The acquisition expands Micross’ high-reliability power management solution capabilities
MELVILLE, NY, January 10, 2023 /PRNewswire/ — Micross Components, Inc. (“Micross” or the “Company”), a leading provider of high-reliability microelectronic products and service solutions for aerospace, defense, aerospace, medical and industrial applications and a portfolio company of Behrman Capital, today announced the signing of a definitive agreement to acquire the high-reliability DC-DC converter business (“Business”) Infineon Technologies AG (FSE: IFX /OTCQX: IFNNY), a global leader in semiconductor manufacturing in energy systems and IoT. The deal is expected to close in the first quarter of calendar year 2023.
Headquarters in San Jose, California with object in Copenhagen, Denmark, Business offers high-reliability DC-DC converters, including hybrid and custom board-based power products for aerospace, strategic defense, aerospace and other high-reliability customers. The company designs and manufactures its own power solutions that work in the harshest environments.
The Micross acquisition – the eighth owned by Behrman Capital and the fourth since the fund’s February 2022 follow-on transaction – continues to build on strategic priorities for the company. The addition of Infineon’s high-reliability DC-DC converter business expands Micross’ offering of power management solutions backed by a high degree of intellectual property. The acquisition also expands Micross’ geographic presence in the US and Europe and the company’s presence in the fast-growing end market space, better positioning the company for future growth opportunities.
Vince Buffapresident and CEO of Micross, said: “We are thrilled to partner with this experienced team that further expands the design capabilities of the Micross team. The acquisition brings significant proprietary IP around power management, combined with state-of-the-art manufacturing capabilities and a product portfolio that is industry-leading in the market to advance innovative solutions. We will be better positioned to produce an even wider range of high-quality products for our customers. Together, we plan to pursue a number of compelling opportunities to further realize our exciting growth prospects, all while maintaining excellent quality and service for our customers. “
Simon LonerganManaging Partner of Behrman Capital, said: “This acquisition represents an extremely strong strategic fit for Micross, as the company continues to build its portfolio of high-reliability products to better serve its customer base. The addition of Infineon’s DC-DC converter business further differentiates Micross’ platform and adds significant IP to the company’s leadership position as a comprehensive source of supply for high-reliability electronic products and services. We look forward to continuing to work with management to identify additional opportunities to drive growth at Micross.”
Micross is a leading global supplier of mission-critical microelectronic components and services for the high-reliability markets. Micross offers customers a wide range of product and service solutions, including die & wafer services, advanced interconnect technology, custom packaging and assembly, component exchange services, electrical and environmental testing, and other high reliability products and services. In business for more than 40 years, Micross’ extensive high-reliability capabilities serve the aerospace, defense, aerospace, medical, and industrial markets, among others. Micross has the procurement, packaging, assembly, engineering, testing and logistics expertise needed to support applications throughout the program lifecycle. For more information about Micross, visit www.micross.com.
About Behrman Capital
With headquarters in New York CityBehrman Capital was founded in 1991 by Grant G. i Darryl G. Behrman. The company invests in management buyouts, increasing financial leverage and recapitalization of established growing companies. The company’s investments are focused on three industries: defense and aerospace, health services, and specialized manufacturing and distribution. Since its foundation, the company has risen 4.0 billion dollars and is currently investing from its sixth fund.
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon promotes decarbonization and digitalization with its products and solutions. The company has approximately 56,200 employees worldwide and generated revenue of approximately €14.2 billion in fiscal year 2022 (ending September 30). Infineon is listed on the Frankfurt Stock Exchange (ticker: IFX) and on NOW on the OTCQX International over-the-counter market (ticker: IFNNY). Additional information is available at www.infineon.com.
Chris Stabiledirector of corporate marketing communications
SOURCE Micross Components