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Astrodyne Corporation Announces the Acquisitions of Radius Power and LCR ElectronicsBOSTON --(Business Wire)-- Astrodyne Corporation ("Astrodyne") a portfolio company of Audax Private Equity ("Audax"), announced it has completed the acquisitions of Radius Power ("Radius") and the EMI/RFI filters and electronic controls division of LCR Electronics (News - Alert), Inc. ("LCR"). Radius and LCR are leading providers of EMI and RFI filter products to OEM customers worldwide. Headquartered in Yorba Linda, California, Radius is a designer and manufacturer of EMI and RFI (News - Alert) filters primarily for telecom, semi-conductor, industrial, and military end markets. LCR, headquartered in Norristown, Pennsylvania, designs and manufactures EMI and RFI filters primarily for industrial, military/aerospace, and white goods end markets. The acquisitions of Radius and LCR expand Astrodyne into the EMI and RFI filters segment, building a leading integrated and diversified power electronics components manufacturer providing custom solutions for highly engineered applications. Headquartered in Mansfield, Massachusetts, Astrodyne is a designer, manufacturer, and distributor of AC/DC power supplies, DC/DC converters, and external and wall-mount power adapters throug direct sales and online. With operations in the United States, China, and Taiwan, Astrodyne primarily serves medical, military/aerospace, and industrial end markets. Since Audax' acquisition in April 2008, Astrodyne has completed four add-on acquisitions, including, RO Associates and Jerome Industries Corporation. Oliver Ewald, Managing Director of Audax Private Equity, said "Astrodyne is a global developer and manufacturer of specialized power solutions for demanding applications. The acquisitions of Radius and LCR expand Astrodyne's product offering to include a comprehensive line of EMI and RFI filters. We will continue to work with Peter Kaczmarek to execute a growth strategy focused on new product introductions, geographic expansion, and strategic add-on acquisitions." Peter Kaczmarek, Chief Executive Officer of Astrodyne, said "This is an exciting development for Astrodyne, our employees, and customers. The addition of Radius' and LCR's complementary product lines provides a broader offering of power solutions to our customers. We look forward to working with management to build a global EMI filter company within Astrodyne." Fredrikson and Byron P.A. and McGladrey advised Astrodyne on the transactions. ABOUT AUDAX GROUP Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt businesses. For more information visit the Audax Group website www.audaxgroup.com. Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20131205006359/en/ |
