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/ tingraham@ascadvisors.com
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SOURCE Winchester Electronics Corporation