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PE-backed Micross acquires Semtech’s diodes and assemblies unit

Micross Components, which is backed by Behrman Capital, has acquired Semtech Corp's high-reliability discrete diodes and assemblies business.

Micross Components, which is backed by Behrman Capital, has acquired Semtech Corp’s high-reliability discrete diodes and assemblies business. No financial terms were disclosed.

PRESS RELEASE

MELVILLE, N.Y., May 3, 2022 /PRNewswire/ — Micross Components, Inc. (“Micross” or the “Company”), a leading provider of high-reliability microelectronic product and service solutions for aerospace, defense, space, medical and industrial applications and a portfolio company of Behrman Capital, today announced the acquisition of the High-Reliability Discrete Diodes and Assemblies business of Semtech Corporation (Nasdaq: SMTC), a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms.

Headquartered in Reynosa, Mexico, the business provides semiconductor solutions, including Qualified Product List (“QPL”) and non-QPL diodes, rectifiers and transient voltage suppression products to aerospace, defense, medical and other high-reliability customers. The business manufactures products designed to operate across a wide range of temperatures, vibrations and other harsh environments.

Micross’ acquisition – the fifth under Behrman Capital’s ownership and first since consummating a continuation fund transaction in February of 2022 – addresses a number of strategic priorities for the Company. The addition of Semtech’s High-Reliability Discrete Diodes and Assemblies Product portfolio provides Micross with power management components that are supported by a high degree of intellectual property. The acquisition also expands Micross’ footprint with a manufacturing presence in Mexico, offering a new beachhead for future growth and expansion opportunities.

Simon Lonergan, Managing Partner of Behrman Capital, said, “This acquisition represents an extremely strong strategic fit for Micross, as the Company continues to build out its product portfolio to better serve its customer base. Adding Semtech’s high-reliability discrete products to Micross’ platform further differentiates the Company’s leading position as a one-stop source of supply for high-reliability electronic products and services. We look forward to continuing to work with management to identify additional opportunities to drive growth at Micross.”

Vince Buffa, Chairman and CEO of Micross, said, “We are delighted to partner with this team through the acquisition, to further expands Micross’ capabilities. With the addition of significant manufacturing capacity, we will be better positioned to produce an even wider range of high-quality products for our customers. Together, we plan to pursue a number of compelling opportunities to further realize our exciting growth prospects, all while upholding excellent quality and service to our customers.”

About Micross
Micross (https://www.micross.com) is a leading global provider of mission-critical microelectronic components and services for high-reliability markets. Micross provides a wide range of product and service solutions to customers, including Die & Wafer services, Advanced Interconnect Technology, Custom Packaging & Assembly, Component Modification Services, Electrical & Environmental Testing and other high-reliability products and services. In business for more than 40 years, Micross’ extensive high-reliability capabilities serve the Aerospace & Defense, Space, Medical and Industrial markets, among others. Micross possesses the sourcing, packaging, assembly, engineering, test and logistics expertise needed to support applications throughout their entire program life cycles. For more information about Micross, please visit www.micross.com.