The private equity firm Arlington Capital Partners on Monday said it completed its acquisition of L3Harris Technologies’ [LHX] Electron Devices and Narda Microwave-West divisions, which will operate as an independent company called Stellant Systems.
The $185 million cash deal was first announced in August. Arlington Capital acquired the businesses in partnership with current business unit leadership.
Stellant Systems has more than 800 employees located at three facilities in Torrance and Folsom, Calif., and Williamsport, Pa. The company provide radio frequency amplification products for the space, electronic warfare, radar, medical, scientific and industrial markets. Stellant is the only domestic provider of space-qualified traveling wave tubes.
Stellant’s CEO is Paul Russell, who previously led L3Harris’ Electron Devices division. John Hahn and Nick Gritti, who were also executives at Electron Devices, will serve, respectively, as chief financial officer and executive vice president of strategy and business development for Stellant.
Russell said in a statement that “Arlington brings deep experience investing in the most sensitive areas of the national security end market and bring an M&A and enterprise-building expertise that will support Stellant’s growth on a standalone basis.”
Arlington said it plans to accelerate Stellant’s growth through organic investment and acquisitions.
Harris Williams served as Arlington’s financial adviser on the deal and L3Harris was advised by Houlihan Lokey.
The sale of the Electron Devices and Narda Microwave-West divisions is part of L3Harris’ divestiture of non-core businesses, which is nearing completion.