IVYLAND, PA, Lynn Electronics received a $14.3 million investment.
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NewSpring Capital, a family of private equity funds providing growth and expansion capital, announced today that NewSpring Mezzanine Capital ("NewSpring"), the Firm's dedicated mezzanine fund, has made a $14.3 million investment in Lynn Electronics, Inc. ("Lynn Electronics"). Proceeds will help to expand the Company's operational and manufacturing capabilities.
Headquartered in Ivyland, PA, Lynn Electronics operates two business divisions, Commercial and Government. The Commercial division is a provider of data and telecommunications products such as fiber optic cables, copper cables, and other components and accessories to the OEM and Communication/Data marketplace. The Government division serves the U.S. Department of Defense through project management, packaging, ordering, and logistics to deliver government specifications on a variety of contracts.
"With this commitment by NewSpring, we look forward to expanding both the commercial and government sides of our business. This opportunity allows us to work towards expanding our geographical presence on the commercial side and enhancing our automation feature on the government side," commented Doron Phillips, Lynn Electronics President.
"Lynn Electronics has a strong position in the commercial and government sectors," said Anne Vazquez, NewSpring Partner. "We're excited to work with Doron and the management team to capitalize on their expansion goals and further their already strong position in those sectors."
About Lynn Electronics
Lynn Electronics Corporation, founded in 1964, is one of the foremost providers of data and telecommunications products in the marketplace today. Lynn is committed to providing the most complete product offering, delivered on time and at the most competitive prices for the OEM and Communication/Data market place. For more information, visit www.lynnelec.com.
About NewSpring Capital
NewSpring Capital is a leading provider of private equity capital focused in the Mid-Atlantic region. The Firm manages over $1.5 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to equity and mezzanine debt. NewSpring Capital combines deep operating knowledge with financial and investing expertise to provide growing companies the financial resources, advice, network of contacts and strategic partnerships necessary to develop their businesses into market leaders. This philosophy has been a key tenet of NewSpring Capital's approach and the success of its current and former portfolio companies demonstrates the Firm's commitment. To learn more about NewSpring Capital, please visit www.newspringcapital.com.