Riverside Co buys majority of Abracon
Summary
Abracon, of Spicewood, Texas, provides passive and electromechanical timing, synchronization, power, connectivity and radio frequency solutions.The Riverside Company has acquired a majority stake in Abracon, a Texas-based global provider of passive and electromechanical timing, synchronization, power, connectivity and radio frequency (RF) solutions from Evergreen Pacific Partners, a private equity fund.Abracon’s components are vital to electronic circuits and are proliferating in a wide variety of applications as devices get smaller and more connected, particularly as it relates to growth in autonomous vehicles, cloud services, data centers and 5G.“Its innovative offerings, impressive performance and market tailwinds make this an incredible opportunity for growth as we help expand Abracon’s capabilities into other products and markets.”Origination Director Cheryl Strom sourced the deal for Riverside and Partner Anne Hayes helped secure financing.