M&A Deal Summary

Lee Equity Partners and Twin Point Capital Acquire TESSCO Technologies

On April 12, 2023, private equity firms Lee Equity Partners and Twin Point Capital acquired technology hardware company TESSCO Technologies for 161M USD

Acquisition Highlights
  • This is Lee Equity Partners’ 2nd and Twin Point Capital’s 2nd transaction in the Technology Hardware sector.
  • This is Lee Equity Partners’ 4th and Twin Point Capital’s largest (disclosed) transaction.
  • This is Lee Equity Partners’ 29th and Twin Point Capital’s 3rd transaction in the United States.
  • This is Lee Equity Partners’ 2nd and Twin Point Capital’s 1st transaction in Maryland.

M&A Deal Summary
Date 2023-04-12
Target TESSCO Technologies
Sector Technology Hardware
Buyer(s) Lee Equity Partners
Twin Point Capital
Deal Type Going Private
Deal Value 161M USD
Advisor(s) William Blair (Financial)
Ballard Spahr LLP (Legal)

Target

TESSCO Technologies

Hunt Valley, Maryland, United States
website
TESSCO Technologies is an entity which makes wireless works. TESSCO Technologies enables organizations to capitalize on these opportunities while providing an extraordinary business experience. Company deliver the knowledge, product and supply-chain solutions required to build, use, and resell wireless voice, data and video systems. TTESSCO Technologies was founded in 1982 and is based in Hunt Valley, Maryland.

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Buyer(S) 2

Buyer

Lee Equity Partners

New York, New York, United States

website

Category Private Equity Firm
Founded 2006
Size Large
Type Sector Agnostic
DESCRIPTION

Lee Equity Partners is a private investment firm that looks for buyout and growth capital investments across a range of industries. Lee Equity Partners seeks investments requiring $50 to $100 million of equity capital. Lee Equity Partners was formed in 2006 by Thomas H. Lee, formerly of Thomas H. Lee Partners, LP.

DEAL STATS #
Overall 31 of 31
Sector (Technology Hardware) 2 of 2
Type (Going Private) 3 of 3
State (Maryland) 2 of 2
Country (United States) 29 of 29
Year (2023) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 K2 Insurance

San Diego, California, United States

K2 Insurance is an insurance services holding company, which owns a diverse group of MGAs that underwrite and distribute specialty property and casualty insurance products. K2 Insurance was founded in 2011 and is based in San Diego, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-09 Cadent

New York, New York, United States

Cadent is a media services company that aggregates local cable television advertising inventory for resale to national advertisers. Cadent was formed in 2007 and is based in New York, New York.

Sell -
Buyer

Twin Point Capital

website

Category Private Equity Firm
Founded 2015
Size Small
Type Sector Agnostic
DESCRIPTION

Twin Point Capital is a principal investment firm that looks for opportunities across the US. The Firm was formed in 2015 and is headquartered in Palo Alto, California.

DEAL STATS #
Overall 4 of 4
Sector (Technology Hardware) 2 of 2
Type (Going Private) 1 of 1
State (Maryland) 1 of 1
Country (United States) 3 of 3
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-13 Alliance

Mississauga, Ontario, Canada

Alliance is a distributor and manufacturer of products and solutions including cabling, assemblies, antennas and related active and passive connectivity componentry to support wireless, broadband, broadcast and wireline networks for the North American market. Alliance is based in Mississauga, Ontario.

Buy -
Mergr

Product

Company

Legal