Behrman Capital Acquires Hunter Defense Technologies, Inc.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 7, 2004 Behrman Capital, a private equity investment firm based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , announced today that it has acquired Hunter Defense Technologies, Inc., a privately held manufacturer of military and homeland defense products. The Company's senior management is also participating in this transaction, which has an aggregate value of approximately $90 million. Based in Solon, Ohio Solon (pronounced Sew-len) is a city in Cuyahoga County, Ohio, and is a suburb of Cleveland in the Northeast Ohio Region, the 14th largest Combined Statistical Area in the United States. As of the 2000 census, the city population was 21,802. , Hunter is a leader in the design and manufacture of niche defense and homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States products. Its primary product lines include nuclear, biological and chemical collective protection air filters and air filtration systems for military and homeland security applications, as well as highly-engineered heating equipment for military vehicles Military vehicles include all land combat and transportation vehicles, excluding rail-based, which are designed for or are in significant use by military forces. See also list of armoured fighting vehicles. , tents and shelters. "Behrman Capital is pleased to partner with management in the buyout of Hunter Defense, the leading provider of air filtration and heating products to the Department of Defense," said Grant G. Behrman, Managing Partner of Behrman Capital. "Under the leadership of CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Vince Nardy, the current management team has added numerous technologically advanced heating products and aggressively grown all segments of the business. Management has built a strong intellectual property base and excellent long-term relationships with their customers. Further, the business is well positioned to grow in response to the increased focus on homeland security. We believe Hunter is a great fit with our firm's investment philosophy, and we look forward to helping the company continue its growth." Vince Nardy, Chief Executive Officer of Hunter, said: "Since inception, Hunter has developed an excellent reputation for manufacturing high quality and leading-edge products. With Behrman Capital's support we will continue to expand our production capacity, develop new products to meet the needs of our military customers and accelerate our growth in the homeland security market." Based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and San Francisco, Behrman Capital was founded in 1992 by Darryl G. and Grant G. Behrman. The firm invests in management buyouts Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. , leveraged buildups and recapitalizations of established growth companies and provides expansion capital to emerging growth companies. The company's investments are focused primarily in four industries: information technology, business services, contract manufacturing, and outsourcing. The firm currently has a combined capital base exceeding $1.8 billion. |
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