Tri-Star Electronics International, a portfolio company of Brockway Moran & Partners, has been acquired by an affiliate of Carlisle Companies Incorporated for $285 million. Tri-Star is a manufacturer of electronic interconnect components and assemblies for commercial aerospace, defense and industrial applications
Harris Williams & Co., premier middle market investment bank, announces that Tri-Star Electronics International, Inc. (Tri-Star), a portfolio company of Brockway Moran & Partners, has been acquired by an affiliate of Carlisle Companies Incorporated (Carlisle; NYSE:CSL) for $285 million. The transaction was led by Jon Nemo, Chris Rogers, Chris Smith and Mike Rohman from the firm’s Aerospace, Defense & Government Services (ADG) Group, along with Darwin Olympia from the firm’s Richmond office. Harris Williams & Co. acted as the lead advisor to Tri-Star.
“Brockway Moran & Partners and Harris Williams & Co. have a long history of working together and we are excited to represent them in the sale of Tri-Star to Carlisle. Tri-Star is a market leader in high-reliability electronic components for aerospace, defense, and industrial applications and represents a strong strategic fit for Carlisle,” said Jon Nemo, a managing director and head of the ADG Group at Harris Williams & Co.
Chris Rogers, a director in Harris Williams & Co.’s ADG Group, commented, “Companies with strong and differentiated market positions in commercial aerospace are commanding high levels of interest from strategic buyers. We expect this trend to continue as buyers look to benefit from the long-term visibility and growth throughout the global commercial aerospace market.”
Tri-Star, headquartered in El Segundo, CA, is a leading manufacturer of electronic interconnect components and assemblies for commercial aerospace, defense and industrial applications. As a supplier to most of the world’s leading aerospace, avionics and electronics OEMs, Tri-Star’s products are located on virtually every aircraft platform worldwide. The company operates three facilities on the West Coast and in Europe and employs more than 400 people.
Brockway Moran & Partners is a private equity firm with more than $1.3 billion of capital under management. The firm acquires growth-oriented middle market companies valued between $50 million and $300 million in partnership with exceptional management teams. Brockway Moran & Partners focuses on businesses with significant growth opportunities through internal expansion, industry consolidation or innovative business strategies. The principals of the firm have a record of productively working with management teams to build companies into larger and more diverse enterprises. Brockway Moran & Partners invests in a broad spectrum of industries with significant experience in consumer, industrial and service businesses. Since 1998, the firm has completed over 70 acquisitions.
Carlisle is a global diversified company that designs, manufactures and markets a wide range of products that serve a broad range of niche markets including commercial roofing, energy, agriculture, lawn and garden, mining and construction equipment, aerospace and electronics, dining and food delivery and healthcare. Carlisle’s group of decentralized operating companies led by entrepreneurial management teams brings innovative product solutions to solve the challenges their customers face. With 11,000 employees worldwide, Carlisle generated $2.5 billion in net sales in 2010, and is focused on continuously improving the value of the Carlisle brand by developing the best products, insuring the highest quality and providing unequaled customer service in the many industries the company serves.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier middle market advisor with a two-decade legacy of sell side excellence serving clients worldwide. The firm is focused exclusively on the middle market and provides sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
The firm’s ADG Group offers strategic advice to a global base of leading aerospace, defense, and government services clients. For more information about our efforts in ADG, contact Jon Nemo at +1 (267) 675-5900 or Chris Rogers at +1 (804) 648-0072.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorized and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business in the U.S. and Europe, respectively.