Fidelity Equity Partners Announces Sale of B&B Electronics Manufacturing Company to Graham Partners
Boston, April 04, 2008 Fidelity Equity Partners announced that portfolio company B&B Electronics Manufacturing Company (the trade name of Avtek Inc.) has been acquired by Graham Partners, a middle market industrial private equity firm based in suburban Philadelphia. Terms of the transaction were not disclosed.
The acquisition marks a successful exit for Fidelity Equity Partners, which acquired the company when it assumed management of its predecessor fund, Fidelity Capital Investors, in mid-2007.
“Since our acquisition in 2005, we have worked in close partnership with the B&B Electronics’ management team to better position the company and spur growth,” said Brooke Ablon, partner, Fidelity Equity Partners. “This included executing a small add-on acquisition and ultimately guiding the company through an aggressive new customer acquisition program that helped energize their direct marketing business model.”
“B&B has experienced uninterrupted growth for the past 20 years and has emerged as a premier communication solutions provider in its industry,” said Don Wiencek, President and CEO of B&B Electronics. “We are enthusiastic about the financial and operational partnership with Graham and the opportunities that lie ahead of us.”