BLOOMFIELD HILLS, Mich., July 22, 2021--(BUSINESS WIRE)--O2 Investment Partners (www.o2investment.com) and Flip Electronics, LLC (www.flipelectronics.com) announced today that Dennis Segers is joining the Flip board of directors.
A 40-year veteran of the semiconductor industry, Dennis has served as a board member and advisor to numerous private and public companies. Dennis currently serves as Chairman of the Board for Xilinx Inc., the world’s leading provider of programmable logic integrated circuits. In addition, Dennis is an independent director for Parade Technologies, Ltd., a leading provider of display timing and control technologies for the consumer electronics industry. Before that, Dennis was an operating CEO of two VC-backed startups. Earlier in his career, Dennis worked in various roles as an operating executive at Xilinx, including Sr. VP and GM of the field-programmable gate array business units.
Dennis Segers commented, "End-of-life ("EOL") designation and product obsolescence are critical issues facing both original component manufacturers ("OCMs") and end customers alike and are only increasing in severity in today’s market. Flip’s unique, authorized approach helps OCMs and end customers successfully navigate this dynamic landscape. I am excited to join Flip’s board of directors to help the business as it continues to scale."
Jason Murphy, CEO of Flip, added, "Dennis brings a wealth of experience and professional skills that will provide valuable contributions to our team, particularly his deep understanding of product obsolescence issues facing OCMs. Dennis adds significant strength to our board by further diversifying the group’s skills and experiences. We are extremely pleased to have him as a member of the team."
Joe Vallee, Vice President at O2 Investment Partners, added, "Dennis’ experience in the semiconductor manufacturing space will bring an invaluable perspective to Flip that will help propel the business to the next level. We are lucky to have him as part of the team and welcome him aboard."
About O2 Investment Partners:
O2 Investment Partners is a Midwestern based private equity firm that seeks to acquire majority interests in lower middle market B2B services, technology, and select niche industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management. Additional information is available at www.o2investment.com.
About Flip Electronics, LLC:
Flip Electronics is an authorized specialty distributor of electronic components to customers across the U.S. and internationally, focused on EOL, obsolete, and hard-to-find parts through its authorized relationships with its original component manufacturer partners. Flip is headquartered in Roswell, GA. Additional information is available at www.flipelectronics.com.
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O2 Investment Partners
Joe Vallee, Vice President