M&A Deal Summary

GLV Acquires Nitronex

On June 26, 2012, private equity firm GLV acquired semiconductors company Nitronex from TPG

Acquisition Highlights
  • This is GLV’s 2nd transaction in the Semiconductors sector.
  • This is GLV’s 2nd transaction in the United States.
  • This is GLV’s 1st transaction in North Carolina.
Investment Fate
  • Nitronex was sold to a publicly-traded strategic buyer in 2014 for 26M USD.

M&A Deal Summary

Date 2012-06-26
Target Nitronex
Sector Semiconductors
Buyer(s) GLV
Sellers(s) TPG
Deal Type Secondary Buyout

Target

Nitronex

Morrisville, North Carolina, United States
Nitronex LLC is an innovative designer and manufacturer of gallium nitride (GaN) based RF solutions. Nitronex is developing gallium nitride on silicon (GaN-on-Si) semiconductor solutions using its proprietary SIGANTIC® manufacturing process. Nitronex products enable applications in the defense, communications, cable TV, and industrial & scientific markets.

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Buyer(S) 1

DESCRIPTION

Gaas Labs LLC is a private investment group focused on investing in and providing operational expertise to companies addressing the next generation of semiconductor and communications technology. The Group looks to partner with management teams and entrepreneurs and will consider opportunities throughout the US. Gaas Labs LLC is based in Santa Clara, California.


DEAL STATS #
Overall 2 of 2
Sector: Semiconductors M&A 2 of 2
Type: Secondary Buyout M&A Deals 1 of 1
State: North Carolina M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-11 Macom Technology Solutions

Lowell, Massachusetts, United States

Macom Technology Solutions supplies RF, microwave, and millimeter wave products that enable Internet and modern battlefield applications. Specialized in a broad catalog portfolio of technologies and products, the company serves diverse markets, including CATV, wireless and optical communications infrastructure, satellite, radar, automotive, industrial, medical, and mobile devices. Macom Technology Solutions was founded in 1950 and is based in Lowell, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-13 Nitronex

Morrisville, North Carolina, United States

Nitronex LLC is an innovative designer and manufacturer of gallium nitride (GaN) based RF solutions. Nitronex is developing gallium nitride on silicon (GaN-on-Si) semiconductor solutions using its proprietary SIGANTIC® manufacturing process. Nitronex products enable applications in the defense, communications, cable TV, and industrial & scientific markets.

Sell $26M

Seller(S) 1

SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 86 of 277
Sector: Semiconductors M&A 6 of 7
Type: Secondary Buyout M&A Deals 3 of 42
State: North Carolina M&A 2 of 5
Country: United States M&A 63 of 199
Year: 2012 M&A 8 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-11 iMDsoft

Düsseldorf, Germany

iMDsoft is a clinical information systems software provider. The Company’s products are designed to enhance care and improve financial performance throughout the hospital.

Buy $80M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-05 Taishin

Taipei, Taiwan

Taishin was established upon the completion of the merger between Dah An Commercial Bank and Taishin International Bank. The merger marks the very first voluntary bank merger in Taiwan's history. That same year, Taishin bills finance and Taiwan securities came under the umbrella of Taishin Financial Holdings. Taishin was incorporated in 1992 and is headquartered in Taipei, Taiwan.

Sell $182M