Houlihan Lokey Advises BJG Electronics

Houlihan Lokey is pleased to announce that BJG Electronics, Inc. (BJG) a portfolio company of Rockwood Equity Partners, LLC (Rockwood) has been acquired by Audax Private Equity's (Audax) portfolio company FDH Aero (FDH) and will be integrated into the company’s new division, FDH Aero Electronic Products Group. The transaction closed on April 19, 2023.

BJG Electronics Group is a value-added distributor and manufacturer of high-reliability electronic components headquartered in Ronkonkoma, New York. The company’s six locations in the U.S. are certified to ISO 9001:2015 and AS9100:2016 and are committed to delivering consistent, on-time delivery with a deep inventory of assembled and component products. With 32 franchised lines, more than 300,000 unique part numbers, and 125,000 square feet of warehouse space, BJG’s comprehensive product offering provides standard and engineered solutions supporting harsh-environment interconnect and electromechanical requirements. BJG is an approved supplier to the world’s leading defense, commercial aviation, and space OEMs.

FDH Aero is a trusted global supply chain partner for aerospace and defense companies. With more than 55 years of experience, it specializes in C-class components that include hardware, electrical, chemical, and consumable products and services for global OEM and aftermarket customers. FDH is headquartered in Commerce, California, and has operations across North America, Europe, and Asia. Inclusive of the acquisition of BJG, FDH now has locations in 14 countries across the globe, with more than 1,000 best-in-industry employees and over 650,000 square feet of inventory space.

Founded in 1999, Rockwood Equity Partners is a leading lower-middle-market investment firm that partners with entrepreneur or family-owned businesses and management teams of corporate divestitures in regulated industries, including aerospace and defense and healthcare, as well as industrial and specialized B2B businesses. Rockwood builds companies alongside its management teams by using its time-tested Rockwood Business Systems and leveraging its longstanding Rockwood River Guide® network.

Based in Boston and San Francisco, Audax Private Equity is a leading middle-market investment firm with approximately $16 billion of assets under management, more than 185 employees, and 85-plus investment professionals. Since its founding in 1999, the firm has invested in more than 160 platforms and 1,200 add-on acquisitions. Through Audax’s disciplined Buy & Build approach across six core industry verticals, Audax helps portfolio companies execute organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value. Audax Private Equity is part of Audax Group, a leading alternative investment manager with approximately $36 billion of assets under management.

Houlihan Lokey served as the exclusive financial advisor to BJG and assisted in structuring and negotiating the transaction on its behalf. Within Houlihan Lokey's Aerospace and Defense practices in its global Industrials Group, the firm is a leading M&A advisor to aerospace and defense companies. Since 2020, the team has closed more than 55 transactions worth over $10 billion in enterprise value. With a staff of approximately 30 investment bankers in Washington, D.C., London, and Los Angeles, Houlihan Lokey’s Aerospace and Defense practices are among the largest dedicated industry banking groups worldwide. In 2022, the Industrials Group was once again ranked as the No. 1 M&A advisor for all U.S. industrials transactions, according to Refinitiv.*

*Excludes accounting firms and brokers.