ARTEMIS ANNOUNCES SALE OF KCB SOLUTIONS TO MICROSS

PR Newswire

MELVILLE, N.Y., Jan. 25, 2023

MELVILLE, N.Y., Jan. 25, 2023 /PRNewswire/ -- Artemis ("the Firm"), a Boston-based private equity firm focused exclusively on partnering with differentiated Industrial Tech manufacturers, has completed the sale of KCB Solutions ("KCB", or "the Company"), a manufacturer of specialty high reliability RF and Microwave technologies, to Micross Components ("Micross"), a provider of high reliability microelectronic product and service solutions for Aerospace, Defense, Space, Medical, Industrial, and other applications.

For 20 years, KCB has been applying its company culture of innovation, precision, and quality proprietary technology to the manufacturing of highly engineered switches, amplifiers, and attenuators. KCB's customers in Defense and Space rely on KCB's advanced microwave semiconductor technologies to serve mission-critical applications that require the highest levels of reliability, accuracy, and ruggedness.

KCB was one of Artemis' first RF and Microwave-driven investments and represented a unique opportunity for the firm to prove operational expertise navigating deeply entrenched end-markets -- like Aerospace and Defense -- from a lower-middle market perspective. Sharing a commitment to innovation and excellence, Artemis Team members, Peter Hunter, James Ward, Euan Milne, Nick Reyes and Lukas Buckley -- alongside KCB President & CEO, Ralph Nilsson, helped develop the company into the asset it is today.

Artemis' Managing Director and former KCB Board Member, Peter Hunter, spoke to KCB saying, "KCB's components serve the intersection of two of the most demanding and essential end-markets, Defense and Space. We are proud to have partnered with Ralph and the KCB team to grow the business over the past several years. As part of Micross, KCB is well positioned for continued growth."

Micross Chairman & CEO, Vincent Buffa, commented on the acquisition rationale saying, "The acquisition of KCB Solutions will greatly expand Micross' proprietary portfolio of high reliability RF and Microwave products, which will enhance overall product performance and reduce supply chain risk for the benefit of our customers. In addition, Micross will leverage the capabilities of its design, packaging, and test services to provide our RF and Microwave customers with greater value from our 'one source-one solution' business model that will provide them with the most advanced microelectronic solutions available."

TCF Law Group served as legal counsel to Artemis and KCB in this transaction.

About KCB

Founded in 2003, KCB Solutions has grown into a leading manufacturer of RF and Microwave surface mount microcircuits and hybrids, focused on space, aerospace, and defense applications. Based on our commitment to product quality and an exceptionally high level of customer service, we have become a partner and sole source supplier to some of the largest OEMs in the world. For more information, please visit www.kcbsolutions.com

About Micross Components, Inc

Micross is a leading global provider of mission-critical microelectronic components and services for high-reliability markets. Micross provides a wide range of product and service solutions to customers, including Die & Wafer services, Advanced Interconnect Technology, Custom Packaging & Assembly, Component Modification Services, Electrical & Environmental Testing and other high-reliability products and services. In business for more than 40 years, Micross' extensive high-reliability capabilities serve the aerospace & defense, space, medical and industrial markets, among others. For more information about Micross, please visit www.micross.com.

About Artemis

Headquartered in Boston, MA, Artemis is a specialized private equity firm focused on partnering with differentiated Industrial Tech companies, whose people and products enable a healthier, safer, more connected, productive, and equitable world. For more information, please visit: www.artemislp.com.

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SOURCE Artemis Capital Partners

/CONTACT: Jesse Moran, Vice President, Artemis Capital Partners, jmoran@artemislp.com

(END) Dow Jones Newswires

January 25, 2023 12:11 ET (17:11 GMT)