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Astrex is a value-added distributor of electronic interconnects used in military, aerospace, medical, industrial and other high-reliability and ruggedized applications based in Plainview, NY.

Rockwood’s Role

  • Removed ties with the former parent within four months of close, including the relocation of a sales and light assembly operation from a shared facility and creating a stand-alone finance/accounting function from scratch
  • Recruited a new senior management team and board of directors with strong supplier, customer and market relationships
  • Completed a small tuck-in acquisition to expand the company’s supplier line card, value added service offering, end market exposure and geographic footprint
  • Expanded the company’s product offering organically by adding five new suppliers and more than 20 new product families
  • Successfully navigated a downturn and grew EBITDA over the course of ownership
Location
White Plains, New York
Other Locations
New York
Investment
2008
Situation

Rockwood acquired the assets of Astrex in September 2008 from a parent company that was in financial distress. Rockwood completed its due diligence, raised outside debt financing and closed the transaction in 35 days after signing a letter of intent, which was imperative given the deteriorating financial position of the parent company and its impact on Astrex’s operations. In early 2013, Astrex acquired TIM-CO, a leading distributor of electronic components focused on the commercial aviation, space, oil & gas, industrial and military markets. In June 2014, Astrex was sold to TTI, Inc.

Sector
Aerospace & Defense
Industrials

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