CHB Capital has sold HiRel Systems to Vishay Intertechnology
Lincoln International announced the completion of the sale of HiRel Systems, LLC (“HiRel” or the “Company”) to Vishay Intertechnology, Inc. (NYSE: VSH) for approximately $85 million. HiRel is a leading global designer and manufacturer of high reliability transformers, inductors, coils, and power conversion products for custom applications within the medical, military, aerospace and specialty industrial and commercial markets. The Company, through its 60 plus year history, has built a well-recognized brand based on its reputation for reliably meeting difficult design and manufacturing challenges for some of the most sophisticated technology companies in the world. Vishay is one of the world’s largest manufacturers of discrete semiconductors and passive electronic components. Lincoln International, a leading global middle market investment bank, acted as the exclusive financial advisor to the Company.
“Lincoln International was a valued partner throughout the transaction” said Paul Larkin, President and CEO of HiRel. “Lincoln’s excellent process execution, strategic advice, expertise in our end markets and involvement in every stage of the transaction resulted in a very efficient process for the management team and a very successful outcome.” Commenting on the transaction, Tad Kelly, Managing Director and co-founder of CHB Capital Partners, said “Lincoln did an outstanding job in understanding HiRel’s competitive advantages and its strong growth opportunities and in generating significant interest from strategic acquirers worldwide. The result was a very competitive auction process that provided attractive alternatives and an excellent outcome for the Company and its ownership.”
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