Radnor, PA - April 13, 2017 - NewSpring Capital, a family of private equity funds providing growth and expansion capital, announced today that NewSpring Mezzanine Capital ("NewSpring"), the Firm 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 market place 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.