M&A Deal Summary

Vishay Intertechnology Acquires HiRel Systems

On March 5, 2012, Vishay Intertechnology acquired electrical equipment company HiRel Systems from CHB Capital Partners and Northstar Capital for 85M USD

Acquisition Highlights
  • This is Vishay Intertechnology’s 2nd transaction in the Electrical Equipment sector.
  • This is Vishay Intertechnology’s 6th largest (disclosed) transaction.
  • This is Vishay Intertechnology’s 10th transaction in the United States.
  • This is Vishay Intertechnology’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2012-03-05
Target HiRel Systems
Sector Electrical Equipment
Buyer(s) Vishay Intertechnology
Sellers(s) CHB Capital Partners
Northstar Capital
Deal Type Add-on Acquisition
Deal Value 85M USD
Advisor(s) Lincoln International (Financial)
Davis Graham & Stubbs (Legal)

Target

HiRel Systems

Minnetonka, Minnesota, United States
HiRel Systems LLC is a designer and manufacturer of specialty electronic components. HiRel Systems designs and manufactures custom magnetic components and power supplies serving the high technology electronics industry.

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Buyer(S) 1

Buyer

Vishay Intertechnology

Malvern, Pennsylvania, United States

Category Company
Founded 1962
Sector Semiconductors
Employees23,500
Revenue 3.4B USD (2023)
DESCRIPTION
Entrance to Vishay's corporate headquarters in Malvern, Pennsylvania.
Entrance to Vishay's corporate headquarters in Malvern, Pennsylvania.

Vishay Intertechnology is a global manufacturer and supplier of discrete semiconductors and passive components. The Company supports the microprocessor chips and other integrated circuits (ICs) that coordinate and control the functions of electronic devices and equipment. Vishay Intertechnology was founded in 1962 and is based in Malvern, Pennsylvania.


DEAL STATS #
Overall 12 of 18
Sector (Electrical Equipment) 2 of 2
Type (Add-on Acquisition) 8 of 13
State (Minnesota) 1 of 1
Country (United States) 10 of 12
Year (2012) 1 of 1
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-28 Huntington Electric

Huntington, Indiana, United States

Huntington Electric, Inc., a manufacturer of quality resistor products, continues in growth mode and is looking to expand its distribution network.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-13 MCB Industrie SAS

Chateau Gontier, France

MCB Industrie SAS, provides tailored solutions to the specific requirements of the airborne and spatial systems, ground vehicles, railway rolling stocks, robotics and power converters (HVDC). MCB products are engineered with the focus of combining unparalleled electrical and mechanical behaviors in the most demanding environments, with an extended life span.

Buy -

Seller(S) 2

SELLER

CHB Capital Partners

Denver, Colorado, United States

Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 150M USD
Size Small
Type Sector Agnostic
DESCRIPTION

CHB Capital provides growth capital and makes equity investments in closely held and family-owned businesses. CHB looks to invest $3 to $15 million in companies with annual revenues $10 to $200 million. Broad industry sectors of interest include niche manufacturing, distribution, consumer products, and services. CHB avoids investing in real estate, construction, natural resources, start-ups, and turnarounds. The Firm will consider majority and minority positions. CHB Capital was formed in 1993 and is based in Denver, Colorado, with an additional office in Houston, Texas.


DEAL STATS #
Overall 6 of 10
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Minnesota) 1 of 2
Country (United States) 6 of 10
Year (2012) 1 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-10 Newline Products

Plano, Texas, United States

Newline Products, Inc. manufactures high quality visual display products (markerboards, tackboards and chalk boards) and is a distributor for numerous other product lines used in the education construction market. Newline Products, sells its products to contractors and builders of education facilities and other institutions. Newline operates in over thirty states in the U.S.

Buy $7M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-06 Valent Aerostructures

Kansas City, Missouri, United States

Valent Aerosturctures has offices, manufacturing plants and assembly facilities that are primarily located across the central United States – strategically positioned for convenient access by our customers and for more efficient shipping and receiving of materials and supplies. The locations are also within close proximity to one another, making it easier to manage and coordinate inter-location assembly projects.

Sell $237M
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 20 of 80
Sector (Electrical Equipment) 2 of 4
Type (Add-on Acquisition) 4 of 27
State (Minnesota) 4 of 8
Country (United States) 19 of 76
Year (2012) 1 of 2
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-01 Persante Health Care

Mt. Laurel, New Jersey, United States

Persante Health Care is a provider of sleep disorder diagnostic and therapeutic solutions in the United States, offering comprehensive outsourced sleep care programs to hospitals and physician practices through sixty-eight facilities in ten states with a strong presence in the northeast region of the United States. Persante Health Care was founded in 2012 and is based in Mt. Laurel, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-20 Gary Platt

Reno, Nevada, United States

Gary Platt is a designer, manufacturer, and marketer of specialty seating products sold primarily to the gaming industry. Gary Platt was founded in 1998 and is based in Reno, Nevada.

Buy -