News

November 2022
Windjammer Capital Completes Sale of Hermetic Solutions Group

Windjammer Capital Investors is pleased to announce the sale of its portfolio company Hermetic Solutions Group, Inc. ("HSG" or the "Company") to Qnnect LLC, a portfolio company of Arcline Investment Management.

HSG designs and manufactures highly engineered performance and protection solutions to ensure mission-critical electronics function reliably in harsh environments. Systems engineers in the defense, aerospace, medical and industrial end markets rely on the Company’s complementary products and know-how to protect, preserve and facilitate electronic signal generation and transmission under the most extreme operating conditions, where performance and reliability are paramount.

Windjammer, after acquiring HSG in February 2019, partnered with the Company to set the strategic direction and upgraded the senior leadership team to drive the successful execution. Led by CEO Keith Barclay, the new team pursued foundational investments across the business, institutionalizing best practices and enabling the Company’s rapid growth and improved profitability. These initiatives, along with the acquisitions of Cristek Interconnect, FilConn and Zet-Tek to build out HSG’s specialty interconnect offering, transformed the business and positioned it for continued success.

Craig Majernik, Managing Director at Windjammer, said: “Our engagement with HSG – ensuring effective leadership, establishing strategic goals and supporting their implementation – is how we approach every investment. The Company’s industry leadership, highly engineered, mission-critical solutions and high-value-to-cost product offering aligned precisely with Windjammer’s target business and organic growth models; while the successful execution of our thesis-driven acquisition strategy significantly expanded HSG’s addressable market, reshaping the business and creating tremendous value for all stakeholders.”

“It was an honor to lead HSG these past three and a half years,” said Keith Barclay, President and CEO during Windjammer’s ownership. “We built a world-class team whose constant focus on enhancing the Company’s value proposition and exceeding customers’ expectations was the driving force. Our partners at Windjammer understood the importance of HSG’s mission. We aligned from the outset around a sense of urgency and the importance of transparency, data-driven decision making and measurable results – it was an exemplary partnership yielding an extraordinary outcome.”

Please contact Craig Majernik or Greg Bondick at (781) 530-9100 with any questions.

William Blair & Company, LLC and BlackArch Partners LLC served as co-advisors to the Company, and Kirkland & Ellis provided legal counsel.

About Windjammer

Windjammer Capital is a national private equity investment firm, based in Newport Beach, CA and Waltham, MA that invests control equity in middle-market businesses and in partnership with management. Windjammer has over $2 billion of committed capital with respect to its control equity investment strategy, and since inception has completed over 60 platform investments and more than 160 strategic add-ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance. www.windjammercapital.com