Behrman Capital Sells Hunter Defense Technologies in $335 Million Transaction to Metalmark Capital.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 -- Behrman Capital, a private equity investment firm based in New York 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 , and Metalmark met·al·mark n. Any of several small, darkly colored butterflies of the family Riodinidae, occurring mainly in tropical regions and having iridescent lines or spots on the wings. Capital, a New York-based private equity firm, announced today that Metalmark Capital has completed the acquisition of Hunter Defense Technologies, Inc., a manufacturer of military and homeland defense products, from Behrman Capital in a transaction valued at $335 million. Headquartered 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 leading supplier of mobile military and emergency response solutions including rapidly deployable shelters, highly engineered environmental control and power equipment, and nuclear, biological and chemical protection systems. "Since our acquisition of Hunter in 2003, the business has realized substantial organic growth as well as growth through acquisitions," said Grant G. Behrman, Managing Partner of Behrman Capital. "Our strategy was to leverage this growth to transform the company from a niche product manufacturer into a leading provider of mobile military systems. The Hunter team has firmly established the company as a valued partner for its customers, providing innovation, technical advancement and the highest quality in its product areas." Behrman Capital generated a return on its investment in Hunter of over 2.5x and an IRR IRR In currencies, this is the abbreviation for the Iranian Rial. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. of 31% for its limited partners. Since May of 2005 the firm has generated gross proceeds of $1.4 billion across its three funds. "In the space of a few years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Hunter team has done an excellent job of managing the complexities of rapid growth," said Howard I. Hoffen, Chairman and Chief Executive Officer of Metalmark Capital. "We are very excited to begin our partnership with Hunter and look forward to working with the company to build on its past success by enhancing current product lines and expanding into adjacent areas." Behrman Capital acquired Hunter in December 2003 in a transaction valued at approximately $90 million. In March of 2005, Hunter expanded its product offering with the acquisition of Base-X, Inc., a leading manufacturer of rapidly deployable tactical shelters for military, medical, and homeland defense uses, in an $80 million transaction. In October of 2005, Hunter acquired PowerSystems International, a developer of power generation systems, and environmental control units for military applications. Vince Nardy, Chief Executive Officer of Hunter, said, "In 2004, we committed to grow Hunter's business, leveraging our strong intellectual property base and advanced technology to provide comprehensive product offerings for the benefit of our customers. We have made substantial strides over the last few years, and we look forward to beginning a new phase of growth in partnership with Metalmark." Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. acted as financial advisor to Behrman Capital in connection with the transaction. Goodwin Procter Goodwin Procter LLP is a law firm based in the United States, with a team of 750 attorneys serving clients through offices in Boston, Los Angeles, New York City, San Diego, San Francisco, Washington, D.C. and Palo Alto. LLP LLP - Lower Layer Protocol provided legal counsel to Behrman Capital. Houlihan Lokey acted as financial advisor to Metalmark Capital in connection with the transaction. Kirkland & Ellis LLP provided legal counsel to Metalmark Capital. About Metalmark Capital Metalmark Capital is an independent private equity firm whose principals have a long track record of successful investing in a wide range of industries, including their core areas of expertise - industrials, healthcare, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , energy and other natural resources. The firm was founded to manage the Metalmark Capital private equity funds and the Morgan Stanley Capital Partners private equity funds, on a subadvisory basis. For more information, please visit www.metalmarkcapital.com. About Behrman Capital: 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 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 primarily focused in five industries: defense, specialty manufacturing, health care, outsourcing and information technology. The firm currently has a combined capital base in excess of $1.8 billion. For more information, please visit www.behrmancap.com. |
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