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Classified in: Science and technology, Business
Subject: TNM

Corfin Industries Strategically Combines with Micross Components


NEW YORK, Feb. 6, 2020 /PRNewswire/ -- Corfin Industries, LLC ("Corfin") today announced a strategic combination with Micross Components, Inc. ("Micross"), a leading global provider of mission-critical microelectronic components and services for high-reliability markets, as part of a transaction led by Corfin's current majority shareholder Behrman Capital. Financial terms of the transaction were not disclosed.

Headquartered in Orlando, Florida, Micross serves the aerospace, defense, space, medical, and industrial markets, among others. The company offers an industry-leading portfolio of high-reliability components and services that include advanced component testing, qualification services, packaging services, standard wafer bumping, advanced wafer level packaging services, and 3D integration. Micross has longstanding relationships with blue-chip customers in each of its end markets and more than 30 of the world's leading semiconductor manufacturers. The company maintains manufacturing operations across the U.S. and Europe.

Grant Behrman, Managing Partner of Behrman Capital, said: "Corfin and Micross are highly complementary businesses that together will be a differentiated service provider in the high-reliability electronics market with industry-leading breadth and quality of capabilities.  The combination provides product and service extensions across a variety of markets that have been strategic priorities since our investment in Corfin. We look forward to the combined company's exciting next chapter of growth."

Richard Kingdon, Chief Executive Officer of Micross, said: "We are proud of the value that Micross has continued to provide for its customers through our unmatched portfolio of products and services that has been assembled over our 40+ year history. Joining forces with Corfin presents a compelling opportunity to realize our numerous growth prospects and continue our unwavering commitment to quality."

About Corfin Industries

Corfin Industries (http://www.corfin.com) performs a variety of component preparation services. With proprietary technology and processes, Corfin's Robotic Hot Solder Dip (RHSD) process is proven to safely mitigate the risk of Tin Whiskers by robotically refinishing Pb-free COTS component terminations with tin-lead (SnPb). This process eliminates the tin whisker risk, restores solder joint reliability and refinishes components to reliable defense industry standards. In addition, Corfin offers gold mitigation services, BGA re-balling, trim and form services, re-conditioning of bent leads and lead-attachment to LCC packages.

About Micross

Micross (https://www.micross.com) is a leading global provider of mission-critical microelectronic components and services for high-reliability markets. Micross provides a wide range of product and service solutions to customers, including Die & Wafer services, Advanced Interconnect Technology, Custom Packaging & Assembly, Component Modification Services, Electrical & Environmental Testing and other high-reliability products and services. In business for more than 40 years, Micross' extensive hi-reliability capabilities serve the Aerospace & Defense, Space, Medical and Industrial markets, among others. Micross possesses the sourcing, packaging, assembly, engineering, test and logistics expertise needed to support applications throughout their entire program life cycles.

About Behrman Capital

Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company's investments are focused in three industries: defense and aerospace, healthcare services, and specialty manufacturing and distribution. The firm has raised in excess of $3.0 billion since inception and is currently investing out of its sixth fund. For more information, please visit www.behrmancap.com.

Contact

Mark Semer or Daniel Hoadley
Kekst CNC
(212) 521-4800
Mark.Semer@kekstcnc.com / Daniel.Hoadley@kekstcnc.com

SOURCE Corfin Industries, LLC; Behrman Capital


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News published on 6 february 2020 at 07:00 and distributed by: