Quantic Electronics, a portfolio company of Arcline Investment Management (Arcline), has announced the acquisition of leading designer and developer of hybrid monolithic microwave integrated circuit (MIC/MMIC) components and subsystems, Planar Monolithic Industries (PMI).
PMI was founded by Dr. Ashok (Ash) Gorwara in 1989. For over three decades, PMI has been a leading supplier of custom, high-reliability MIC/MMIC components and subsystems for applications in space, military, communications, commercial and consumer electronics systems.
Sebastian Palacio, General Manager of PMI stated, “PMI will carry on the legacy of its founder, Dr Ash. The company was founded to take advantage of the burgeoning demand for monolithic-based products using Hybrid MIC/MMIC technology innovations. For the last 30 years we have been dedicated to developing new technology and products that solve our customers’ difficult design challenges. I would like to thank all the employees that have contributed to our years of success, and I look forward to working as part of the Quantic family to write our next chapter.”
“I am very excited about the addition of PMI to the Quantic family,” said Kevin Perhamus, President and CEO of Quantic Electronics. “We continue to focus on developing a world-class group of specialty electronics manufacturers that make mission-critical products for a broad range of markets. PMI fits the mold perfectly, and I look forward to working with the entire PMI team to help them achieve their growth objectives.”
KippsDeSanto & Co. served as financial advisor to Quantic Electronics. Sperry, Mitchell & Company served as financial advisor to PMI. The details of the transaction were not released.
