Oaktree Acquires Pulse Electronics

Oaktree Acquires Pulse Electronics

pulse nf1Publicly-traded Pulse Electronics has entered into an agreement to be acquired by Oaktree Capital Management for $17 million in cash. Upon closing of the transaction, Pulse will become a private company and will continue to be led by its Chief Executive Officer Mark Twaalfhoven. The transaction is expected to close sometime before the end of the second quarter.

Bruce Karsh nf1“We are excited about the opportunity to support and work closely with Mark and the management team as they execute on Pulse’s plans and goals. We look forward to leveraging the company’s strengths as we move into the next phase for Pulse,” said Bruce Karsh, Co-Chairman and Chief Investment Officer of Oaktree Capital.

Pulse Electronics produces and sells electronic components and modules that are used in the wireless and wireline communications, power management, military/aerospace and automotive industries. Products include antennas, filters, transformers, splitters, chokes, power transformers, current and voltage sensors, and ignition coils. Pulse sells its products to original equipment manufacturers, original design manufacturers, and electronic contract equipment manufacturers through its direct sales force.  The company was formerly known as Technitrol and changed its name to Pulse Electronics Corporation in November 2010. Pulse Electronics is based in San Diego (www.pulseelectronics.com).

Mark Twaalfhoven nf1“Since I assumed the CEO role three months ago, I’ve been inspired by the entire organization’s commitment to our goal of providing our customer base with the highest quality products and capabilities,” said Mark Twaalfhoven, CEO of Pulse.  “This transaction will strengthen Pulse’s ability to execute on this goal by enabling critical investments to further enhance our application-specific products and manufacturing base, as well as optimizing our corporate structure.”

Oaktree Capital Management makes investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities.  The firm has over 900 employees and $91 billion in assets under management and is headquartered in Los Angeles (www.oaktreecapital.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 3-4-15

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