M&A Deal Summary

Hermetic Solutions Group Acquires Hi-Rel Group

On December 22, 2016, Hermetic Solutions Group acquired packaging company Hi-Rel Group from Main Street Capital Holdings and Barings Private Equity

Acquisition Highlights
  • This is Hermetic Solutions Group’s 3rd transaction in the Packaging sector.
  • This is Hermetic Solutions Group’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2016-12-22
Target Hi-Rel Group
Sector Packaging
Buyer(s) Hermetic Solutions Group
Sellers(s) Main Street Capital Holdings
Barings Private Equity
Deal Type Merger

Target

Hi-Rel Group

Norfolk, United Kingdom
Hi-Rel Group LLC is a provider of highly specialized hermetic packaging components used for mission-critical applications in the defense, optical networking, industrial and medical industries. Hi-Rel’s product offerings, which include lids, getters (absorbers), preforms, thermal spreaders and ring frames.

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Buyer(S) 1

Buyer

Hermetic Solutions Group

Trevose, Pennsylvania, United States

Category Company
Founded 2016
Sector Packaging
DESCRIPTION

Hermetic Solutions Group is a provider of advanced hermetic packaging and components designed to ensure critical electronic systems function reliably in demanding environments where it is essential to control for factors such as weight, space, vibration, temperature, moisture and off-gassing. Hermetic Solutions Group was founded in 2016 and is based in Pennsylvania, United States.


DEAL STATS #
Overall 3 of 4
Sector: Packaging M&A 3 of 3
Type: Merger M&A Deals 3 of 3
Country: United Kingdom M&A 1 of 1
Year: 2016 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-22 Pacific Aerospace & Electronics

Wenatchee, Washington, United States

Pacific Aerospace & Electronics, Inc. is an integrated manufacturer of hermetic electronic packages and interconnect solutions for leading defense, medical, energy and space companies. The company specializes in using unique materials and manufacturing processes to bring technically demanding custom product designs to market by optimizing for size, weight, thermal conductivity and electronic performance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Cristek Interconnects

Anaheim, California, United States

Cristek Interconnects, Inc. is a manufacturer of specialty interconnect products and assemblies. Cristek offers a comprehensive solution for hermetic packages, specialty connectors, cable assemblies, headers, lids, windows, thermal management materials, vacuum products, preforms, and laser systems and services. Cristek Interconnects was founded in 1985 is based in Anaheim, California.

Buy -

Seller(S) 2

SELLER

Main Street Capital Holdings

Pittsburgh, Pennsylvania, United States

Investor Investor


Category Private Equity Firm
Founded 1994
Size Small
Type Sector Agnostic
DESCRIPTION

Main Street Capital Holdings is a private equity firm that acquires profitable, growth-oriented companies located in the US. Areas of interest include electronic manufacturing services, food, homeland security, metallic alloy parts manufacturers, niche manufacturing, and value-added distribution. Prospective companies should have EBITDA of at least $2 million. Main Street looks to invest $3 to $25 million per transaction in businesses valued up to $125 million. The Firm prefers control situations and will not invest in start-ups, turnarounds, commodities, retail, or restaurants. Main Street Capital Holdings is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 8 of 13
Sector: Packaging M&A 1 of 1
Type: Merger M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2016 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-30 Nabco Systems

Canonsburg, Pennsylvania, United States

Nabco Systems LLC is the manufacturer and marketer of homeland security solutions, which provide protection from biological, chemical, explosive, and radiological threats. Nabco Systems was founded in 1980 and is based in Canonsburg, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Sajar Plastics

Middlefield, Ohio, United States

Sajar Plastics, Inc. is a gas-assist injection molder company that supplies complex OEM parts for the medical, banking, consumer durables, and technology end-markets. The company utilizes three main injection molding processes: straight/standard, structural foam, and gas assist molding. Sajar Plastics was founded in 1949 and is based in Middlefield, Ohio.

Sell -
SELLER

Barings Private Equity

Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 16 of 39
Sector: Packaging M&A 3 of 3
Type: Merger M&A Deals 1 of 1
Country: United Kingdom M&A 2 of 3
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-10 Team Drive-Away

Olathe, Kansas, United States

Team Drive-Away, Inc. is a non-asset-based commercial vehicle logistics provider specializing in matching professional drivers with moves of used and new heavy-haul Class 8 trucks for sellers and buyers as well as moves to reposition and optimize fleets. Team Drive-Away was founded in 2007 and is based in Olathe, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-10 SummitReheis

Huguenot, New York, United States

SummitReheis is a high quality, high margin specialty chemicals platform that produces a range of critical active ingredients and materials tailored for use in personal care, pharmaceutical and dental products. SummitReheis' anti-perspirant actives business (more than 60 per cent. of its sales) is the global leader in the manufacture and sale of active ingredients for anti-perspirants and has long standing relationships with key consumer product companies across the Americas, Europe and Asia.

Sell $360M