Vance Street Capital, a Los Angeles-based private equity firm, sold Micross Components, a global provider of specialty electronic components, to Insight Equity, a private equity firm. Terms of the transaction were not disclosed.

Vance Street acquired a majority interest in Micross Components in 2009 and grew the company’s revenue both organically and through the successful integration of two strategic acquisitions – Chip Supply in 2010 and Ditronix in 2011.

These acquisitions bolstered the company’s capabilities, allowed it to enter new markets and provided significant cost-saving opportunities. During this time period, Micross also consolidated all of its sales and marketing efforts under the Micross brand and instituted a number of operational initiatives that increased plant utilization and achieved additional cost savings. The transaction with Insight Equity will be Vance Street’s second successful sale from it current fund.

“Working in conjunction with Micross’ talented management team, we successfully grew the business and helped the company achieve its objectives,” said Richard Crowell, partner at Vance Street. “As a result, Micross is one of the most diversified players in the industry and will no doubt continue to expand and gain market share.”

Lincoln International acted as the exclusive financial advisor to Micross. O’Melveny & Myers acted as legal counsel to Micross.

Micross Components is a provider of distributed and specialty electronic components for military, space, medical, and demanding industrial applications. Operating as a single source for high-reliability and state-of-the-art electronics, Micross’ solutions range from bare die and wafer processing to advanced and custom packaging to component modifications and related interconnect offerings.

Insight Equity is a private equity firm that makes control investments in strategically viable, middle market companies underperforming their full potential. Insight Equity’s experienced principals have acquired and managed businesses with over $4B in aggregate revenue since 1998.