Astor Place Holdings (“Astor Place”), the private investment arm of Select Equity Group, L.P. (“SEG”), announced that it has acquired a majority interest in Douglas Electrical Components (“Douglas” or the “Company”), a third-generation, family-owned manufacturer of custom-made, proprietary hermetic components and other interconnect solutions. President and CEO Ed Douglas has retained a significant ownership stake in the Company. Translink acted as advisor to the seller.

Founded in 1944 and headquartered in Randolph, New Jersey, Douglas manufactures hermetic connectors, wires, feedthroughs and pin headers designed for use in harsh environments, primarily high-pressure and vacuum applications. The Company’s core expertise is in the application of epoxy-based materials to create hermetic seals with a broad range of materials, including fiber optics, plastic, brass, steel and aluminum. Douglas provides end-to-end solutions for its customers and serves a variety of end markets including space, power distribution, air conditioning and refrigeration, semiconductor, electricity transmission, aerospace, military and medical.

Mr. Douglas will continue to serve as President and CEO, and members of the management team will remain in their current roles. “As a third-generation family business, finding the right partner was very important to me. Astor Place and I share a longsighted objective to scale Douglas both organically and through add-on acquisitions with long-term, patient capital. I also appreciated Astor Place’s deep domain knowledge in the interconnect space,” said Mr. Douglas.

Astor Place Senior Advisor Andy Wilson will assume the role of non-executive Chairman of the Board, bringing over 20 years of experience in manufacturing from diversified global businesses. Most recently, Mr. Wilson served as CFO and Senior Vice President of PerkinElmer, Inc. “The Astor Place team and I see many organic and inorganic growth opportunities for Douglas. We look forward to working closely with Ed to build a leading, harsh environment interconnects platform,” said Mr. Wilson.

“Douglas has an excellent reputation in the hermetic seal and connector market due to its engineering capabilities and focus on product quality and short lead times,” said Astor Place Managing Director Charlie Durkin. “We are excited to partner with Ed and the experienced team at Douglas to build upon their excellent record of organic growth and pursue add-on acquisitions.”

Baker & McKenzie LLP acted as the legal advisor to Astor Place. Dinan Capital Advisors and McGuireWoods LLP served as financial and legal advisors, respectively, to Douglas. Debt financing for the transaction was provided by Maranon Capital, L.P.