Monday, August 24, 2009
Semicoa Returns To Life, Gains Private Equity Backing
Costa Mesa-based Semicoa Corporation, a supplier of military and high reliability components, announced Monday that it has relaunched the firm with backing from private equity firm Vance Street Capital, which is based in Los Angeles. The firm said it will focus on its bi-polar transistor portfolio as well as new offerings in the discrete semicnoductor marketplace. Financial details of the private equity investment were not disclosed. The firm's return from the dead comes shortly after a settlement by semiconductor firm Microsemi with the U.S. Department of Justice, which triggered the sale of Semicoa to Vance Street Capital. Microsemi had purchased Semicoa in July of 2008, but shortly thereafter was targeted by the DOJ, saying that the acquisition was driving up prices for "critical" devices used by the U.S. military and space programs.