Springfield-based manufacturer Positronic Industries Inc. has sold to a public company based in Wallingford, Connecticut.
Amphenol Corp. (NYSE: APH), a larger industry peer in the electronic connector manufacturing space, closed Jan. 25 on the purchase of Positronic, said David Kean, the new general manager of the local operation. The financial terms of the deal were undisclosed.
A Positronic employee since 2014, Kean took on the leadership role as part of Amphenol’s acquisition from the Gentry family. He said former Positronic CEO John Gentry is now serving as adviser and senior engineering director, with former company Vice President Bill Gentry also serving in an advisory role. Kean said a time frame to fulfill their advisory roles has not been set.
Positronic maintains its name and headquarters in downtown Springfield as a subsidiary of Amphenol, Kean said. He said there are no planned changes to the company's employee count of 375 people; they work downtown and at plants in northwest Springfield and Mount Vernon.
“On behalf of me and my siblings, we are pleased to announce this news," said John Gentry, who led the company as CEO 1996-2021, in a news release. "Amphenol Corp. values align well with the values instilled in our Positronic team, and we are excited about the future of the company.”
Amphenol stated in its most recent earnings report that Positronic has annual sales of approximately $80 million. During 2020, Amphenol's net income was $1.2 billion on $8.6 billion in sales, according to the report. The company designs, manufactures and markets electrical, electronic and fiber optic connectors, among other products.
Positronic was founded in 1966 by Jack Gentry, John Gentry's father, according to Springfield Business Journal archives. The company makes electronic connectors and cable assemblies for companies in the military aerospace, data communications and industrial markets.
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