Genstar acquires manufacturer Abracon

• Tony Roybal, who joined Abracon in 2021 as chief operating officer, has been appointed president and CEO
• Weil, Gotshal & Manges served as legal counsel to Genstar on the deal while Guggenheim Partners, Lincoln International, and Jones Day advised Abracon
• Currently, Genstar has approximately $35 billion of assets under management

Genstar has acquired Abracon LLC, a Texas-based provider of timing devices, RF & antenna, and inductor & connectivity solutions. No financial terms were disclosed.

As a result of this transaction, Mike Calabria is now executive chairman. Tony Roybal, who joined the company in 2021 as chief operating officer, has been appointed president and CEO.

On the acquisition, Rob Rutledge, managing director at Genstar Capital, said in a statement: “Abracon is uniquely positioned to drive industry-leading product breadth and fulfillment speeds to grow its footprint and deliver products for global platforms in all critical markets around the world. The management team has done an excellent job building a strong reputation and loyal customer base, and we are excited to support the company’s organic and inorganic growth strategy.”

Weil, Gotshal & Manges served as legal counsel to Genstar in the transaction while Guggenheim Partners, Lincoln International, and Jones Day served as advisors to Abracon in the transaction.

San Francisco-based Genstar Capital targets investments in the industrials, financial services, healthcare, and software industries. Currently, Genstar has approximately $35 billion of assets under management.

Abracon was founded in 1992.