Astor Place Holdings Announces the Acquisition of Technicorp International II, Inc.
NEW YORK, NY—Astor Place Holdings (“Astor Place”), the private investment arm of Select Equity Group, L.P. (“SEG”), has acquired Technicorp International II, Inc. (“TCI” or the “Company”), a manufacturer of high-reliability frequency control products and technical ceramics for mission-critical applications. TCI is a holding company that consists of three synergistic operating entities: Statek Corporation (“Statek”), Greenray Industries, Inc. (“Greenray”) and Advanced Technical Ceramics Company (“AdTech Ceramics”). The management teams of the operating companies will continue to manage the respective businesses.
Statek manufactures quartz crystal resonators, oscillators and sensors used in aerospace and defense, space, medical and industrial end markets. Greenray manufactures precision quartz crystal oscillators for the aerospace and defense industry. AdTech Ceramics provides technical ceramics for mission-critical applications. TCI’s products are highly engineered, ultra-miniature and designed to provide reliable performance in the harshest environments.
“We have tremendous respect for TCI’s team, history and industry-leading capabilities,” said Astor Place Managing Director Scott Rubino. “Each of the operating companies has an excellent brand reputation and together form a unique, vertically integrated supplier of highly customized frequency control products. We look forward to partnering with the team and investing in TCI to support accelerated growth.”
McDermott Will & Emery acted as the legal advisor to Astor Place. Delancey Street Partners and Troutman Pepper served as financial and legal advisors to TCI. Debt financing for the transaction was provided by BMO Sponsor Finance. Terms of the transaction were not disclosed.
About Technicorp International II, Inc.
Technicorp International II, Inc. is a vertically integrated manufacturer of high-reliability, ultra-miniature frequency control components and ceramic hermetic packaging. TCI’s products are manufactured in California, Pennsylvania and Tennessee with a focus on innovation, quality and customer service. www.statek.com; www.greenrayindustries.com; www.adtechceramics.com
About Astor Place Holdings
Astor Place Holdings is the private investment arm of Select Equity Group, L.P. Astor Place deploys patient capital in partnership with exceptional management teams to drive long-term value creation in lower middle market North American companies. www.astorplaceholdings.com
About Select Equity Group, L.P.
Select Equity Group manages over $35 billion across various strategies that share a fundamental investment philosophy and centralized research effort. SEG is employee owned and has been located at 380 Lafayette Street in lower Manhattan since 1992. www.selectequity.com