Oaktree Capital Management LP has closed the $17 million take-private of Pulse Electronics Corp.
Pulse, headquartered in San Diego, makes parts for electric devices, including magnets, antennas and connectors. The company’s products are also used by the communications, power management, military, aerospace and automotive markets.
Oaktree is a Los Angeles-based investment firm that has $90.8 billion in assets under management. In January, Oaktree-backed sandwich company AdvancePierre Foods bought the manufacturing operations of Landshire Inc.
Dentons US LLP was Pulse's legal adviser, while the company's special committee was advised by Latham & Watkins LLC and Houlihan Lokey Capital Inc. as financial adviser. Paul Weiss Rifkind Wharton and Garrison LLP was Oaktree's legal adviser on the deal.
Other recent parts deals include Microsemi Corp.'s (Nasdaq: MSCC) deal for Vitesse Semiconductor (Nasdaq: VTSS), which designs semiconductors, in March, and Alcoa Inc.'s deal for RTI International Metals, which makes products used in jet engines.