NEW YORK, January 7, 2004 — Behrman Capital, a private equity investment firm based in New York and San Francisco, 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, Hunter is a leader in the design and manufacture of niche defense and homeland security 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, 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 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 and San Francisco, Behrman Capital was founded in 1991 by Darryl G. and Grant G. Behrman. The firm invests in management buyouts, 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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For Behrman Capital:
David Lilly / Michael Freitag
Kekst and Company