Micross Components, a portfolio company of Insight Equity, has acquired Silicon Turnkey Solutions. No financial terms were disclosed. GTK Partners provided financial advice to STS on the transaction. Headquartered in Milpitas, Calif., STS is a provider of distributed and specialty electronic components.
SAN FRANCISCO, Nov. 13, 2014 /PRNewswire/ — GTK Partners is pleased to announce that it served as exclusive financial advisor to Silicon Turnkey Solutions (“STS”) in its sale to Micross Components (“Micross”), a leading global provider of distributed and specialty electronic components. STS is a leader in the high-reliability semiconductor test sector, offering IC design, packaging, qualification, and testing for the most extreme applications. Micross is a portfolio company of Insight Equity Holdings LLC (“Insight Equity”), the Southlake, Texas private equity firm.
Zef Malik, President and CEO of STS, concludes, “GTK Partners distinguished itself in this transaction by offering a level of service and transactional acumen that was truly exceptional. We could not have asked for a better advisor.”
Brad Buser, Senior Vice President at Insight Equity, notes that, “While it is uncommon for us to comment on the roll of the sell-side banker, in this case we were truly impressed by GTK’s execution of a complex transaction. It was a great example of an advisor vigorously representing their client while helping remove mutual barriers to a win-win outcome by, amongst many things, making sure key business characteristics were presented in a manner conducive to supporting value.”
Transaction terms were not disclosed.
About Micross Components:
Micross Components (http://www.micross.com) is a leading global provider of distributed and specialty electronic components for military, space, medical, and demanding industrial applications. Operating as a single source for high reliability and state-of-the-art electronics, Micross’ solutions range from bare die and wafer processing to advanced and custom packaging to component modifications and related interconnect offerings.
About Silicon Turnkey Solutions:
STS (http://www.sts-usa.com) is an industry recognized collaborative partner that integrates design, engineering, manufacturing, test, and qualification processes with operational expertise to provide leading edge technology and services that enable customers to meet demanding time-to-market pressure, cost, and technical challenges in today’s consumer, military, aerospace and green markets.
About Insight Equity:
Insight Equity (http://www.insightequity.com) makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.
About GTK Partners:
GTK Partners (http://www.gtkpartners.com) is a San Francisco-based independent investment bank focused on mergers and acquisitions within the technology sector. The firm has extensive experience in both sell-side and buy-side transactions, as well as corporate divestitures. GTK bankers hail from leadership positions at the world’s leading investment banks, including Morgan Stanley, Credit Suisse, Merrill Lynch, and Lehman Brothers. Securities transactions conducted through GT Securities Inc., a registered broker dealer (member FINRA, SIPC).