M&A Deal Summary

Amphenol Acquires Trexon

On February 8, 2024, Amphenol acquired electrical equipment company Trexon from Audax Private Equity, Apogem Capital and PNC Mezzanine Capital

Acquisition Highlights
  • This is Amphenol’s 8th transaction in the Electrical Equipment sector.
  • This is Amphenol’s 18th transaction in the United States.
  • This is Amphenol’s 1st transaction in Ohio.

M&A Deal Summary

Date 2024-02-08
Target Trexon
Sector Electrical Equipment
Buyer(s) Amphenol
Sellers(s) Audax Private Equity
Apogem Capital
PNC Mezzanine Capital
Deal Type Add-on Acquisition

Target

Trexon

Macedonia, Ohio, United States
website
Trexon is a designer and specialty distributor of high performance, ruggedized wire, cable, connectors, and assembled products. TPC's highly engineered products transmit power and signal in critical applications such as robotic manufacturing systems and temporary power for auto plants, mines, factories, and other harsh industrial environments. Trexon was founded in 1979 and is based in Macedonia, Ohio.

Search 192,860 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Amphenol

Wallingford, Connecticut, United States

website


Category Company
Founded 1932
Sector Electronics
Employees91,000
Revenue 12.6B USD (2022)
DESCRIPTION

Amphenol is a producer of electronic and fiber optic connectors, cable and interconnect systems. Amphenol products are engineered and manufactured in the Americas, Europe and Asia and sold by a worldwide sales and marketing organization. The primary end markets for the Company's products are communication systems for the converging technologies of voice, video and data communications, industrial/automotive and military/aerospace applications. Amphenol was incorporated in 1932 and is based in Wallingford, Connecticut.


DEAL STATS #
Overall 26 of 26
Sector (Electrical Equipment) 8 of 8
Type (Add-on Acquisition) 22 of 22
State (Ohio) 1 of 1
Country (United States) 18 of 18
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-30 Carlisle Interconnect Technologies

St. Augustine, Florida, United States

Carlisle Interconnect Technologies is a designer and manufacturer of high performance wire and cable including optical fiber. Carlisle designs and produces products for harsh environments. Products include interconnect products such as contacts, connectors, cable assemblies, installation kits, ARINC trays, racks and shelf assemblies. Carlisle Interconnect Technologies is based in St. Augustine, Florida.

Buy $2.0B

Seller(S) 3

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 97 of 97
Sector (Electrical Equipment) 5 of 5
Type (Add-on Acquisition) 32 of 32
State (Ohio) 6 of 6
Country (United States) 92 of 92
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 Dobbs Tire & Auto Centers

High Ridge, Montana, United States

Dobbs Tire & Auto Centers is a tyre retailer and automotive aftermarket service company with a strong presence in the Midwestern United States. Dobbs Tire & Auto Centers was founded in 1976 and is based in High Ridge, Montana.

Buy -
SELLER

Apogem Capital

Chicago, Illinois, United States

website


Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.


DEAL STATS #
Overall 49 of 49
Sector (Electrical Equipment) 4 of 4
Type (Add-on Acquisition) 21 of 21
State (Ohio) 6 of 6
Country (United States) 49 of 49
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-05 TIPCO Technologies

Owings Mills, Maryland, United States

TIPCO is a value-added distributor of fluid conveyance and sealing solutions, operating from 30 strategic locations across the United States. The Company serves a variety of end markets including infrastructure, manufacturing, transportation, government, agriculture/forestry, and energy. TIPCO Technologies was founded in 1888 and is based in Owings Mills, Maryland.

Buy -
SELLER

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 48 of 48
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 14 of 14
State (Ohio) 3 of 3
Country (United States) 46 of 46
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-11 Elgin Fastener Group

Wheeling, Illinois, United States

Elgin Fastener Group is a manufacturer of short-run, high-quality specialty fasteners for a diverse range of niche industrial end markets. Elgin Fastener Group was founded in 2002 and is based in Wheeling, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-12 Mantaline

Mantua, Ohio, United States

Mantaline is a manufacturer of customized, extruded elastomeric profiles for the automotive, heavy truck, and industrial markets. Mantaline was formed in 1964 and is based in Mantua, Ohio.

Buy -