M&A Deal Summary

Smiths Interconnect Acquires TRAK Communications

On April 4, 2004, Smiths Interconnect acquired communications company TRAK Communications from Alcentra Capital and Veritas Capital for 112M USD

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

M&A Deal Summary
Date 2004-04-04
Target TRAK Communications
Sector Communications
Buyer(s) Smiths Interconnect
Sellers(s) Alcentra Capital
Veritas Capital
Deal Type Add-on Acquisition
Deal Value 112M USD

Target

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.

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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 1 of 2
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Florida) 1 of 1
Country (United States) 1 of 2
Year (2004) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-22 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.

Buy $185M

Seller(S) 2

SELLER

Alcentra Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 540M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Alcentra Capital Corporation is the direct investment arm of asset management firm Alcentra. Alcentra capital looks to provide equity and subordinated debt to middle-market companies throughout North America. The Firm looks to invest $5 to $15 million per transaction in profitable companies with $5 to $15 million of EBITDA. Sectors of interest include healthcare, government services, business services, and defense. Alcentra Capital Corporation was formerly known as BNY Mellon-Alcentra Mezzanine Partners. The Group was originally established in 1998 and is based in New York City.

DEAL STATS #
Overall 8 of 40
Sector (Communications) 2 of 2
Type (Add-on Acquisition) 2 of 19
State (Florida) 1 of 3
Country (United States) 8 of 38
Year (2004) 4 of 4
Size (of disclosed) 11 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-01 Access.1 Communications

New York, New York, United States

Access.1 Communications Corp. is a radio stations in New York, Louisiana, New Jersey and Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Cecilware

Long Island City, New York, United States

Cecilware, Inc. is a designer, manufacturer, and distributor of beverage dispensing, cooking, and countertop equipment for the commercial foodservice market.

Buy -
SELLER

Veritas Capital

New York, New York, United States
Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.

DEAL STATS #
Overall 2 of 27
Sector (Communications) 1 of 2
Type (Add-on Acquisition) 2 of 14
State (Florida) 1 of 1
Country (United States) 2 of 27
Year (2004) 1 of 1
Size (of disclosed) 13 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-22 Vertex

Madison, Mississippi, United States

Vertex delivers integrated turnkey lifecycle support from concept definition to engineering and manufacturing, through the end of life support of complex systems and platforms, Vertex offerings include all levels of aviation maintenance, worldwide contractor logistics support, systems engineering and integration, specialized onsite mission execution, high consequence training programs for defense and commercial customers, and integrated supply-chain solutions. Vertex is based in Madison, Mississippi.

Sell $650M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-29 McNeil Technologies

Springfield, Virginia, United States

McNeil Technologies is a provider of professional and technical services to the U.S. military and various government agencies involved in homeland security, intelligence, and law enforcement.

Buy -
Mergr

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