M&A Deal Summary

TE Connectivity Acquires American Sensor Technologies

On September 2, 2014, TE Connectivity acquired electronics company American Sensor Technologies from Main Street Capital

Acquisition Highlights
  • This is TE Connectivity’s 1st transaction in the Electronics sector.
  • This is TE Connectivity’s 6th transaction in the United States.
  • This is TE Connectivity’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2014-09-02
Target American Sensor Technologies
Sector Electronics
Buyer(s) TE Connectivity
Sellers(s) Main Street Capital
Deal Type Add-on Acquisition

Target

American Sensor Technologies

Mount Olive, New Jersey, United States
American Sensor Technologies, Inc. (“AST”) designs, develops, manufactures and markets state-of-the-art, high performance sensors incorporating Micro Electro Mechanical Structures (“MEMS”) and is rapidly becoming recognized as an innovative leader in the sensor industry. AST has developed and commercialized numerous pressure sensor product lines that are utilized in many industrial capacities and by numerous end markets. AST has received several awards for its innovation and technical development. The company is actively involved with multiple research projects related to the next generation of pressure and other sensors in the New Jersey area. AST also operates a subsidiary in Hong Kong that is utilized for sourcing and manufacturing purposes related to many of AST’s international customers.

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Buyer(S) 1

Buyer

TE Connectivity

Schaffhausen, Switzerland
Category Company
Founded 1941
Sector Electrical Equipment
Employees85,000
Revenue 16.0B USD (2023)
DESCRIPTION

TE Connectivity is a designer and manufacturer of products at the heart of electronic connections for industries including automotive, energy and industrial, broadband communications, consumer devices, healthcare, and aerospace and defense. TE Connectivity was founded in 1941 and is based in Schaffhausen, Switzerland.

DEAL STATS #
Overall 8 of 15
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 7 of 13
State (New Jersey) 1 of 1
Country (United States) 6 of 11
Year (2014) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-02 Seacon Group

Northfleet, United Kingdom

The SEACON group serves the military marine and sub-sea sectors for remotely operated vehicles (ROV) / autonomous underwater vehicles (AUV), oil and gas, environmental and oceanographic applications.

Buy $490M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-09 Measurement Specialties

Hampton, Virginia, United States

Measurement Specialties, Inc. designs and manufactures sensors and sensor-based systems to measure precise ranges of physical characteristics such as measuring pressure, linear/rotary position, force, torque, piezoelectric polymer film sensors, custom microstructures, load cells, vibrations and acceleration, optical absorption, humidity, gas concentration, gas flow rate, temperature, fluid properties and fluid level.

Buy $1.7B

Seller(S) 1

SELLER

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Main Street Capital Holdings is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $75 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital Corporation was formed in 1997 and is based in Houston, Texas.

DEAL STATS #
Overall 17 of 45
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 11 of 21
State (New Jersey) 1 of 1
Country (United States) 17 of 45
Year (2014) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-21 Mystic Logistics

South Glastonbury, Connecticut, United States

Mystic Logistics is a non-asset based third-party logistics provider that specializes in standard mail consolidation for large volume mailers in the United States. Mystic's value proposition is centered around taking advantage of economies of scale, optimal purchasing power, reduced transit times, and considerable discounts offered by the U.S. Postal Service for assisting in efficiently achieving the "last mile" of delivery service. Mystic Logistics was founded in 1989 and is headquartered in South Glastonbury, Connecticut.

Buy $16M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-09 Texas ReExcavation LC

Houston, Texas, United States

Texas ReExcavation LC is a provider of hydro excavation/vacuum excavation services. Hydro excavation is a process that utilizes pressurized water to break up and remove the soil via air conveyance (vacuum) into a debris tank, providing a non-destructive means to safely locate utilities and precisely excavate an area. T-Rex provides excavation services for a variety of industry sectors including, petrochemical/refinery, pipeline, municipal, utilities, construction, oil & gas, engineering, transportation, telecommunication, and environmental. T-Rex was founded in 2001 and is headquartered in Houston, Texas with three additional locations in Dallas, Odessa, and San Antonio, Texas.

Sell -
Mergr

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