Genstar Capital purchased adapter supplier Infinite RF Holdings Inc. (IRF) from Windjammer Capital Investors. Financial terms were not disclosed.
IRF, headquartered in Irvine, California, supplies radio frequency connectors, adapters and cable assemblies to the aerospace and defense, industrial, government and health care sectors under the Pasternack and Fairview brands. “We continue to see tremendous potential for adjacent product lines to serve existing customers and fulfill product needs of new customers,” says IRF CEO Terry Jarnigan.
Windjammer invested in IRF alongside management in 2008 when it was known as Pasternack Enterprises. In 2010, the target purchased Fairview and became known as IRF. In another recent similar deal, Audax Private Equity-backed Winchester Electronics acquired SRI Connector Gage (SRICG) for an undisclosed amount.
San Francisco-based Genstar invests up to $300 million in equity in businesses that have at least $10 million in Ebitda. The PE firm focuses on the health care, software, industrial technology and financial services sectors. Earlier in 2016, Genstar acquired real estate software company Accruent.