The four-decade-old provider of high-reliability microelectronic product and service solutions company, Micross Components, Inc. acquires the High-Reliability Discrete Diodes and Assemblies business of Semtech Corporation (NASDAQ: SMTC), which is a supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms.
A portfolio company of Behram Capital, this is Micross fifth acquisition under the parent company, while first since consummating a continuation fund transaction in February of 2022. This acquisition will address a number of strategic priorities for the company. Semtech’s High-Reliability Discrete Diodes and Assemblies Product portfolio will add more power management components to Micross. These components are supported by a high degree of intellectual property. The new agreement 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.”
