Inflexion Private Equity Partners is preparing a sale of optoelectronics provider Halo Technology after receiving inbound interest, a source familiar with the situation told PE Hub.
The London-based firm has hired William Blair to provide financial advice to explore strategic options, including a potential sale of the portfolio company, the person said. A formal process is expected to launch before the end of summer; however, the company has already received inbound interest from multiple US-based PE firms, the source added.
Halo Technology, which has grown through multiple add-ons over the years, is readying a sale amid the completion of another two acquisitions.
The company has acquired San Francisco-based Aria Technologies, an industry leading designer, manufacturer, and provider of fiber optical connectivity solutions. The company also acquired Solid Optics – a global provider of fiber optic transceivers, high-speed cabling, and passive and active networking technology – headquartered in Almere, Netherlands.
Halo’s latest buys are set to expand its reach in key markets such as Germany and France, as well as further strengthen its product offerings and technical and commercial capabilities.
Based in Irvine, California, Halo Technology is the world’s largest independent provider of optoelectronics. The company develops and markets mission critical optical networking solutions, such as optical transceivers, high-speed optical cabling, and supports connectivity solutions for over 40,000 customers in over 60 countries.
The company expects to reach $1 billion in revenue within the next five years, the source said.
Halo was created in December 2017 through the merger of Inflexion-backed ProLabs, a UK-based supplier of compatible optical transceivers, and AddOn Computer Peripherals, a California-based manufacturer of computer peripheral equipment.
With the merger, Inflexion appointed a few new C-suite members to run the combined business. That included CEO Matt McCormick, the former president at AddOn, as well as CFO Scott Krzywicki and executive chairman Stewart Holness (the latter previously had the same role at ProLabs).
Inflexion Private Equity is a mid-market private equity firm based in London. It generally invests £10 million (~$14 million) to £300 million (~$414 million) for a minority or majority stake in high-growth businesses across all sectors. The company has £5.4 billion (~$7.45 billion) under management.
Earlier this year, WSJ Pro reported that is the firm is pitching its latest buyout fund to investors with a £2 billion (~$2.74 billion) target, 60 percent larger than a predecessor fund that closed in 2018 with £1.25 billion (~$1.7 billion).
Inflexion Private Equity declined to comment. William Blair did not respond to PE Hub‘s request for comment.