Micross Acquires High-Reliability DC-DC Converter Business of Infineon Technologies AG
Acquisition Expands Micross’ High-Reliability Power Management Solution Capabilities
MELVILLE, N.Y., Jan. 10, 2023 /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 signing a definitive agreement to purchase the High-Reliability DC-DC converter business (the “Business”) of Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY), a global semiconductor leader in power systems and IoT. The deal is expected to close in the first quarter of calendar year 2023.
Headquartered in San Jose, California with a facility in Copenhagen, Denmark, the Business provides high-reliability DC-DC converters, including hybrid and custom board based power products for space, strategic defense, aerospace, and other high-reliability customers. The Business designs and manufactures proprietary power solutions which operate in the harshest environments.
Micross’ acquisition – the eighth under Behrman Capital’s ownership and fourth since consummating a continuation fund transaction in February of 2022 – continues to build on the strategic priorities for the Company. The addition of Infineon’s High-Reliability DC-DC converter business expands Micross’ power management solution offerings which are supported by a high degree of intellectual property. The acquisition also expands Micross’ geographic footprint in the US and Europe and the Company’s presence in the high-growth space end market, better positioning the Company for future growth 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 high-reliability product portfolio to better serve its customer base. Adding Infineon’s DC-DC converter Business to Micross’ platform further differentiates and adds significant IP to 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 experienced team which further expands the Micross team’s design capabilities. The acquisition brings significant proprietary IP around power management, combined with state-of-the-art manufacturing capabilities and a product portfolio that is a market leader for the advancement of innovative solutions. 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.”
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.
About Behrman Capital
Based in New York City, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are focused in three industries: defense and aerospace, healthcare services, and specialty manufacturing and distribution. Since its inception, the firm has raised $4.0 billion and is currently investing out of its sixth fund.
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about €14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY). Further information is available at www.infineon.com
Ross Lovern / Nathaniel Shahan
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SOURCE Behrman Capital