Private equity firm Behrman Capital has acquired National Hybrid Inc. for $32.5 million.
Behrman made the purchase through Data Device Corp., which provides data communication and control technology. National Hybrid was sold by API Technologies Corp. (Nasdaq: ATNY).
National Hybrid designs and manufactures military standard data networking technology, and specializes in critical components for the defense and aerospace sectors. The company’s products include data bus transceivers and terminals, high-density multi-chip modules and custom micro-electronic circuits.
The target will be added on to Data Device to expand the company’s product offerings.
API bought National Hybrid in 2007 for $9.75 million in cash to strengthen its product offerings and research and manufacturing capabilities.
Behrman, headquartered in New York and San Francisco, was founded in 1991. The firm invests in health care, specialty manufacturing, business-to-business outsourcing, defense and information technology businesses. Behrman has raised five funds with more than $3 billion in investments. Besides Data Device, the firm’s portfolio companies include Athena Diagnostics, Hunter Defense Technologies and Peacock Engineering Co. LLC.
Latham & Watkins served as legal counsel to Behrman and Data Device.