Harris Williams & Co. Advises Secure Technology Company on its Pending Sale to Benchmark Electronics, Inc.

October 27, 2015

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces that Secure Technology Company (Secure) has entered into a definitive agreement to be acquired by Benchmark Electronics, Inc. (Benchmark; NYSE: BHE) for $230 million, subject to certain closing adjustments.  Secure is a leading provider of customized high-performance electronics, sub-systems and component solutions for defense, aerospace and mission-critical industrial applications.  Harris Williams & Co. served as the exclusive advisor to Secure, a portfolio company of Vance Street Capital.  The transaction is expected to close in the fourth quarter of 2015 and is being led by Chris Rogers, Jon Nemo and Chris Smith of Harris Williams & Co.’s Aerospace, Defense & Government Services (ADG) Group and Carl Menzel of the firm’s Richmond office.

“Secure’s impressive track record of profitable growth is a testament to the tremendous value that the company provides to defense prime contractors, various agencies and departments of the U.S. government and many of the world’s leading aerospace and transportation companies,” said Chris Rogers, a managing director in Harris Williams & Co.’s ADG Group.  “Secure CEO Allen Ronk and Vance Street Capital have built a very special company together, and we wish Allen and the Secure team continued success as a part of Benchmark.”

“Companies with specialized engineering and advanced manufacturing capabilities in defense and aerospace markets are commanding strong levels of interest from both strategic and financial buyers,” added Jon Nemo, a managing director in the firm’s ADG Group. “We expect this trend to continue as demand fundamentals remain exceptionally strong for those who are able to provide differentiated technology expertise and turn-key supply chain solutions within these well-positioned end markets.”

Headquartered in Santa Ana, California, Secure is a unique design, technology and manufacturing platform that provides specialized connectivity and communication solutions to leading defense, aerospace and high performance industrial customers.  Secure benefits from world-class technology and engineering expertise and focuses broadly upon connecting people, machines and networks within environments where uncompromising performance is essential. The company’s products include encryption equipment, wireless communication products, ruggedized portable displays, defense training and simulation sub-systems, military-grade RF and digital circuit card assemblies and a variety of complementary defense electronics components such as specialized filters and multiplexers.

Vance Street Capital is a Los Angeles-based private equity firm. Preferred industries include general industrial, aerospace and defense and medical components and devices. For over two decades, Vance Street Capital’s partners have worked with management, family owners and other co-investors to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio.

Benchmark provides integrated manufacturing, design and engineering services to original equipment manufacturers of industrial control equipment (including equipment for the aerospace and defense industries), telecommunication equipment, computers and related products for business enterprises, medical devices and test and instrumentation products. Benchmark's global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence.  Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s ADG Group offers strategic advice to a global base of leading aerospace, defense and government services clients. For more information on the ADG Group and other recent transactions, visit the ADG Group’s section of the Harris Williams & Co. website. 

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.