Infinite Electronics, a distributor of electronic components and cable assemblies and a portfolio company of Genstar Capital, has been acquired by Warburg Pincus.
Infinite’s components, assemblies, and wired/wireless products are sold under a variety of company-owned brand names including Pasternack, Fairview Microwave, L-com, PolyPhaser, and Integra Optics.
Infinite Electronics is led by CEO Penny Cotner and is headquartered in Irvine, California.
“Infinite Electronics was created to serve as the definitive electronic components source for engineers in need, supporting our customers with urgent deadlines with the industry’s broadest offering of products that are in stock and ready to ship same day. This investment will further strengthen and expand our industry-leading product portfolio, while enhancing our mission to provide our global engineering customer base with deep technical expertise and support. We are excited to partner with Warburg Pincus to accelerate the company’s mission and strategy,” said Ms. Cotner. “We would like to thank Genstar Capital for their close partnership with our team and for their valuable contributions and strategic insight over the years.”
Genstar acquired Infinite Electronics (then Infinite RF) from Windjammer Capital in May 2016. “Genstar’s focus in the industrials sector is to invest in differentiated businesses in high growth end markets with multiple opportunities for value creation leveraging Genstar’s expertise and capital,” said Rob Rutledge, a managing director at Genstar. “Since our investment in Infinite in 2016, we have supported numerous growth acceleration initiatives, including new product expansions and successfully completing six acquisitions. We are grateful for the partnership with management over the past few years and wish Penny and the team the best of luck in Infinite’s next chapter of growth.”
“We look to partner with world-class management teams and support market-leading companies with multiple paths for growth,” said Jeffrey Goldfaden, a managing director at Warburg Pincus. “Infinite Electronics is uniquely positioned to grow both organically and through continued strategic acquisitions, with the opportunity to benefit from key secular trends including the adoption of IoT, 5G deployment, industrial automation, connected vehicles, and global data traffic growth.”
Warburg Pincus has more than $58 billion in assets under management and has raised 19 private equity funds since its founding in 1966. The firm is headquartered in New York City with additional offices worldwide.
Genstar is an active investor in middle-market companies that have enterprise values from $50 million to $1 billion and EBITDAs greater than $15 million. Sectors of specific interest include financial services, software, industrial, and healthcare industries. Genstar was founded in 1988 and is based in San Francisco.
Baird and Jefferies were the financial advisors to Infinite and Genstar.
© 2021 Private Equity Professional | March 4, 2021