Rockwood Equity Partners, a leading lower middle market private investment firm, announced today that is has completed the sale of BJG Electronics, Inc. (“BJG”) to FDH Aero (“FDH”), a portfolio company of Audax Private Equity.
Founded in 1979 by Joseph Flora as a regional electronic connector specialist, BJG today is a global supplier of interconnect and electromechanical products to the world’s leading OEMs in the defense, commercial aviation, business aviation, space, oil and gas, and industrial markets. Rockwood invested in BJG in 2016 and, in partnership with company management, including Joseph Flora’s sons Rick, Jim and Joe, embarked on an aggressive growth strategy for the company. Over the course of Rockwood’s ownership, BJG completed four add-on transactions that have expanded the company’s geographic reach, product offerings and market share.
“BJG serves as a premier example of Rockwood’s investment strategy,” said Joe Merrill, Rockwood Managing Partner. “The opportunity to work with Rick, Jim and Joe Flora, along with additional visionaries, such as BJG Chairman and Rockwood River Guide® Glenn Davidson, was second to none. From day one, the combined team shared an unwavering commitment to growing BJG into the best-in-class company that it is today. Rockwood is honored to have worked with the BJG team and is excited about its next chapter with FDH.”
Houlihan Lokey served as the exclusive financial advisor to BJG and assisted in structuring and negotiating the transaction on behalf of the company.