Winchester Electronics Acquired by Audax Group

Winchester Electronics Acquired by Audax Group

Audax Group today announced it completed the acquisition of Winchester Electronics (“Winchester”) from Litton Systems, Inc. and certain of its affiliates, subsidiaries of Northrop Grumman Corp. (NYSE:NOC). Headquartered in Wallingford, Connecticut, with operations in the United States, China, Mexico, and Malaysia, Winchester designs and manufactures RF coaxial, board-to-board and power interconnects, as well as cable assemblies, for the telecommunications, computer, and test and measurement industries. Michael Driscoll, President of Winchester, has assumed the additional role of Chief Executive Officer and will continue to lead the management team.

Geoffrey S. Rehnert, Co-CEO of Audax Group, said “Winchester is a leader in its specific market segments within the electronic connectors industry. We plan to build the business through new product offerings, global expansion and synergistic add-on acquisitions.”

Michael Driscoll, CEO of Winchester, said “We are excited to have Audax Group as our new partner. Their acquisition, operational, and international experience will be a valued resource for us to take our business to the next level.”

Kirkland & Ellis LLP advised Audax Group. Genesis Capital LLC and Citigroup Global Markets, Inc. represented both Winchester and Northrop Grumman and Fried Frank Harris Shriver Jacobson, LLP advised the sellers. Sovereign Bank of New England provided senior debt financing. Gladstone Capital Corporation provided second lien financing.

Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $2 billion in equity and mezzanine debt capital.

Company Type: Private Companies, Public Corporations

Transasction Type: Sellside M&A

Industry: Industrial Manufacturing