Audax Group Announces the Acquisition of Winchester.BOSTON -- Audax Group announced it has completed the acquisition of Winchester Electronics ("Winchester") from Litton Systems, Inc. and certain of its affiliates, subsidiaries of Northrop Grumman Corp. (NYSE NYSE See: New York Stock Exchange :NOC (Network Operations Center) A central or regional location for monitoring a large network. Also called a "network management center" (NMC), "service management center" (SMC) or "network control center" (NCC), a NOC may be used to manage a large enterprise network, ). Headquartered in Wallingford, Connecticut, with operations in the United States, China, Mexico, and Malaysia, Winchester designs and manufactures RF coaxial, board-to-board and power interconnects, as well as cable assemblies, for the telecommunications, computer, and test and measurement industries. Michael Driscoll, President of Winchester, has assumed the additional role of Chief Executive Officer and will continue to lead the management team. Geoffrey S. Rehnert, Co-CEO of Audax Group, said "Winchester is a leader in its market segments within the electronic connectors industry. We plan to build the business through new product offerings, global expansion, and synergistic add-on acquisitions." Michael Driscoll, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Winchester, said "We are excited to have Audax Group as our new partner. Their acquisition, operational, and international experience will be a valued resource for us to take our business to the next level." Kirkland & Ellis LLP LLP - Lower Layer Protocol advised Audax Group. Genesis Capital LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Citigroup Global Markets, Inc. represented Winchester and Fried Frank Harris Shriver shrive v. shrove or shrived, shriv·en or shrived, shriv·ing, shrives v.tr. 1. To hear the confession of and give absolution to (a penitent). 2. Jacobson, LLP, advised the sellers. Sovereign Bank of New England provided senior debt financing. Gladstone Capital Corporation provided second lien financing. ABOUT AUDAX GROUP Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $2 billion in equity and mezzanine debt capital. For more information visit the Audax Group website http://www.audaxgroup.com |
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