NewSpring Capital, through its dedicated mezzanine fund, has made a $14.3 million investment in Lynn Electronics. The new capital will be used to fund an expansion of the company’s operational and manufacturing capabilities.
Lynn Electronics provides manufacturing, assembly and distribution services through two business divisions; Commercial and Government. The Commercial division is a provider of data and telecommunications products to companies operating in the communications and data industries. The Government division serves the US Department of Defense through project management, packaging, ordering, and logistic services to deliver government specifications on a variety of contracts.
The company’s products – offered through both divisions – include copper and fiber optic cabling, telephone cords and cordage, slim-line high density patch cords, audio/video cables, PC and data cables, coaxial cables and fiber optic pigtails, patch cords, jumpers and multi-strand assemblies. Lynn also offers a full line of high speed Ethernet and Gigabit media converters, switches, rack mount chassis, attenuators, transceivers and associated hardware and components.
“With this commitment by NewSpring, we look forward to expanding both the commercial and government sides of our business. This opportunity allows us to work towards expanding our geographical presence on the commercial side and enhancing our automation feature on the government side,” said Doron Phillips, the President of Lynn Electronics.
Lynn Electronics was founded in 1964 and is headquartered near Philadelphia in Ivyland, PA. The company also has a satellite warehouse in Pompano Beach, FL (www.lynnelec.com).
“Lynn Electronics has a strong position in the commercial and government sectors,” said Anne Vazquez, a NewSpring Partner. “We’re excited to work with Doron and the management team to capitalize on their expansion goals and further their already strong position in those sectors.”
NewSpring Capital is a provider of private equity capital through a family of funds including NewSpring Ventures, NewSpring Health, and NewSpring Mezzanine. The firm has offices near Philadelphia in Radnor, PA; near Baltimore in Towson, MD; and in Chicago (www.newspringcapital.com).
Last month, NewSpring Capital held a final close of its third mezzanine fund, NewSpring Mezzanine Capital III, LP, at $257.4 million. The firm’s target for this fund had been $200 million.
© 2017 Private Equity Professional | April 18, 2017
