Boston, MA – Capstone Partners LLC, a leading investment banking firm, announced that it has successfully advised TR Manufacturing, Inc. on its acquisition by Corning Incorporated. Terms of the transaction were not released.
Headquartered in Freemont, California, with additional facilities located in Texas and Singapore, TR Manufacturing is a leading provider of fiber-optic and copper cable, component interconnects and electro-mechanical assemblies. The company provides its products to customers in a wide range of technology industries. TR Manufacturing offers three main product lines: Copper Interconnects & Harnesses, Fiber Optic Interconnects & Modules, and Electro-mechanical box builds. With a diverse portfolio of products and services, TR works with customers to meet all their requirements for prototyping, first runs and full production manufacturing, while maintaining stringent operating guidelines to ensure the highest quality and reliability for its products and services.
Corning is a global provider of connectivity solutions for every part of the communications network. The addition of TR Manufacturing's products and capabilities to Corning’s portfolio of connectivity products and global manufacturing reach will enable Corning to extend its position as a leading provider of optical solutions. Besides the telecom industry that Corning primarily serves, TR Manufacturing will help deepen the company's presence in a number of other verticals, including expanded penetration into data centers and semiconductor equipment manufacturers.
"We are excited about the opportunity to expand Corning's capabilities to service the growing bandwidth demand of all network operators," said Clark S. Kinlin, Executive Vice President, Corning Optical Communications. "TR Manufacturing's expertise, supported by Corning's global infrastructure, will allow the new entity to better meet customer needs for innovative solutions. We look forward to building a bright future together with their talented team."
Commenting on the transaction, John Ferrara, Founder and President of Capstone added, “This is a significant transaction in the Connectivity industry and an amazing entrepreneurial story. Dom Tran and Jack Cho built a market leader in data center connectivity solutions and the combination with Corning gives them virtually endless firepower and a vast reach. This is one of the better deals we have seen completed in the industry since we formed our Connectivity Group over a decade ago.”