Winchester Electronics Corporation (“Winchester”), a portfolio company of Audax Group, announced it has completed the acquisition of Clements National Company (“Clements”) from private owners. The acquisition of Clements enhances the product offering of Winchester Electronics Corporation, which Audax acquired in June 2006. Headquartered in Broadview, Illinois, Clements is a designer and manufacturer of power and signal connectors to the rail/mass transit and marine, and oil & gas markets. Its connectors and cable assemblies are sold under the Cadillac trademark to railroad equipment manufacturers and rail operators, as well as oil & gas distributors, in the United States and Canada. Winchester, based in Wallingford, Connecticut, is a designer and manufacturer of connectivity solutions, including both connectors and cable assemblies, for diversified end markets including medical, military, energy & power, and ruggedized industrial, among others. Since Audax’ acquisition, Winchester has purchased Electrical Specialty Products, Inc. of Spartanburg, South Carolina in July of 2012, Kings Electronics Corporation, Inc. of Rock Hill, South Carolina in May of 2007, and Advanced Interconnect, Inc. of Franklin, Massachusetts in April of 2007.
Oliver Ewald, Managing Director, Audax Group, said “Winchester is a leading provider of interconnect technologies worldwide. The acquisition of Clements expands Winchester’s product offering for ruggedized industrial applications. We will continue to grow the company through new product offerings, global expansion, and strategic add-on acquisitions.”
*Kevin Perhamus, *Chief Executive Officer, Winchester Electronics, said “The acquisition of Clements is an exciting development for Winchester and our customers, who will benefit from this new product line introduction. We look forward to working with the Clements management team to share best practices across the companies.”
Reginald Barrett, Chairman of Clements, said “This acquisition is a positive outcome for our employees and customers. In joining Winchester, Clements will now be able to provide additional services and capabilities, while maintaining the quality and reliability our customers have come to expect. ”
Lincoln International advised Clements. K&L Gates LLP served as counsel to Winchester.
