Investment Summary

Francisco Partners and Shah Capital Partners Exits C-MAC Aerospace

On March 23, 2012, Spectrum Control invested in electronics company C-MAC Aerospace from Francisco Partners and Shah Capital Partners

Investment Highlights
  • This is Spectrum Control’s 1st transaction in the Electronics sector.
  • This is Spectrum Control’s 1st transaction in the United Kingdom.

Investment Summary

Date 2012-03-23
Target C-MAC Aerospace
Sector Electronics
Investor(s) Spectrum Control
Sellers(s) Francisco Partners
Shah Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Kirkland & Ellis (Legal)

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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Investor(S) 1

Investor

Spectrum Control

Fairview, Pennsylvania, United States

Category Company
Founded 1993
Sector Electrical Equipment
Employees1,862
Revenue 226M USD (2014)
DESCRIPTION

Spectrum Control is a designer and manufacturer of high-performance components and subsystems for demanding RF / microwave and electromagnetic spectrum management applications. Spectrum Control provides a broad portfolio of mission-critical products to approximately 1,800 global customers supporting more than 200 programs. Spectrum Control was founded in 1993 and is headquartered in Fairview, Pennsylvania.


DEAL STATS #
Overall 4 of 6
Sector: Electronics M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
Country: United Kingdom M&A 1 of 1
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-30 Commercial Microwave Technology

Rancho Cordova, California, United States

Commercial Microwave Technology, Inc. is a manufacturer of RF and microwave filters to the satellite and commercial industries.

Buy $8M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-17 Spectrum Sensors and Controls

Akron, Ohio, United States

Spectrum Sensors and Controls, Inc. is a provider in the design and manufacture of custom temperature probes, high reliability encoders and inertial sensors.

Sell $51M

Seller(S) 2

SELLER

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 22 of 88
Sector: Electronics M&A 1 of 1
Type: Add-on Acquisition M&A Deals 13 of 55
Country: United Kingdom M&A 1 of 5
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-05 Ichor

Fremont, California, United States

Ichor is a global designer and manufacturer of process tools, gas delivery modules and chemical delivery modules sold to capital equipment manufacturers. Ichor Systems serves a variety of end markets, including semiconductors, LEDs (light emitting diode), data storage and alternative energy capital equipment. Ichor was founded in 1999 and is based in Fremont, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-06 Plex Systems

Auburn Hills, Michigan, United States

Plex Systems is the developer of Plex Online, a Cloud ERP solution for the manufacturing enterprise. Plex Online offers industry-leading features for virtually every department within a manufacturer, including Manufacturing Execution System (MES) and Quality Management System (QMS) for the shop floor, Supply Chain Management (SCM) for procurement, Enterprise Resource Planning (ERP) for finance and management, and Business Intelligence (BI) for executive management. Plex Online’s comprehensive functional coverage delivers a “shop floor to top floor” view of a manufacturer’s operations, enabling management to run its business at maximum efficiency.

Buy -
SELLER

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 2
Sector: Electronics M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-20 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.

Sell -