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04 May 017. Belden Enters Definitive Agreement to Acquire Thinklogical for $160m. Belden Inc. (NYSE: BDC), a global leader in high quality, end-to-end signal transmission solutions for mission-critical applications, today announced that it has entered into a definitive agreement to acquire privately held Thinklogical, a leading global provider of large scale video and data distribution systems, from Riverside Partners, a Boston-based private equity firm, for $160m. The transaction will be financed with cash on hand and is expected to close in the second quarter 2017, subject to regulatory approvals and other closing conditions.
Highlights
• Significantly enhances Belden’s Broadcast Solutions platform by adding a technology leader with one-of-a-kind, mission-critical solutions;
• Allows Belden to enter the market for secure, high-performance Keyboard/Video/Mouse (“KVM”) switching hardware;
• Generated 2016 revenues, net income, and adjusted EBITDA of approximately $51m, $12m, and $17m, respectively;
• Accretive to GAAP and adjusted earnings per diluted share by approximately $0.04 and $0.27, respectively, in the first full year of ownership.
Headquartered in Milford, Connecticut, Thinklogical is widely regarded as one of the world’s foremost developers and manufacturers of high performance fiber-optic-based video and switching equipment. The Company’s products are used for real time enterprise video management (including switching and transmission of high quality video and peripheral signals) across a variety of end markets, including military, command and control, broadcast, etc.
“We are extremely excited to welcome the talented Thinklogical team to the Belden family,” said John Stroup, President, CEO, and Chairman of Belden. “The business is uniquely well-positioned for success, given its numerous market growth drivers, industry-leading proprietary products, and difficult-to-obtain intelligence & defense accreditations. This is a very compelling opportunity for Belden that provides additional opportunities for profitable growth in our Broadcast Solutions platform.” (Source: BUSINESS WIRE)
04 May 017. J.F. Lehman & Company (“J.F. Lehman”), a leading middle-market private equity firm focused on the defense, aerospace and maritime sectors, is pleased to announce that an investment affiliate has acquired PSSC Holding Co. and its wholly owned subsidiary, BEI Precision Systems & Space Company, Inc. (collectively, “BEI PSSC” or the “Company”). BEI PSSC is a leader in high-accuracy positioning sensor technologies, providing advanced design, manufacturing and testing for reliable and resilient products and systems. The Company’s core product lines, which are used primarily in mission-critical defense and space applications, include optical encoder-based positioning systems, scanners for situational awareness requirements and precision accelerometers. BEI PSSC is headquartered in Maumelle, Arkansas, and has a longstanding track record of technological innovation, with corporate roots dating back to 1862.
“BEI PSSC has an exceptional reputation for providing unique and highly accurate sensors to prime contractors and system providers in the defense and aerospace markets,” said Steve Brooks, Partner at J.F. Lehman. “The Company has a longstanding history supporting many important programs. We look forward to partnering with management to support the continued growth and future success of the business through organic development and complementary bolt-on acquisitions.”
Jones Day provided legal counsel to J.F. Lehman. Miller & Chevalier advised in the area of government contracting and import / export and defense security compliance. Debt financing for the transaction wa