Winchester Electronics Corporation Announces the Acquisition of Tekna Seal
NORWALK, Conn., Oct. 3, 2016 /PRNewswire/ — Winchester Electronics Corporation ("Winchester"), a portfolio company of Snow Phipps Group ("Snow Phipps"), announced it has completed the acquisition of Tekna Seal, LLC ("Tekna Seal" or the "Company") from ARC Group Worldwide, Inc. (NASDAQ: ARCW). Headquartered in Minneapolis, MN, Tekna Seal is a producer of high performance hermetic connectors primarily used in the medical, military and aerospace end markets. The acquisition of Tekna Seal expands Winchester's hermetic connector product offering in the key markets that Winchester serves.
Winchester, based in Norwalk, CT, is a designer and manufacturer of connectivity solutions, including both connectors and cable assemblies, for diversified end markets including medical, military, aerospace, energy & power, broadcast, and ruggedized industrial. Winchester is a global business with operations in the U.S., Mexico, China and Malaysia.
Kevin Perhamus, CEO of Winchester, said "We are excited to announce our first acquisition since being acquired by Snow Phipps on June 30, 2016. The acquisition of Tekna Seal expands our hermetic product offering and supports our strategy of providing interconnect solutions in applications where failure is not an option. We welcome the strong team at Tekna Seal and look forward to working with them moving forward."
John Pless, Partner at Snow Phipps, said "The acquisition further establishes Winchester as a market leader of connectivity solutions to customers across the globe and is consistent with our goal of aggressively growing the business both organically and through acquisitions. We are confident that the Tekna Seal team and product portfolio are an excellent fit for Winchester’s business model and are excited about this addition."
Doug McCarron, General Manager of Tekna Seal, said "This transaction is an exciting step for Tekna Seal. In joining Winchester, we will now have access to resources with deep expertise in our industry. We look forward to working with the Winchester team."
About Winchester Electronics
Founded in 1941, Winchester is a leading provider of custom engineered interconnect solutions for diverse, growing end markets requiring high reliability and application specific expertise. Winchester’s world class design and engineering capabilities enable it to solve interconnect problems when downtime of the application can result in significant economic losses to the customer. The Company’s complex, custom connectors and engineered cable assemblies transmit power and data to numerous global, blue-chip OEMs. Winchester’s strategic global footprint, supported by nine centers of excellence, provide local engineering and sales support to its customers. For more information about Winchester, visit www.winchesterelectronics.com.
About Snow Phipps Group
Snow Phipps is a private equity firm focused on middle-market control investments, targeting platform companies with enterprise values ranging from $100 million to $500 million. The firm utilizes an operating partner model to invest across the industrials, services, and consumer industries and seeks value creation through an operationally focused strategy. To learn more about Snow Phipps, visit www.snowphipps.com.
Media Contacts
Mary Beth Grover/Taylor Ingraham, ASC Advisors, (203) 992-1230
mbgrover@ascadvisors.com
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