Infinite Electronics Acquired by Warburg Pincus

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Infinite Electronics, a leading global supplier of electronic components serving the urgent needs of engineers through a family of highly-recognized and trusted brands, announced that it has been acquired by Warburg Pincus from Genstar Capital. The investment will support Infinite's geographic and product line expansion, entry into new, high-growth markets and enhanced digital capabilities. Terms of the transaction were not disclosed.  

Infinite Electronics offers a broad range of components, assemblies, and wired/wireless connectivity solutions, serving the aerospace, defense, industrial, government, consumer electronics, instrumentation, medical and telecommunications markets. Infinite's proprietary brands include Pasternack, Fairview Microwave, L-com, MilesTek, Aiconics, KP Performance Antennas, PolyPhaser, Transtector, RadioWaves, ShowMe Cables, INC Installs, Integra Optics, and NavePoint. 

"Infinite Electronics was created to serve as the definitive electronic components source for engineers in need, supporting our customers with urgent deadlines with the industry's broadest offering of products that are in stock and ready to ship same day. This investment will further strengthen and expand our industry-leading product portfolio, while enhancing our mission to provide our global engineering customer base with deep technical expertise and support. We are excited to partner with Warburg Pincus to accelerate the company's mission and strategy," said Penny Cotner, President and Chief Executive Officer of Infinite Electronics. "We would like to thank Genstar Capital for their close partnership with our team and for their valuable contributions and strategic insight over the years." 

Genstar has been investing in Industrial Technology businesses since inception. Current and former companies include Sonny's The Carwash Factory, Ohio Transmission Corporation, Clarience Technologies, BBB Industries, Tekni-Plex, Sphera, Power Products, Boyd, Pretium Packaging, Tecomet, Altra Industrial Motion, and MW Industries.

Rob Rutledge, Managing Director of Genstar Capital, commented, "Genstar's focus in the industrials sector is to invest in differentiated businesses in high growth end markets with multiple opportunities for value creation leveraging Genstar's expertise and capital. Since our investment in Infinite in 2016, we have supported numerous growth acceleration initiatives, including new product expansions and successfully completing six acquisitions. We are grateful for the partnership with management over the past few years and wish Penny and team best of luck in Infinite's next chapter of growth." 

Warburg Pincus has been a long-time, active investor in the industrials sector, with significant experience investing in suppliers of highly-engineered components as well as distributors, including TransDigm, Extant Aerospace, Scotsman, Sundyne, CPP, Duravant, and TriMark. 

"We look to partner with world-class management teams and support market-leading companies with multiple paths for growth. Infinite Electronics is uniquely positioned to grow both organically and through continued strategic acquisitions, with the opportunity to benefit from key secular trends including the adoption of IoT, 5G deployment, industrial automation, connected vehicles, and global data traffic growth," said Jeffrey Goldfaden, Managing Director, Head of Industrials, Warburg Pincus. "We are excited to partner with Penny and the entire Infinite Electronics team to accelerate the company's mission and strategy," added Charlie Redlick, Principal, Warburg Pincus.

Baird and Jefferies LLC served as financial advisors to Infinite and Genstar, and Weil, Gotshal & Manges served as legal counsel on the transaction. Cleary Gottlieb Steen & Hamilton LLP served as legal advisor for Warburg Pincus.