iNRCORE Announces Combination with Gowanda Components Group
Dec 31, 2020, 14:22 ET
NEW YORK, Dec. 31, 2020 /PRNewswire/ -- The Jordan Company, L.P. ("The Jordan Company" or "TJC") is pleased to announce that an affiliate of The Resolute Fund IV, L.P. ("Resolute IV"), iNRCORE, LLC ("iNRCORE"), a premier supplier of high-reliability products including magnetics and other electronic components for use in power management, signal conditioning and data transmission solutions across a multitude of demanding advanced industrial applications, has closed on its acquisition of Gowanda Components Group ("Gowanda") from Addison Capital Partners ("Addison Capital"). The Gowanda leadership team will continue to support the business reporting directly to iNRCORE President & CEO, Sarah Harris. Additional terms of the transaction were not disclosed.
Headquartered in Gowanda, NY, Gowanda is a vertically integrated manufacturer of high-performance electronic components for fiber optics / communications infrastructure, test and measurement, transportation, aerospace and defense, medical device and other high-reliability applications. Areas of expertise include power inductors, RF and microwave magnetics, resistors, specialty filters and related application specific designs.
"iNRCORE and Gowanda are both engineering, customer and culturally-focused businesses. Bringing the two businesses together will result in a more comprehensive set of solutions for our customers," said Erik Fagan, a Partner at TJC. "We look forward to supporting Sarah Harris and the iNRCORE and Gowanda teams alongside Addison Capital."
Gowanda's products are highly complementary with iNRCORE's and the combination creates a global magnetics platform with best-in-class engineering.
"The combination of iNRCORE and Gowanda creates a terrific opportunity to deliver greater long-term, sustainable value and growth through highly complementary capabilities, product portfolios and industry applications," said Brian Miller, a Partner at Addison Capital. "We're enthusiastic about the possibilities with Sarah, management and TJC."
Kirkland & Ellis LLP served as legal counsel for TJC and iNRCORE, while Akerman LLP and Stearns Weaver Miller P.A. served as legal counsel for ACP and Gowanda.
About The Jordan Company, L.P.
TJC, founded in 1982, is a middle-market private equity firm with original capital commitments in excess of $13 billion. TJC has a 38-year track record of investing in and contributing to the growth of many businesses across a wide range of industries, including Industrials; Transportation & Logistics; Healthcare & Consumer; and Telecom, Technology & Utility. The senior investment team has been investing together for over 20 years and is supported by its Operations Management Group, established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has an office in Chicago. For more information, please visit https://www.thejordancompany.com.
About Addison Capital Partners
Addison Capital is a private equity investment firm that seeks out partnerships with owners and operators of "smaller" middle market growth companies, often that are closely held or family-owned businesses, to provide legacy stewardship, liquidity, growth capital and management resources to grow and build the greater enterprise. For more information, please visit www.addisoncapitalpartners.com.
SOURCE The Jordan Company, L.P.
