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.
Belden Inc. announced that it has agreed to acquire Thinklogical from Boston-based PE firm Riverside Partners in a deal worth $160 million. Thinklogical is a developer and manufacturer of high-performance fiber optic-based video and switching equipment used for real-time enterprise video management by clients in markets including military and broadcasting. The company generated 2016 revenues of $51 million and EBITDA of $12 million. The deal is expected to close in the second quarter of 2017.
Constellis announced that it has agreed to acquire Centerra Group LLC, a government and critical infrastructure services company owned by Alvarez & Marsal Capital. Constellis is also private equity-owned, having been acquired by Apollo Global Management in 2016. Based in Palm Beach Gardens, Florida and with approximately 9,000 employees worldwide, Centerra provides security, fire suppression, and base operations support to US Government clients. The company also provides humanitarian focused services and training to the United Nations and foreign governments.
The transaction is expected to close in the second quarter of 2017. Deal terms were not disclosed. Financing for the deal is being provided by Credit Suisse, Barclays, Citi and Goldman Sachs.
Red Hawk & Security LLC announced that it has acquired Integrated Systems of Florida (ISOF). Based in Tampa, Florida, ISOF is a systems integration company serving customers in healthcare, government, religious and educational institutions. Red Hawks is owned by Comvest Partners which acquired the business from United Technologies Corporation in 2012. Deal terms were not disclosed.
SOS Security LLC announced that it has acquired the operating assets of New Horizon Security Services Inc., a provider of manned security services in Virginia. Based in Manassas, VA and employee over 800 employees, New Horizon serves commercial, residential, and state and local government clients. The company generated revenues of $21.8 million in 2015 according to Inc. Deal terms were not disclosed.
L-3 Communications announced that it has acquired UK-based MacDonald Humfrey (Automation) Ltd. for a purchase price of $280 million plus an earnout of up to $37.5 million subject to its performance during calendar years 2017 to 2019. MacDonald Humfrey deploys aviation checkpoint security solutions and develops automation and collaborative robotic capabilities in the aviation and adjacent markets. The company has 350 employees and is projected to generate revenues of approximately $135 million in calendar year 2017 and EBITDA of approximately $28 million (based on a stated EBITDA multiple of 10 times). MacDonald Humfrey will operate as part of the L-3 Security & Detection Systems division which is part of the company's Electronic Systems business segment.
L-3 Communications announced that it has agreed to acquire the explosive trace detection (ETD) business of Implant Sciences Corporation for $117.5 million cash, plus the assumption of specified liabilities. The consummation of the asset purchase will be subject to the approval of the U.S. Bankruptcy Court.
As part of the transaction, L-3 will acquire the worldwide rights to Implant Science's QS-B220 desktop and QS-H150 handheld ETD systems as well as other product and technology assets. The ETD systems have been deployed in over 70 countries for aviation security, infrastructure protection, mass transit security, military operations, and corporate security. In addition, the systems have approvals and certifications from various agencies including TSA, the European Civil Aviation Commission and the Ministry of Public Safety in China.
Implant Sciences will use the proceeds to pay its creditors and proceed with its strategic plan. The company was advised by Chardan Capital Markets LLC and Noble Financial Capital Markets.
OSI Systems Inc. announced that it has completed its acquisition of American Science and Engineering Inc. (AS&E) in a deal worth $37 per share or approximately $269 million. AS&E is a provider of detection solutions for cargo and personnel inspection. The acquisition provides OSI with additional inspection capabilities based on X-ray backscatter technology including the Z Backscatter Van and MINI Z portable backscatter based inspection.
Sciens Building Solutions, a Huron Capital Partners LLC portfolio company, announced that it has acquired WSA Systems-Boca Inc. WSA designs, installs, and provides maintenance services for fire detection and suppression systems to both commercial and government clients. The company also provides security solutions including access control, CCTV, and mass notification systems.
Sciens was formed in 2015 by Huron in partnership with Terry Heath, a former Siemens executive, to acquire companies in the fire detection and security services sector. Deal terms were not disclosed.
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