Semicoa Returns to the Military and Hi-Rel Component Industry After a Year

Costa Mesa-based Semicoa Corporation has announced its return to the Military and Hi-Rel component industry after one year absence.

Semicoa said that it returns with solid financial backing from Los Angeles-based private equity firm Vance Street Capital.

“The Semicoa team is excited to again support those customers whose determination has enabled us to re-enter the market and to re-establish constructive working relationships, said Perry Denning, president at Semicoa, adding that without the determined effort of the customer base and Vance Street, this could not have taken place.

In addition to its extensive Bi-Polar transistor portfolio, Semicoa also plans to introduce several new product offerings in the discrete semiconductor marketplace.

Denning said that Vance Street has worked with the company for over a year to ensure that the new Semicoa is established with the financial backing necessary to execute its product plans.

“In the coming months we will reveal the details of our new plans to support our customers with the same high levels of quality and service Semicoa has provided in the past,” said Denning.

According to media reports, company returns to the Military and Hi-Rel component industry after a settlement by semiconductor firm Microsemi (News - Alert) with the U.S. Department of Justice. The settlement is said to have triggered the sale of Semicoa to Vance Street Capital.

Last year in July, Microsemi purchased Semicoa. Reportedly, soon after the acquisition, Microsemi 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.

Earlier this month, Microsemi announced that it has sold the assets of Semicoa to a third party, and in connection with this sale, the U.S Department of Justice has settled its civil action against the company.