Trive backed Vitesse Systems acquires Sterling Precision, Inc.
NEWARK, Calif., Nov. 4, 2021 /PRNewswire/ -- Trive Capital announced that it has acquired Sterling Precision, Inc. (“Sterling Precision”) which will join California Brazing as part of the Vitesse Systems platform. Vitesse Systems was launched in 2018 following the acquisition of California Brazing. The platform is focused on the mission critical components that enable the advancement of communication, radar and electronic warfare systems. Sterling Precision, located in Clinton, Massachusetts is a leading manufacturer of dip-brazed assemblies and end-to-end manufacturing of thermal management and communication devices such as cold plates, chassis assemblies and waveguides.
David Stinnett (Partner – Trive Capital) explained: “We launched the Vitesse Systems platform based on the proliferation of electronic weapons and communication systems and the resultant increase in demand for efficient thermal management and data transmission solutions. Over the past three years we have seen the government accelerate investment in electronic warfare and the ‘connected battlefield’. In response, we have doubled manufacturing and engineering capacity at California Brazing. The addition of Sterling Precision will enable Vitesse to support a broader range of applications and will build upon Vitesse’s thermal management and precision waveguide manufacturing capability.”
Dick Lazazzero and Robert Heckman (Owners – Sterling Precision) commented: “It was important for us to join with a company that holds the same values, integrity and forward vision for our business and employees. We are confident that the investment being made by Vitesse will allow us to add capacity, expand manufacturing capability and build upon the strong technical foundation that Sterling Precision has become known for. We are excited to be able to support our customers as demand for communication and thermal management devices continues to increase.”
About Vitesse Systems
Vitesse Systems is a leading supplier of complex cooling systems and communication components used in radar, electronic warfare and data transmission applications. Headquartered in Newark, California, Vitesse operates three manufacturing facilities located in California, Nevada and Massachusetts. All Vitesse facilities are ITAR Registered and DFARS compliant, serving a broad range of Aerospace and Defense customers.
Trive Capital is a Dallas, Texas based private equity firm with approximately $3.6 billion in assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.
The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.
View original content to download multimedia: https://www.prnewswire.com/news-releases/trive-backed-vitesse-systems-acquires-sterling-precision-inc-301417016.html
SOURCE Trive Capital