Stout Advises PLX on Its Recapitalization
Stout announced today that its client, PLX Inc., has been recapitalized by way of a management buyout led by PLX’s COO, Itai Vishnia, who is a 24-year veteran of the company. In conjunction with the transaction, Mr. Vishnia has assumed the role of CEO and will continue to lead PLX’s growth strategy. Stout served as the exclusive financial advisor to PLX in connection with this transaction.
Founded in 1955 and headquartered in Deer Park, NY, PLX is a leading supplier of proprietary, highly engineered, precision optical instruments and assemblies for military, aerospace, space, and other commercial/industrial applications. PLX’s proprietary, Monolithic Optical Structure Technology (M.O.S.T.TM) integrates complex optical elements into compact monolithic structures, achieving exceptional accuracy and stability under severe environmental conditions. PLX’s highly technical optical systems are essential to major U.S. and international platforms, including the U.S. military’s Apache, Abrams Tank, and TOW missile programs, and NASA’s ICESAT-2 satellite program.
Keith Sipes, Managing Director and Head of Stout’s Global Technology, Media, and Telecommunications investment banking practice, led the execution and transaction process. Stout’s Mike Krakovsky and Mitesh Bhatt also assisted on the deal.
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