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By Maureen Flanagan
In 1972, Pasternack Enterprises was founded as a manufacturer and distributor of log amplifiers to the military and aerospace communities. Over the following 30 years, the Company, based in Irvine, CA, has built a diversified customer network and offers one of the most extensive lines of radio frequency (RF) coaxial and fiber optic products in the industry.
In a December 24, 2004 transaction, American Capital Strategies, Ltd. (Nasdaq: ACAS) acquired control of the family-owned company with an $89 million financing package.
"Pasternack is a well known and trusted brand that has been in existence for more than 30 years. It fills a unique niche and provides an otherwise underserved link in the RF coaxial and fiber optic products supply chain," said Frank Do, American Capital Principal.
The company offers one of the most comprehensive and diverse RF product lines in the industry including branded coaxial, fiber optic and twinax connectors, adaptors, cables, and other related parts. Pasternack offers additional value-added capabilities through its assembly operations to customize products for its customers.
Pasternack is uniquely focused on small quantity, quick turnaround orders, shipping nearly all domestic orders on the same day the order is received. These capabilities set it apart from most RF connector manufacturers and distributors, who either require higher minimum volume orders (in the case of manufacturers) or only inventory a limited variety of RF parts for their contractual customers (in the case of distributors). Pasternack's capabilities are well recognized and competitors often refer their customers who need low volume or out-of-stock products to the Company. Customers value Pasternack's ability to turnaround orders on small quantity, often hard to obtain parts in a timely manner.
Pasternack's product portfolio is focused on connectors and related products used in military/defense, telecommunication, instrument control, computer, consumer product, commercial aircraft, industrial equipment, and medical areas. Products bearing the Pasternack logo are found in testing machines, missile components, radar and satellite transmitters, base stations for wireless networks and transmitters for wireless LANs.
Pasternack maintains a vast and diversified list of customer contacts as well as distribution partners in the Czech Republic, France, India, Japan, Korea, the Philippines, Singapore, Slovakia, Sweden and the United Kingdom. The company's catalogs are mailed to a diverse mix of end users ranging from Fortune 500 companies to university research labs.
American Capital financed its December 2004 buyout with a revolving line of credit, senior term loans, subordinated debt and common stock. Chuck Becker, the company's CEO, invested in equity.
Pasternack joins American Capital's portfolio, which currently includes more than 100 companies.
For more information about American Capital's portfolio click here.Since 1997 American Capital has invested more than $3 billion in middle market companies.
As it moves forward under the leadership of CEO Becker, Pasternack is making all the right connections for future growth.
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