Warburg Pincus in Recapitalization of iNRCORE

Cleary Gottlieb is representing Warburg Pincus LLC (Warburg Pincus) in the recapitalization of iNRCORE LLC (iNRCORE), a portfolio company of TJC L.P. (TJC).

iNRCORE publicly announced on October 3, 2023, that it had entered into a definitive agreement with funds advised by TJC and funds advised by Warburg Pincus to recapitalize the company. iNRCORE was acquired by TJC in February 2020 through an affiliate of The Resolute Fund IV L.P. Additional terms of the transaction were not publicly disclosed.

iNRCORE is a premier supplier of high-reliability products including magnetics and other passive electronic components that transmit high-speed, mission critical data and power under extreme conditions for demanding industrial technology markets, including commercial aviation, government, space, smart-grid, medical, semiconductor, and other high-reliability industrial applications. iNRCORE benefits from strong, long-term relationships with its blue-chip customer base that are difficult for competitors to replicate due to the designed-in nature of its products and global manufacturing capabilities. Long-term product cycle dynamics provide for significant revenue visibility and design position on next generation platforms. Headquartered in Bristol, Pennsylvania, iNRCORE currently has approximately 1,000 employees.

For more information, please see the press release here.