Inflexion reaps 6x on Halo trade sale

The exit is the eighth divestment from funds managed by Inflexion this year; the GP claims to have realised investments with a combined enterprise value of GBP 4bn in 2021, returning GBP 1.7bn to its investors. Its most recent exits include Medivet, Huws Gray and Kynetec.

Amphenol is a US-based provider of interconnect, sensor and antenna systems. According to Amphenol, it expects the Halo acquisition to be accretive to earnings per share in the first year post closing and reports Halo has expected 2021 sales of approximately USD 250m. It expects this aquisition to support its long-term growth strategy. 

Inflexion created Halo in 2017, via investment from its Inflexion Enterprise Fund IV, by combining UK-based ProLabs with US counterpart AddOn Computer Peripherals. The two companies were to keep their existing brands while operating under Halo.

In July 2021, Inflexion mandated William Blair to sell Halo, having completed two add-on acquisitions, according to PE Hub.

Company
Halo is a US- and UK-based provider of compatible transceiver technology. It operates in North America and Europe. According to LinkedIn, it has between 201-500 employees. 

People
Halo Technology – Matt McCormick (CEO).
Amphenol – Adam Norwitt (president and CEO).
Inflexion – Simon Turner (managing partner).

Advisers
Vendor – William Blair (corporate finance); Goodwin (legal); EY Parthenon (commercial due diligence); A&M (financial due diligence, tax); PwC (tax).

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• Topics
• Exits
• United States
• Inflexion Private Equity
• United Kingdom