The Riverside Co. has acquired a majority stake in Abracon from Evergreen Pacific Partners, a private equity fund. Abracon, a Texas-based global provider of passive and electromechanical timing, synchronization, power, connectivity and radio frequency solutions, supports over 25,000 active customers and ships over a quarter of a billion components each year critical in support for Internet of Things applications. The company’s components are vital to electronic circuits and are proliferating in a wide variety of applications as devices get smaller and more connected, particularly as it relates to growth in autonomous vehicles, cloud services, data centers and 5G. “Its innovative offerings, impressive performance and market tailwinds make this an incredible opportunity for growth as we help expand Abracon’s capabilities into other products and markets,” Riverside Managing Partner Suzy Kriscunas said in a statement. “Abracon is already highly diversified with its product offering and geographic footprint,” Riverside Partner Tim Gosline added. “However, we look forward to further expanding product categories where the organization may have a limited offering today. Additionally, we believe there will be strategic add-on opportunities in this fragmented market.” Working on this deal with Kriscunas and Gosline were:
- Vice President Jason Fulton.
- Senior Associate John Ribble.
- Associate Alex Huron.
- Operating Partner Tom Anderson.
- Origination Director Cheryl Strom sourced the deal for Riverside
- Partner Anne Hayes helped secure financing.
- Operating Partner and Managing Director Brian Bunker helped provide due diligence on the transaction.
- Antares Capital and Bain Capital provided financing for the deal.
- Jones Day and KPMG supported the transaction as the legal counsel and accounting advisor, respectively.