KRG Capital-backed Convergint Technologies announced that it has acquires SigNet Technologies, a full-service security systems integrator that provides services to clients including government agencies. SigNet is the 16th acquisition for Convergint under KRG's ownership. Deal terms were not disclosed.
OSI Systems announced that it has completed its previously announced acquisition of the former Morpho explosive trace detection (ETD) business from Smiths Group plc., which acquired the business in April as part of its acquisition of Morpho Detection. The purchase price is $75.5 million is cash and subject to net working capital adjustment. Based in Andover, Massachusetts, ETD has a global installed base of 11,000 units.
Ultra Electronics Holdings plc announced that it has agreed to acquire Sparton Corporation for $23.50 per share or an equity value of $234.8 million. The deal equates to a pro forma FY2016 EV/EBITDA multiple of 7.6x. Based in Schaumburg, Illinois, Sparton provides sophisticated engineered products and manufacturing services for electromechanical devices to clients in markets including aerospace, military, medical, biotechnology and industrial. Wells Fargo Securities and Raymond James & Associates represented Sparton while RBC advised Ultra electronics.
Mercury Systems Inc. announced that it has acquired Richland Technologies LLC (RTL), a company that specializes in safety-critical and high integrity systems, software, hardware development, and safety-certification services for mission-critical applications. RTL serves the commercial and military aerospace markets. Deal terms were not disclosed.
National Technologies Associates Inc. (NTA) announced that it has acquired V1 Analytical Solutions, a provider of intelligence and information solutions, special activity support and training for defense and intelligence customers including special forces. Indian River Advisors advised NTA on the transaction while Rock Hall Partners advised V1. Deal terms were not disclosed.
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