Hermetic Solutions, a portfolio company of Windjammer Capital, has acquired FilConn, a manufacturer of specialty connectors, from PEI-Genesis.
FilConn specializes in filtered, electromagnetic pulse (EMP) suppression, and custom connectors used in aerospace and military applications as well as in medical, transit and oil & gas applications. The company operates a 20,000 sq.-ft. facility near Phoenix in Chandler, Arizona.
FilConn was founded in 2003 and acquired by PEI-Genesis, a Philadelphia-based distributor of harsh environment connectors, in 2016. With the close of the sale to Hermetic Solutions, PEI-Genesis has agreed to continue as a distributor of FilConn’s products.
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. Windjammer acquired HSG in February 2019 from Shoreview Industries.
HSG’s products – sold under the Hi-Rel, Pacific Aerospace & Electronics (Pacaero), Litron, Sinclair and Cristek Interconnects 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.
“We are very excited to have FilConn join the HSG family of brands,” said Mr. Barclay. “As an industry leader in highly engineered connector solutions for mission-critical applications, FilConn augments our specialty interconnect initiative and further enhances HSG’s core value proposition.”
The acquisition of FilConn is the second add-on acquisition completed by HSG in the past nine months and follows the December 2020 buy of Cristek Interconnects, a California-headquartered maker of electronic connectors used in defense and aerospace applications that specializes in nano-miniature and micro-miniature connectors.
“FilConn is a strategic addition to HSG’s interconnect solutions offering and representative of the type of unique, differentiated and well-positioned franchise we seek to acquire,” said Craig Majernik, a managing director at Windjammer. “Our M&A strategy is focused on expanding HSG’s suite of highly engineered performance and protection solutions designed to ensure mission-critical electronic systems in aerospace and defense, medical and industrial applications function reliably in extreme environments.”
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.
© 2021 Private Equity Professional | October 14, 2021
