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M&A Deal Summary

TruArc Partners Acquires Winchester Interconnect

On July 11, 2016, private equity firm TruArc Partners acquired electrical equipment company Winchester Interconnect from Audax Private Equity

Acquisition Highlights
  • This is TruArc Partners’ 1st transaction in the Electrical Equipment sector.
  • This is TruArc Partners’ 20th transaction in the United States.
  • This is TruArc Partners’ 1st transaction in Connecticut.
Investment Fate
  • Winchester Interconnect was sold to a publicly-traded strategic buyer in 2018.

M&A Deal Summary
Date 2016-07-11
Target Winchester Interconnect
Sector Electrical Equipment
Buyer(s) TruArc Partners
Sellers(s) Audax Private Equity
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)
Kirkland & Ellis (Legal)

Target

Winchester Interconnect

Wallingford, Connecticut, United States
Winchester Interconnect is a provider of custom engineered interconnect solutions for diverse, growing end markets requiring high reliability and application specific expertise. Winchester designs and manufactures RF coaxial, board-to-board and power interconnects, as well as cable assemblies, for the telecommunications, computer, and test & measurement industries.

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Buyer(S) 1

Buyer

TruArc Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

TruArc Partners is a private equity firm that invests in small to mid-market companies throughout North America. The Firm seeks to invest $50 to $150 million in companies valued between $100 and $500 million. TruArc Partners will consider a variety of transaction types, including leveraged acquisitions, build-ups, recapitalizations, restructurings and growth equity commitments. TruArc Partners was formerly known as Snow Phipps Group. The Firm was established in 2005 and is based in New York, New York.

DEAL STATS #
Overall 20 of 34
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 11 of 17
State (Connecticut) 1 of 2
Country (United States) 20 of 33
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-23 ECRM

Solon, United States

ECRM is an integrated marketing services, software, and data provider serving consumer product manufacturers and retailers. ECRM lends efficiency to the buying and selling process between consumer product manufacturers and retailers by operating a portfolio of highly focused, technology-enabled purchasing events. These events are enabled by ECRM’s proprietary, mobile-optimized software suite MarketGate, which streamlines interactions between trading partners before, during and after events. ECRM was founded in 1994 and is based in Solon, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 Laureate

Miami, Florida, United States

Laureate is a provider of higher education. The company’s network of 60 accredited campus-based and online universities offers undergraduate and graduate degree programs to more than 740,000 students across 29 countries. Laureate offers more than 130 career-focused, undergraduate, master’s, and doctoral degree programs in fields including architecture, art, business, culinary arts, design, education, engineering, health sciences, hospitality, information technology, law, and medicine. Laureate was founded in 1989 and is based in Miami, Florida.

Sell -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 49 of 103
Sector (Electrical Equipment) 2 of 5
Type (Secondary Buyout) 23 of 56
State (Connecticut) 3 of 3
Country (United States) 47 of 98
Year (2016) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-22 Integrated Supply Network

Lakeland, Florida, United States

Integrated Supply Network is a supplier and distributor that sells automotive tools, equipment, and related supplies through an extensive distribution network to automotive mechanics and technicians. ISN offers manufacturers and customers an international network of warehouses and a broad array of products, backed by customer service leadership, innovative use of technology, and multi-step pull-through marketing capabilities. ISN was founded in 1997 and is based in Lakeland, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-26 RelaDyne

Cincinnati, Ohio, United States

RelaDyne is a distributor of lubricants, fuels & equipment reliability services to the commercial, industrial, and automotive markets. RelaDyne’s distribution platform spans more than 90 locations serving customers across the Central, Mid-Atlantic, and Southern U.S. RelaDyne was founded in 1982 and is based in Cincinnati, Ohio.

Buy -
Mergr

Product

Company

Legal