M&A Deal Summary

Genstar Capital Acquires Abracon

On July 6, 2022, private equity firm Genstar Capital acquired technology hardware company Abracon from Riverside

Acquisition Highlights
  • This is Genstar Capital’s 1st transaction in the Technology Hardware sector.
  • This is Genstar Capital’s 98th transaction in the United States.
  • This is Genstar Capital’s 10th transaction in Texas.

M&A Deal Summary

Date 2022-07-06
Target Abracon
Sector Technology Hardware
Buyer(s) Genstar Capital
Sellers(s) Riverside
Deal Type Secondary Buyout
Advisor(s) Guggenheim Securities
Lincoln International (Financial)
Jones Day (Legal)

Target

Abracon

Bee Cave, Texas, United States
Abracon is a manufacturer of frequency control, signal conditioning, clock distribution and magnetic components. Abracon offers a wide selection of Quartz Timing Crystals, Crystal and MEMS Oscillators, Real Time Clocks, Antennas, Bluetooth Modules, Ceramic Resonators, SAW Filters and Resonators, Inductors, Transformers, Circuit Protection Components and Wireless RF Antennas. Abracon was founded in 1992 and is based in Bee Cave, Texas.

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Buyer(S) 1

Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


DEAL STATS #
Overall 106 of 112
Sector: Technology Hardware M&A 1 of 1
Type: Secondary Buyout M&A Deals 48 of 52
State: Texas M&A 10 of 11
Country: United States M&A 98 of 104
Year: 2022 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-13 Cerity Partners

New York, New York, United States

Cerity Partners is a provider of comprehensive financial management services to a diverse spectrum of High Net Worth (“HNW”) individuals and their families, businesses and their executives, and nonprofit organizations. Clarity Partners is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-30 Numerix

New York, New York, United States

Numerix is a provider of innovative capital markets technology solutions and real-time intelligence applications for trading and risk management. Numerix was founded in 1996 and is based in New York, New York.

Buy -

Seller(S) 1

SELLER

Riverside

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 181 of 207
Sector: Technology Hardware M&A 3 of 3
Type: Secondary Buyout M&A Deals 71 of 83
State: Texas M&A 13 of 15
Country: United States M&A 127 of 146
Year: 2022 M&A 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-29 Apollo Interactive

El Segundo, California, United States

Apollo Interactive is a full-service, digital performance marketing services company focused on the insurance and mortgage industry and one of the fastest-growing private companies. It serves insurance brokers, insurance carriers, mortgage lenders, and lead aggregators across Medicare, under-65 healthcare plans, life insurance, auto insurance, home insurance, mortgage, and pet insurance. Apollo Interactive was founded in 1995 and is based in El Segundo, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-12 WorkStride

New York, New York, United States

WorkStride is a facilitator of incentive, recognition and wellness programs. WorkStride provides a software platform that allows clients to administer, manage and track their programs to drive ROI. Using their proprietary universal gift card reward, participants in WorkStrides’ programs can select from hundreds of retailers and millions of products. WorkStride is based in New York city.

Sell -