Micross acquires high-reliability DC-DC converter business of Infineon Technologies
Melville, United States – Micross Components, Inc., a provider of high-reliability microelectronic product and service solutions for aerospace, defense, space, medical and industrial applications and a portfolio company of Behrman Capital, has announced signing a definitive agreement to purchase the high-reliability DC-DC converter business (the “business”) of Infineon Technologies AG, a global semiconductor provider in power systems and IoT. The deal is expected to close in the first quarter of calendar year 2023.
Headquartered in San Jose, California with a facility in Copenhagen, Denmark, the business provides high-reliability DC-DC converters, including hybrid and custom board based power products for space, strategic defense, aerospace, and other high-reliability customers. The business designs and manufactures proprietary power solutions which operate in the harshest environments.
Micross’ acquisition is the eighth under Behrman Capital’s ownership and fourth since consummating a continuation fund transaction in February of 2022 and continues to build on the priorities for the company. The addition of Infineon’s high-reliability DC-DC converter business expands Micross’ power management solution offerings which are supported by a high degree of intellectual property. The acquisition also expands Micross’ geographic footprint in the US and Europe and the company’s presence in the high-growth space end market, better positioning the company for future growth opportunities.
Vince Buffa, chairman and CEO of Micross, says “We are delighted to partner with this experienced team which further expands the Micross team’s design capabilities. The acquisition brings significant proprietary IP around power management, combined with state-of-the-art manufacturing capabilities and a product portfolio that is a market leader for the advancement of innovative solutions. We will be better positioned to produce an even wider range of high-quality products for our customers. Together, we plan to pursue a number of compelling opportunities to further realise our exciting growth prospects, all while upholding excellent quality and service to our customers.”
Simon Lonergan, managing partner of Behrman Capital, says “This acquisition represents an extremely strong strategic fit for Micross, as the company continues to build out its high-reliability product portfolio to better serve its customer base. Adding Infineon’s DC-DC converter business to Micross’ platform further differentiates and adds significant IP to the Company’s leading position as a one-stop source of supply for high-reliability electronic products and services. We look forward to continuing to work with management to identify additional opportunities to drive growth at Micross.”
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