Westlake Securities announces the strategic acquisition of VI Technology by Aeroflex
April 21, 2009Austin, Texas - April 21, 2009-Westlake Securities is pleased to announce the acquisition of VI Technology, Inc. ("VI" or the "Company") by Aeroflex, Inc, ("Aeroflex"), a portfolio company of Golden Gate Capital, Goldman Sachs and Veritas Capital. VI has been a leading provider of enterprise test solutions to Fortune 500 customers since being founded in 1991. Westlake served as exclusive financial advisor to VI on the transaction, which closed on March 4, 2009.
With the addition of VI Technology, Aeroflex expands its communications test capabilities to include enterprise-wide automated baseband test solutions. VI Technology's solutions provide significant complementary enhancements to Aeroflex's existing high-frequency RF and broadband test products.
"We are very excited about joining the Aeroflex portfolio and look forward to expanding the reach of our enterprise test expertise to a larger audience. By joining Aeroflex, we further strengthen our position as we continue to ensure the success of our employees, our customers and our partners," said Alex Backus, CEO of VI.
VI Technology has taken a solutions-oriented approach to the increasingly complex product test requirements of global design and manufacturing companies in the consumer electronics, semiconductor, aerospace, and healthcare industries. The Company has established a reputation for improving product designs and reducing product quality issues, effectively reducing the risk and time associated with the new product introduction process.
"We are pleased that an industry leader such as Aeroflex recognized the opportunity of partnering with our client's talented management team," said Alex Klingelberger, Managing Director of Westlake Securities. "This transaction provides an excellent outcome for VI shareholders and a positive operating context for the Company's leadership going forward."
About Westlake Securities
Westlake Securities is an investment banking firm focused on serving middle market companies from its offices in Austin and Houston, Texas. Westlake provides a broad range of corporate finance and capital markets services, which include M&A advisory, capital formation, financial advisory and institutional sales. Westlake is a member of FINRA and SIPC.
About VI Technology, Inc., an Aeroflex Company
Since 1991, VI Technology (www.vi-tech.com) has increased companies' quality and productivity by delivering enterprise test solutions and services. VI Technology combines high quality engineering services and industry-leading test and measurement products-such as its award-winning Multimedia Test System (MMTS) and Arendar enterprise software with third-party tools-to deliver a comprehensive enterprise test solution. VI Technology's solutions are engineered to solve company-wide test problems for the semiconductor, consumer electronics, communications, aerospace, energy and medical industries.
About Aeroflex
Aeroflex Incorporated is a global provider of high technology solutions to the aerospace, defense, cellular and broadband communications markets. The company's diverse technologies allow it to design, develop, manufacture and market a broad range of test, measurement and microelectronic products. Aeroflex Incorporated was founded in 1937 and today has more than 2,600 employees worldwide. Additional information concerning Aeroflex Incorporated can be found on the company's website: www.aeroflex.com.
