Infinity Precision

Background

Infinity Precision Systems (“Infinity”) was founded in 2002 by several engineers who had previously worked together in another setting. The company specialized in automated precision wet process and drying equipment for clients making high-value components in primarily technology industries. By 2005, the company was seeking an outside partner to provide liquidity to angel investors and management, as well as access to resources for growth. At the time, Infinity was characterized by: (i) large customer concentration in the computer disk drive sector and significant international sales; (ii) lumpy revenue stream owing to volatile end markets and capital goods based nature of business; (iii) young, aggressive CEO and deep roster of engineers; and (iii) flexible, outsourced production model that kept overhead low.

Transaction & Post Closing

In August 2005, Brass Ring and two other private equity firms sponsored the recapitalization of Infinity. Closed in 45 days, the transaction provided complete liquidity for angel investors and partial liquidity for the CEO as well as movement to a part time management role. Other key employees also gained the opportunity become investors in the company. Post-closing accomplishments included: (i) development of significant sales into the solar market; (ii) recruitment of outside board member; and (iii) development of IT infrastructure. In December 2009, Infinity was sold back to its CEO founder.