The firm is expected to make a return of eight time from the sale, which valued the business at over £14m.
The company posted revenues of £14.6m in the fiscal year to end April.
Advanced Electronics’ main manufacturing facility is based in Newcastle with additional commercial offices in the UK, USA and Dubai.
Last November Connection Capital and Mobeus Equity Partners provided a combined debt and equity package to support the £15.9m management buy-out of specialist retailer Virgin Wines.
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