Highlander Partners, L.P. last week said it has acquired DZYNE Technologies
, a developer and manufacturer of small unmanned aircraft systems (UAS) for the Defense Department and other agencies.
Terms of the deal were not disclosed.
The acquisition is the second by Highlander’s High Point Aerotechnologies division, which is focused on the UAS and counter-UAS areas. In November 2022, the private equity firm acquired Liteye Systems, which provides counter-drone solutions for military and security applications.
DZYNE’s management will continue to lead the company and “maintain a significant ownership stake” going forward, Highlander said.
“We believe that Highlander and the focused High Point team bring the necessary government and military relationships, industry experience, manufacturing and operational expertise, and long-term strategic approach to support us in driving DZYNE to the next level,” Thomas Strat, DZYNE’s CEO, said in a statement.
DZYNE’s two products are both Group 1 UAS, the hand-launched fixed-wing EHL, which has a four-hour flight endurance that is powered by an electric propulsion system for quiet operations, and the DELTAsix vertical-take-off-and-landing aircraft, which has a 45-minute flight endurance. The company is also developing a new VTOL UAS it calls ROTORwing and has capabilities in tube-launched UAS.
DZYNE, which is based in California, says it integrates artificial intelligence into its aircraft. It also is focused on rapid prototyping.
Houlihan Lokey served as DZYNE’s financial adviser on the deal.