CIT Agents Facility for Winchester Electronics’ Acquisition
CIT Group served as lead arranger and administrative agent for a senior facility for Winchester Electronics to acquire SRI Hermetics (SRI). Financing was provided by CIT Bank. Financing was provided by CIT Bank. Terms of the transaction were not disclosed.
“This transaction demonstrates our firm’s strong support and deep relationship with Audax,” said Tom Hobbis, co-head and managing director of CIT Sponsor Finance.
Jay Baldinelli, managing director of CIT Sponsor Finance, said, “This acquisition expands Winchester’s product line to include hermetic capabilities and strengthens its presence in the Military and Aerospace, Test and Measurement, and Medical end-markets. We’re pleased we could continue to build our relationship with Audax by helping them grow Winchester.”
Winchester Electronics, established in 1941, is a leader in the design, development, and deployment of interconnect technology. Winchester designs and manufactures a wide variety of PCB, RF, Power and Fiber Optic connectors, as well as value-added cable and electromechanical assemblies to customers in the broadcast, computer, energy and power management, medical, industrial, high-end military and commercial aviation, semiconductor, and telecom industries. winchesterelectronics.com
Audax Group is an investor in lower-middle market companies.