M&A Deal Summary

Francisco Partners and Shah Capital Partners Acquire C-MAC Aerospace

On October 1, 2004, private equity firms Francisco Partners and Shah Capital Partners acquired electronics company C-MAC Aerospace from Solectron

Acquisition Highlights
  • This is Francisco Partners’ 1st and Shah Capital Partners’ 1st transaction in the Electronics sector.
  • This is Francisco Partners’ 1st and Shah Capital Partners’ 1st transaction in the United Kingdom.
Investment Fate
  • C-MAC Aerospace was sold to a publicly-traded strategic buyer in 2012.

M&A Deal Summary

Date 2004-10-01
Target C-MAC Aerospace
Sector Electronics
Buyer(s) Francisco Partners
Shah Capital Partners
Sellers(s) Solectron
Deal Type Divestiture

Target

C-MAC Aerospace

Amersham, United Kingdom
C-MAC Aerospace dba C-MAC MicroTechnology is a leader in the design, manufacturing, and testing of high-performance, high-reliability ("HiRel") microcircuits and frequency control products. C-MAC is a qualified and recognized supplier in the industrial, communications, automotive, medical, and aerospace industries and is ideally positioned, through its products and technology service offering, to benefit from the organic growth and outsourcing trends across its global footprint. C-MAC is headquartered Amersham, Buckinghamshire, United Kingdom.

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Buyer(S) 2

Buyer

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.


DEAL STATS #
Overall 12 of 160
Sector: Electronics M&A 1 of 1
Type: Divestiture M&A Deals 6 of 31
Country: United Kingdom M&A 1 of 8
Year: 2004 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-21 OfficeTiger

New York, New York, United States

OfficeTiger is a global professional support services firm offering industry-focused, judgment-based services that support core functions of its clients in real time. One of the largest diversified BPO solution providers, OfficeTiger has four main lines of business, including Research & Analytics, Premedia, Financial Management and Transaction Processing Services. OfficeTiger creates, processes, and distributes mission-critical information for the world's largest investment banks, diversified financial institutions, legal firms, publishing houses, retail chains and Fortune 500 companies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-28 WebTrends

Portland, Oregon, United States

WebTrends is a provider of web analytics, software and solutions. WebTrends' customers consist of thousands of organizations worldwide, including more than half of the Fortune 500, which rely on WebTrends daily to measure and optimize their results. WebTrends is headquartered in Portland, Oregon.

Buy $94M
Buyer

Shah Capital Partners

Santa Clara, California, United States

Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Shah Capital Partners is a private investment firm focused on technology businesses. Specific areas of interest includes electronics, design services, semiconductors, storage, networking and related outsourcing, software and services. The Firm looks to invest in or acquire profitable companies and will consider a variety of transaction situations including buyouts, take privates, recapitalizations, acquisition financings, and turnarounds. Shah Capital Partners was formed in 2003 and is based in Santa Clara, California.


DEAL STATS #
Overall 2 of 3
Sector: Electronics M&A 1 of 2
Type: Divestiture M&A Deals 2 of 3
Country: United Kingdom M&A 1 of 1
Year: 2004 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-12 Smart Modular Technologies

Newark, California, United States

Smart Modular Technologies is a developer and manufacturer of DRAM and Flash-based modules and subsystems for computing, communications, embedded, and defense applications. Smart Modular Technologies was founded in 1988 and is based in Newark, California.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-14 TES Electronic Solutions SA

Langon, France

TES Electronic Solutions SA is a provider of IP-level building-block products, customized design and other engineering and manufacturing services for electronic components and systems for leading OEM companies in Europe.

Buy -

Seller(S) 1

SELLER

Solectron

Milpitas, California, United States

Category Company
Sector Electronics
DESCRIPTION

Solectron Corporation was a global electronics manufacturing company for original equipment manufacturers. It was the first electronics manufacturing services industry in 1977.


DEAL STATS #
Overall 4 of 4
Sector: Electronics M&A 1 of 1
Type: Divestiture M&A Deals 4 of 4
Country: United Kingdom M&A 1 of 1
Year: 2004 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-22 Stream International

Wellesley, Massachusetts, United States

Stream Global Services (formerly Global BPO Services) is a global provider of business process outsourcing, delivering a range of services, including technical support, customer service, sales and customer retention.

Sell -