The private equity firm Arlington Capital Partners last Friday said it has acquired EOIR Technologies, Inc., giving it a solid defense business with a number of contracts in the C4ISR area.
Terms of the deal were not disclosed. Arlington Capital said it plans to grow EOIR with additional acquisitions.
“As an early mover in smart sensors, video analytics and directed energy research, EOIR is well positioned to address the country’s key technical priorities,” Michael Lustbader, a managing partner at Arlington Capital, said in a statement. “We plan to grow the company through complementary strategic acquisitions to create a mid-sized, agile platform that is focused on delivering differentiated solutions to the national security community.”
Lustbader said internal and acquired investments in EOIR will be used to “expand its capabilities into new areas for broader support of the current customer base, as well as bring EOIR’s deep technical expertise into new markets.”
Peter Cannito of EOIR has been named the company’s CEO. Before his new position, he was head of Strategic Initiatives and Corporate Development for the company. Cannito said the deal will accelerate the company’s growth. Joe Macklin, EOIR’s former CEO, will remain as member of the board.
Earlier this year, Arlington Capital acquired the defense business of iRobot and renamed it Endeavor Robotics.
EOIR’s financial adviser on the deal was Houlihan Lokey. EOIR is based in Virginia.