal that has a melting point below that of the base metal. Successful vacuum brazing relies on the use of proper techniques as well as the correct materials and furnace capability to continuously control the brazing cycle.

California Brazing, founded in 2002 and led by CEO Rich Penrose, has nine vacuum furnaces (including four aluminum vacuum brazing furnaces and three cold wall hydrogen brazing furnaces) at its facilities in Newark, CA (headquarters) and Carson City, NV (www.californiabrazing.com).

In October 2018, the company expanded its manufacturing with the purchase of a fourth vacuum aluminum brazing furnace. “California Brazing’s unique value proposition and recent investment in new capacity and capability has resulted in tremendous growth,” said Mr. Penrose. “We look forward to continuing this momentum and chose to partner with Trive based on their knowledge in the sector, operational approach and shared vision for the future. Our mission is to deliver best-in-class services and support to our customers, which we believe will be further enhanced with the Trive partnership.”

“We are excited to partner with California Brazing management in support of the next phase of the company’s innovation and expansion,” said David Stinnett, a partner at Trive Capital. “We believe the California Brazing team has built a differentiated capability and reputation for supporting highly engineered components that will benefit from increased funding into satellite, aircraft connectivity and defense electronics sectors.  Trive looks forward to providing capital and resources to help the business achieve continued growth and value to its customers.”

Trive invests from $10 million to $150 million of debt or equity in North America-headquartered companies with revenues of $40 million to $1 billion. The firm is industry-agnostic but has specific experience across a wide range of sectors including aerospace and defense, automotive, building products, business services, chemicals, and consumer goods. In September 2017, Trive held a final closing of Trive Capital Fund III LP with $1 billion of capital commitments. The firm was founded in 2012 by Conner Searcy and Chris Zugaro and is based in Dallas (www.trivecapital.com).

© 2019 Private Equity Professional | January 8, 2019

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