PE-backed Winchester completes TRU acquisition

Winchester Electronics Corp., a portfolio company of Audax, has closed its buy of TRU Corp. No financial terms were disclosed. Headquartered in Peabody, Mass., TRU is a maker of RF connectors and cable assemblies.

PRESS RELEASE

MIDDLEBURY, Conn.–(BUSINESS WIRE)–Winchester Electronics Corporation (“Winchester”), a portfolio company of Audax Private Equity (“Audax”), announced it has completed the acquisition of TRU Corporation (“TRU”). Headquartered in Peabody, MA, TRU is a producer of high performance RF connectors and cable assemblies. Its products are used in the semiconductor, test and measurement, military and aerospace end markets. The acquisition of TRU expands Winchester’s presence in the RF interconnect market and enhances its manufacturing capabilities.
Winchester, based in Middlebury, Connecticut, is a designer and manufacturer of connectivity solutions, including both connectors and cable assemblies, for diversified end markets such as medical, military, energy and power, broadcast, and ruggedized industrial. Winchester is a global business with operations in the U.S., Mexico, China and Malaysia. Since Audax’ acquisition in June 2006, Winchester has completed nine add-on acquisitions.
Oliver Ewald, Managing Director at Audax Private Equity, said “Winchester is a leading provider of connectivity solutions to customers across the globe. The acquisition of TRU diversifies its capabilities and end market mix. We will continue to work with the Winchester team to build the business both domestically and abroad through new product introductions, global expansion, and strategic add-on acquisitions.”
Kevin Perhamus, CEO of Winchester, said “This is an exciting development for Winchester and our customers as we continue to build the company. TRU has a tremendous reputation for innovation, quality and customer service in the RF interconnect market.”
Stephen Eccles, General Manager of TRU, said “This transaction is a positive outcome for TRU. In joining Winchester, we will now be able to provide additional services and capabilities to our customers, while maintaining the standards of technology, quality and service that they have come to expect. We look forward to working with Kevin Perhamus and the Winchester team.”
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston, New York and Menlo Park, Audax has over $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt businesses. For more information visit the Audax Group website www.audaxgroup.com.

 

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