Private equity investment firm ClearLight Partners is to sell 100% of Switchcraft Holdco, Inc to HEICO Corporation. Financial terms of the transaction have not been disclosed.
Founded in 1946, Switchcraft is a premier designer and manufacturer of high-performance electronic connectors, cable assemblies, and other value-added products and systems used in diverse applications in the global electronics industry. Headquartered in Chicago, Illinois, the Company operates state-of-the-art manufacturing facilities in Chicago, Illinois, Villa Park, Illinois, and Inchon, Republic of South Korea.
Jay Shepherd, Partner at ClearLight, says: “Keith Bandolik, Dave Dunmead and the other senior managers at Switchcraft have done an excellent job building the Company since we invested in 2005. All of us at ClearLight wish them the best with their new partner, HEICO.”
Keith Bandolik, President and CEO, says: “We have enjoyed our partnership with ClearLight and appreciate the support and strategic guidance they have provided over the last six years.”
Michael S Kaye, Managing Partner at ClearLight, says: “Switchcraft has a great number of exciting growth prospects, and we are confident the management team will be successful in building the Company under HEICO’s ownership.”
Lincoln International LLC is acting as financial advisor to ClearLight and Switchcraft.
