M&A Deal Summary

Smiths Interconnect Acquires Interconnect Devices

On March 22, 2010, Smiths Interconnect acquired electrical equipment company Interconnect Devices from Milestone Partners, Quilvest Capital Partners and Manulife Investment Management for 185M USD

Acquisition Highlights
  • This is Smiths Interconnect’s 1st transaction in the Electrical Equipment sector.
  • This is Smiths Interconnect’s largest (disclosed) transaction.
  • This is Smiths Interconnect’s 2nd transaction in the United States.
  • This is Smiths Interconnect’s 1st transaction in Kansas.

M&A Deal Summary
Date 2010-03-22
Target Interconnect Devices
Sector Electrical Equipment
Buyer(s) Smiths Interconnect
Sellers(s) Milestone Partners
Quilvest Capital Partners
Manulife Investment Management
Deal Type Add-on Acquisition
Deal Value 185M USD
Advisor(s) Houlihan Lokey (Financial)
Troutman Pepper Hamilton Sanders (Legal)

Target

Interconnect Devices

Kansas City, Kansas, United States
Interconnect Devices, Inc. (IDI) designs, manufactures and sells connectors, interfaces and spring contact probes to aerospace, military, electronic, medical, semiconductor, printed circuit board, radio, telephone and automotive companies. IDI’s products are specialized and the company focuses on solutions for applications that require highly reliable and precise electrical connections.

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Buyer(S) 1

Buyer

Smiths Interconnect

Thousand Oaks, California, United States
Category Company
Sector Communications
DESCRIPTION

Smiths Interconnect, a division of Smiths Group, is a technically differentiated electronic components and sub-systems providing signal, power and microwave solutions.

DEAL STATS #
Overall 2 of 2
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Kansas) 1 of 1
Country (United States) 2 of 2
Year (2010) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-04 TRAK Communications

Tampa, Florida, United States

TRAK communications is a designer, developer and manufacturer of products used in commercial wireless, satellite, and defense communications applications. The company's products are sold into the cellular communication infrastructure markets.

Buy $112M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-02 Smiths Interconnect - Microwave Telecoms Business

United States

Smiths Interconnect - Microwave Telecoms Business is comprised of the well-recognized solutions-driven Kaelus, PolyPhaser, Transtector Systems and RadioWaves brands. Each of these companies provides a unique set of capabilities and product offerings deployed in critical communications networks worldwide, while also setting global standards through innovation and customer service. Collectively, SMT is committed to ensuring reliable communications network performance from the tower to the core. Smiths Interconnect's Microwave Telecoms brands (KAELUS, POLYPHASER, TRANSTECTOR and RADIO WAVES) provide high reliability cell site radio frequency conditioning, test and measurement and surge protection solutions for a variety of industrial and commercial applications.

Sell -

Seller(S) 3

SELLER

Milestone Partners

Villanova, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 650M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Milestone Partners is a lower middle-market private equity firm specializing in investments in manufacturing, distribution, and service companies. Milestone looks for businesses valued up to $250 million with EBITDA of $5 to $50 million. The Firm's target revenue size is $10 to $250 million. Milestone prefers companies with growth potential and proven management. The Firm will not invest in businesses in high cyclical industries, with low barriers to entry, or have a high reliance on technology. Milestone Partners was formed in 1995 and is based in Villanova, Pennsylvania.

DEAL STATS #
Overall 5 of 28
Sector (Electrical Equipment) 1 of 2
Type (Add-on Acquisition) 2 of 11
State (Kansas) 1 of 2
Country (United States) 5 of 26
Year (2010) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-15 Mariner Finance

Nottingham, Maryland, United States

Mariner Finance is a multichannel consumer lender in the Unites States offering high touch, relationship-based lending to a near-prime credit customer base through direct personal loans, sales finance loans, home improvement loans and auto loans. Mariner Finance was founded in 2002 and is based in Nottingham, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-30 LEARN Behavioral

Burbank, California, United States

LEARN Behavioral is a network of providers serving children with autism and other special needs. LEARN specializes in behavioral health treatment based on the science of Applied Behavior Analysis and is committed to providing programs and services that are family-focused, community-minded, and delivered with the highest clinical integrity. The LEARN team delivers more than two million hours of services annually and comprises more than 3,000 passionate professionals dedicated to nurturing each child’s personal best. LEARN Behavioral was founded in 2007 and is based in Burbank, California.

Buy -
SELLER

Quilvest Capital Partners

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1972
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Quilvest Capital Partners is the private equity investment arm of asset management firm Quilvest. Quilvest Capital Partners invests in private equity and debt funds as well as makes direct investments. The direct investment group looks for opportunities in the US, Europe, and 'opportunistically' in Asia with a preference for buyout, growth capital, and venture transactions. Quilvest Capital Partners will consider both minority and majority positions. Quilvest Capital Partners was established in 1972 and is based Paris.

DEAL STATS #
Overall 16 of 68
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 4 of 27
State (Kansas) 1 of 1
Country (United States) 4 of 34
Year (2010) 2 of 5
Size (of disclosed) 14 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-01 Vanksen

Bertrange, Luxembourg

Vanksen is a digital-native agency with expertise in social media, SEO, social data and e-reputation, strategic consulting, and digital implementation. Vanksen was founded in 2001 and is based in Bertrange, Luxembourg.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-25 ViaWest

Greenwood Village, Colorado, United States

ViaWest, Inc. is a provider of data center space, power and managed services to enterprise and SME customers in 16 data centers. Provides first-class colocation and managed services exemplified by strong revenue and profitability growth. ViaWest, Inc. was founded in 1999 and is based in Greenwood Village, Colorado.

Sell -
SELLER

Manulife Investment Management

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1998
Size Large
Type Sector Agnostic
DESCRIPTION

Manulife Investment Management is a private investment group that provides mezzanine as well as non-controlling equity capital to middle-market businesses. Manulife Investment's target investment size is $10 to $50 million per transaction. The Group prefers opportunities located in the US. Manulife Investment Management was established in 1998 and maintains offices in Boston and New York City.

DEAL STATS #
Overall 2 of 19
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 7
State (Kansas) 1 of 1
Country (United States) 2 of 18
Year (2010) 1 of 2
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-01 KeyPoint Government Solutions

Loveland, Colorado, United States

KeyPoint Government Solutions is a mission-critical provider of specialized investigative services to a broad range of U.S. Federal Government organizations spanning the civilian, defense and intelligence sectors.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-01 Trivium Packaging

Amsterdam, Netherlands

Trivium Packaging will serve a diverse range of major multinational, regional and local customers operating in a wide array of end markets, including food, seafood, pet food, nutrition, beauty, and personal care, household care and premium beverages. Trivium Packaging is based in Amsterdam, Netherlands.

Buy -
Mergr

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Legal