Timco/Cal RF Acquired by Astrex Electronics
Diamond Capital Advisors, LLC announces the sale of TIMCO/CAL RF, Inc. (“Timco”) to Astrex Electronics, Inc. (“Astrex”), a portfolio company of RockWood Equity Partners, LLC. Diamond initiated the transaction, assisted in the negotiations and served as exclusive financial advisor to Timco.
Founded in 1960, Timco is a manufacturer and distributor of specialized assemblies and interconnect products for the military, aerospace and commercial industries. The Company’s distribution division supplies over 8000 SKUs including commercial and military interconnects, passive and electro mechanical connectors and electronic components. Its manufacturing and assembly division specializes in value-added assembly of RF connectors and cable assemblies, distribution of coaxial connectors and coaxial cable and customer specific products. This proven ability to deliver a diverse array of products have made Timco the trusted source for electronic components and specialized RF cable assemblies.
Founded in 1960 and based in Plainview, N.Y., Astrex Electronics is a value-added distributor of high reliability electronic interconnects focused on the aerospace, military, space, medical, and industrial markets. In September 2008, Rockwood acquired Astrex from its former parent company, RAD Technologies, and has worked closely with the Company’s senior management team to grow the business through new product offerings, expanded market coverage and strategic acquisitions.
“The Diamond Team brought a thorough understanding of the deal process and the dynamics that are unique to our family owned business and, ultimately, our decision to partner with Astrex. They provided us with several options which allowed us to maximize our family’s goals,” said James Clarizio, President of Timco. “The opportunity to better serve our customers was the deciding factor in our decision to partner with Astrex. The ability to offer a broader range of products with better service via an expanded geographic footprint is something our customers will greatly value.” Clarizio will serve as General Manager of Astrex’s West Coast branch.
Astrex President, Mike McGuire added “We are very pleased to welcome the management and employees of Timco to the Astrex team. Collectively, the senior management teams have more than 140 years of experience in the high-reliability interconnect market. Joining forces enables both companies to leverage this experience and to provide a broader range of products and services to our respective customer bases.”
“Rockwood looks forward to continuing to support management’s growth plans through both organic investments and targeted acquisitions,” said Joe Merrill, partner at Rockwood Equity Partners.