Vance Street Capital has sold Micross Components to Insight Equity
Lincoln International (“Lincoln”), a leading global mid-market investment bank, has announced that Micross Components, Inc. (“Micross” or the “Company”) has been sold to Insight Equity. Micross was a portfolio company of Vance Street Capital LLC (“Vance Street”).
Based in Orlando, Florida, with additional locations in Pennsylvania, Massachusetts and the U.K., Micross is a leading global provider of specialized semiconductor products and value-added services for mission-critical, high-reliability applications. The Company serves a variety of end markets, including established platforms in defense, commercial aerospace and space, as well as emerging applications in oil and gas, medical, telecommunications and other end markets. Micross has a global platform and is regarded as the only provider offering mirrored capabilities in the U.S. and Europe. Throughout its history, the Company has developed deep, long-standing relationships with a leading blue-chip customer base and generates revenue in over 40 countries.
Lincoln acted as the exclusive financial advisor to Vance Street and Micross, working closely with the Company’s management team and shareholders throughout the sale process. This included providing merger and acquisition advisory expertise, arranging financing for interested parties, as well as managing the preparatory, buyer coordination and contact, due diligence and final negotiation phases of the transaction.
Richard Crowell, a Partner at Vance Street, commented, “We are highly impressed with Lincoln’s efforts in delivering on its promises of multiple products and global industry expertise. Lincoln’s process generated significant interest among international and domestic parties, as well as financing term sheets for buyers, both of which led to a favorable outcome for Vance Street and Micross.”
Alan Taylor, Chief Executive Officer of Micross, added, “Lincoln showed strong commitment and excellent work quality throughout the process. The team possessed a deep understanding of Micross’ business, end markets and growth opportunities, and successfully shared the Company’s unique story with potential acquirers. We are very pleased with the outcome and look forward to a successful partnership with Insight Equity.”
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