Vance Street Capital, a Los Angeles-based private equity firm, has sold Micross Components, a provider of specialty electronic components, to Insight Equity, a private equity firm.
Terms of the transaction have not been disclosed.
Vance Street acquired a majority interest in Micross Components in 2009 and grew the company’s revenue both organically and through the integration of two acquisitions – Chip Supply in 2010 and Ditronix in 2011. These acquisitions bolstered the company’s capabilities, allowed it to enter new markets and provided significant cost-saving opportunities. During this time period, Micross also consolidated all of its sales and marketing efforts under the Micross brand and instituted a number of operational initiatives that increased plant utilisation and achieved additional cost savings.
The transaction with Insight Equity will be Vance Street’s second sale from its current fund.
“Working in conjunction with Micross’ talented management team, we successfully grew the business and helped the company achieve its objectives,” says Richard Crowell (pictured), partner at Vance Street. “As a result, Micross is one of the most diversified players in the industry and will no doubt continue to expand and gain market share.”
Lincoln International acted as the exclusive financial advisor to Micross. O’Melveny & Myers acted as legal counsel to Micross.
