(February 19, 2013) – Rockwood Equity Partners, a private investment firm based in Cleveland and New York, announced today that its portfolio company, Astrex Electronics, has acquired TIM-CO, a leading distributor of electronic components focused on the commercial aviation, space, oil & gas, industrial and military markets. TIM-CO will continue to operate from its existing Simi Valley, Calif. location as a branch of Astrex.
Founded in 1960 and based in Plainview, N.Y., Astrex Electronics is a value-added distributor of high reliability electronic interconnects focused on the aerospace, military, space, medical, and industrial markets. In September 2008, Rockwood acquired Astrex from its former parent company, RAD Technologies, and has worked closely with the Company’s senior management team to grow the business through new product offerings, expanded market coverage and strategic acquisitions.
“TIM-CO fits perfectly with our strategy to grow Astrex’s geographic footprint and sales coverage”, said Mike McGuire, President of Astrex. “This is an exciting opportunity that will enable us to offer a broader range of products and services to our customers,” he added.
“Rockwood looks forward to continuing to support management’s growth plans through both organic investments and targeted acquisitions,” said Joe Merrill, partner at Rockwood Equity Partners.
With the acquisition, Astrex now is a franchised distributor for more than 25 premier electronic component OEMs with distribution centers in New York and California.