distributor of electronic components

Infinite Electronics Switches Sponsors

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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

Wynnchurch Building America II

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America II, a distributor of electronic components and a portfolio company of Wynnchurch Capital since October 2017, has acquired Advanced MP Technology.

Advanced MP is a global distributor of electronic components and a provider of supply chain services. The company specializes in hard-to-find as well as mature and obsolete electronic components, all of which they test and inspect in-house. Advanced MP has distribution facilities in the US (California), Hungary, and China along with sales and sourcing functions in 26 locations in the Americas, Europe, and Asia. The company, led by CEO Homey Shorooghi, was founded in 1978 and is headquartered in San Clemente, CA (www.advancedmp.com).

America II supplies an array of products that are used in applications across many end-markets including industrial controls and sensors, medical devices, data networks, internet-connected products and material handling/transportation equipment. The company has more than four billion parts (approximately 100,000 SKUs) that are in stock and ready to ship which, according to America II, makes it one of the world’s largest distributors of semiconductors and electronic components. America II’s product line includes batteries, cable assemblies, connectors, diodes, fuses and circuit breakers, LEDs, microcontrollers, microprocessors, resistors, sensors, switches and relays, transformers, voltage regulators. America II was founded in 1989 and is headquartered in St. Petersburg, FL with a 420,000 square-foot distribution facility. The company, led by CEO Mike Galinski, has additional offices in the UK, Germany, China, Japan, Singapore and Mexico (www.americaii.com).

“This combination will significantly expand our collective product offerings, services and geographic presence to better serve our customers worldwide and drive continued scale and growth in key markets,” said Jed Pecchioli, Chief Operating Officer of America II. “We are excited to join forces and leverage both of our capabilities to improve the overall value proposition we offer to our expanded global customer base.”

Wynnchurch makes investments in middle-market companies that have revenues of $50 million to $1 billion. Sectors of interest include aerospace & defense, automotive, building products, chemicals, food, logistics, energy services & equipment, environmental services, industrial products & services, metals & mining, and paper & packaging. The firm was founded in 1999 and is located in the Chicago suburb of Rosemont with additional offices in Los Angeles (El Segundo), and Toronto (www.wynnchurch.com).

© 2018 Private Equity Professional | September 21, 2018

Windjammer Sells Infinite RF to Genstar

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Windjammer Capital Investors has sold Infinite RF, a distributor of electronic components and cable assemblies, to Genstar Capital.

Infinite RF is a multi-channel, business-to-business direct marketer of radio frequency, microwave and fiber optic connectors, adapters, cables, and cable assemblies. The company’s products, sold under the Pasternack and Fairview brand names, are used in electronic instrumentation; military and aerospace electronics, telecommunications equipment; medical, industrial and transportation equipment; as well as computers, peripherals, and office equipment. Infinite RF has more than 50,000 customers located in 75 countries. The company, led by CEO Terry Jarnigan, is headquartered in Irvine, CA with additional facilities in Allen, TX and Shanghai, China (www.infiniterf.com) (www.pasternack.com) (www.fairviewmicrowave.com) (www.pasternack.cn).

Windjammer acquired Pasternack Enterprises through its third fund in February 2008. In 2010, it acquired Fairview Microwave creating Infinite RF as a result of the combination. During Windjammer’s ownership period, revenues more than doubled as the company transitioned from a traditional catalog-based direct marketing business to a multi-channel and e-commerce focused specialty supplier.

“We congratulate Terry and his team on successfully building the company, both organically and through acquisition,” said Jeff Miehe, a Managing Director of Windjammer. “Infinite RF has grown significantly and evolved to become a stronger and more innovative organization as a result of management and Windjammer’s collaborative efforts.”

“Windjammer has been a great partner during a period of significant growth and transformation for Infinite RF,” said Mr. Jarnigan. “Their growth oriented approach, coupled with strategic, financial and operational resources helped us to elevate our performance, product offering and service levels, ultimately driving significant revenue growth.

Windjammer makes control investments of $50 million to $200 million in middle market businesses with EBITDAs from $10 million to $50 million. Sectors of interest include niche manufacturing, value-added distribution and business services.  Windjammer is currently investing from its $726 million Windjammer Senior Equity Fund IV, which closed in March of 2013.  The firm was founded in 1990 and is based in Newport Beach, CA and Waltham, MA (www.windjammercapital.com).

According to Genstar, which has an experience investing in the industrial technology sector, future growth at Infinite RF will come from increased research and development in the RF space as well as from positive trends in automation and the “internet of things”. Rob Rutledge, a Genstar managing director, led the transaction.

Genstar, which had a final close in August 2015 of its seventh fund with $2 billion in commitments, invests from $50 million to $400 million in middle-market companies that have enterprise values from $50 million to $1 billion and EBITDAs greater than $15 million.  Genstar targets investments in the financial services, software, industrial technology, and healthcare industries.  The firm was founded in 1988 and is based in San Francisco (www.gencap.com).

© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 6-1-16