Winchester Electronics, a portfolio company of Audax Group, has completed the acquisition of Clements National Company. The acquisition of Clements is the fourth add-on acquisition for Winchester which Audax acquired in June 2006.
Clements is a designer and manufacturer of power and signal connectors to the rail/mass transit and marine, and oil & gas markets. Its connectors and cable assemblies are sold under the Cadillac trademark to railroad equipment manufacturers and rail operators, as well as oil & gas distributors, in the United States and Canada. The company is headquartered in Broadview, IL (www.cadillacproducts.com).
Winchester is a designer and manufacturer of connectivity products, including both connectors and cable assemblies, for the medical, military, energy & power, and ruggedized industrial markets. Since the acquisition of Winchester in June 2006 by Audax, the company has purchased Electrical Specialty Products (Spartanburg, SC) in July of 2012; Kings Electronics (Rock Hill, SC) in May of 2007; and Advanced Interconnect (Franklin, MA) in April of 2007. Winchester is based in Wallingford, CT (www.winchesterelectronics.com).
“Winchester is a leading provider of interconnect technologies worldwide. The acquisition of Clements expands Winchester’s product offering for ruggedized industrial applications. We will continue to grow the company through new product offerings, global expansion, and strategic add-on acquisitions,” said Oliver Ewald, Managing Director of Audax Group
The Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace and defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston, MA and New York, NY (www.audaxgroup.com).
Lincoln International advised Clements. K&L Gates served as counsel to Winchester.