Britain’s Cobham plc in January sold its surveillance business to Marlin Equity Partners for $10 million.
The transaction closed on Jan. 14. The Surveillance Business (TSB) is dually headquartered in Florida and Britain and serves customers in countries worldwide.
The Surveillance business includes video, audio, tagging, tracking and locating, advanced cellular monitoring and intercept products for customers that include intelligence agencies, national law enforcement organizations, special forces, critical infrastructure and broadcast markets.
Dan Gelston will continue to lead The Surveillance Business as part of Marlin.
“With Marlin, we have gained a strategic partner with deep corporate divestiture experience and a strong track record of growing global companies,” Gelston said in a statement. “TSB’s market leading positions in technologically innovative surveillance equipment combined with Marlin’s operational expertise will provide TSB’s customers with unmatched products and service.”
Ryan Wald, a partner at Marlin, said the deal positions TSB “to execute on its growth plan.”
TSB was part of Cobham’s Communications and Connectivity sector.
Houlihan Lokey served as Cobham’s financial adviser on the transaction.