The private equity firm Susquehanna Private Capital, LLC (SPC) on Monday said it has acquired a majority stake in defense and energy system contractor McNally Industries, LLC.
SPC acquired Wisconsin-based McNally from the private equity firm Gardner Standard, which retains a minority position in McNally.
Terms of the deal were not disclosed.
McNally supports a wide range of military platforms, including among others the Army’s Bradley fighting vehicle and Armored Multi-Purpose Vehicle, Black Hawk, Apache and Chinook helicopters, Navy DDG-51 destroyers, and several Army mortar systems. The company does product design and testing and build-to-print manufacturing.
McNally is experiencing growth and recently built a new 17,500 square-foot assembly and test facility at its Grantsburg, Wis., campus.
McNally’s “impressive manufacturing operations coupled with its advanced engineering and design capabilities serve as clear differentiators at a time when the industry is demanding more from its suppliers,” Kyle Squillario, director at SPC, said in a statement.
SPC said that as part of the deal, it has made a capital investment in McNally’s automated manufacturing technology to better meet customer demand.
“We believe McNally’s focus on legacy systems and aftermarket components to the defense industry align well with the U.S. Department of Defense’s stated goals and objectives,” Leo Helmers, group head of SPC, said in a statement.
KippsDeSanto & Co. served as Gardner Standard’s financial adviser on the deal.