NEW YORK, April 12, 2016 /PRNewswire/ -- Behrman
Capital, a private equity investment firm based in New York and San
Francisco, today announced that its portfolio company Data
Device Corporation ("DDC" or "the Company"), a leader in
high-reliability connectivity, power, and control solutions for
aerospace, defense, and industrial applications, has entered into
an agreement to acquire the Microelectronics Business of Maxwell
Technologies, Inc. (Nasdaq: MXWL), for a total consideration of
$21 million.
Maxwell's Microelectronics Business is a leading developer and
manufacturer of innovative, cost-effective, space-qualified
microelectronics solutions for satellites and spacecraft. It
produces radiation-hardened single board computers and components
such as high-density memory and power modules. Many of these
products incorporate proprietary packaging and shielding technology
and novel architectures that enable them to withstand the effects
of environmental radiation and to perform reliably in space.
Grant G. Behrman, Managing
Partner of Behrman Capital, said, "We are very pleased that DDC
will acquire Maxwell's Microelectronics Business, which is highly
complementary to DDC's strong existing space solutions
capabilities. DDC has made exceptional progress in recent years
through strategic acquisitions and other initiatives. We look
forward to working with Vince Buffa
and his management team in the coming years to continue to build on
DDC's leading position in its markets."
Vincent Buffa, President and CEO
of DDC, stated, "The acquisition of Maxwell Technologies'
Microelectronics Business greatly expands DDC's solution
capabilities for the space industry and other markets requiring
radiation hardened solutions. We are all very excited about the
addition of the Microelectronics Business to the DDC family and the
resulting value that our combined best-in-class connectivity, power
and motion control solutions will provide the space industry."
The transaction is expected to close by the end of April 2016.
About Behrman Capital
Based in New York City and
San Francisco, Behrman Capital was
founded in 1991 by Grant G. and Darryl G.
Behrman. The firm invests in management buyouts, leveraged
buildups and recapitalizations of established growth businesses.
The company's investments are focused in three industries: defense
and aerospace, health care services, and specialty manufacturing
and distribution. The firm has raised five funds with a combined
capital base in excess of $3.0
billion. For more information, please visit
www.behrmancap.com.
About Data Device Corporation
Data Device Corporation (DDC) is the world leader in the design and
manufacture of high-reliability data networking, power control, and
motion control solutions for aerospace, defense, and industrial
applications. For more than 50 years, DDC has continuously advanced
the state of high-reliability Connectivity, Power, and Control
technology with innovations that optimize efficiency, reliability,
and performance. DDC headquarters, design and manufacturing
operations are located in Bohemia,
NY. Visit www.ddc-web.com.
Contact
Mark
Semer or Peter Hill
Kekst
(212) 521-4800
mark-semer@kekst.com / peter.hill@kekst.com
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SOURCE Behrman Capital