24 April 2008
Michael Morrissey, principal of the private equity firm Inverness Graham, said: ‘B&B Electronics’ highly-engineered and ruggedised industrial connectivity products coupled with its strong customer relationships allow them to be a valued solutions provider to companies networking their machinery and equipment.‘Companies are driving productivity improvements by moving from isolated equipment to networked plant environments. B&B Electronics is a leader in its market with strong growth prospects because it enables this conversion.’‘B&B Electronics has experienced uninterrupted growth for the past 20 years and has emerged as a premier communication solutions provider in its industry. I am confident we will continue to deliver impressive financial performance and excel at servicing our customers. We are enthusiastic about the financial and operational partnership with Graham and the opportunities that lie ahead for us,’ Don Wiencek, president and CEO of B&B, said.Although terms of the transaction were not disclosed, Madison Capital Funding LLC led the senior debt financing and Golub Capital provided the subordinated debt to support the transaction.Lazard Middle Market served as financial advisor to B&B Electronics and the seller, Fidelity Equity Partners.
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