Windjammer’s Hermetic Solutions Buys Nano Connector Maker
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Windjammer’s Hermetic Solutions Buys Nano Connector Maker

Hermetic Solutions Group, a portfolio company of Windjammer Capital, has acquired Cristek Interconnects.

Cristek manufactures electronic connectors that are used in defense and aerospace applications. The company specializes in nano-miniature and micro-miniature connectors, and it also provides specialized harnesses and cables, as well as radio frequency (RF) and electro-mechanical assemblies. Cristek, founded in 1985 by President Cristi Cristich, operates a 56,000 square foot facility in Anaheim, California with additional facilities in Lowell, Massachusetts and Minden, Nevada.

Hermetic Solutions Group (HSG) is a provider of hermetic (airtight) packaging and components that are designed to ensure that critical electronic systems function reliably in demanding environments where it is essential to control for factors such as weight, space, vibration, temperature, moisture and off-gassing.

The company’s products – sold under the Hi-Rel, Pacific Aerospace & Electronics, Litron and Sinclair brands – are used in defense platforms, as well as niche applications in medical devices, optical networking and industrial products. HSG is led by CEO Keith Barclay and is headquartered near Philadelphia in Trevose, Pennsylvania.

“With shared customer-centric values and a highly engineered product offering, Cristek is complementary to our engineered component and microelectronic packaging solutions,” said Mr. Barclay. “As a market leader in the design and manufacture of mission-critical interconnect products, we are thrilled that Cristek is the cornerstone acquisition of HSG’s new specialty interconnect solutions platform.”

“Joining with HSG ensures Cristek is well-positioned to deliver the products, performance and personalized support that our customers rely upon,” said Ms. Cristich. “I want to thank Keith Barclay and the team at Windjammer for their embrace of Cristek’s team members, who remain integral to our continued success. I look forward to working with the team of professionals at HSG to further increase our collective value proposition as well as develop our new interconnect platform.”

“Specialty interconnect solutions is a logical and strategic extension of HSG’s current product offering and value proposition,” said Craig Majernik, a managing director at Windjammer. “The addition of Cristek greatly expands HSG’s addressable market while retaining its core identity as a provider of critical, performance-enabling components, assemblies and engineered solutions that support signal transfer, preservation and performance in harsh environments.  Ensuring mission-critical electronic systems function reliably under the most demanding operating conditions is, and will continue to be, the driving force behind HSG’s organic and M&A growth strategy.”

Windjammer invests equity and subordinated debt as a control investor in middle-market businesses located in the US or Canada that have EBITDA from $8 million to $50 million. Sectors of interest include niche manufacturing, business services and value-added distribution. The firm’s investment size ranges from $50 million to $200 million per transaction. Windjammer was founded in 1990 and is based in Waltham, Massachusetts and Newport Beach, California.

Windjammer acquired HSG in February 2019 from Shoreview Industries.

© 2021 Private Equity Professional | January 28, 2021

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