JF Lehman & Company acquires Narda-MITEQ | State

NEW YORK, December 7, 2021 / PRNewswire / – JF Lehman & Company (“JFLCO”), a mid-size private equity firm specializing exclusively in the aerospace, defense, marine, government and environmental industries, is pleased to announce that an investment subsidiary has completed the acquisition of the assets of the Narda-MITEQ division and the shares of Narda Safety Test Solutions, GmbH (collectively, “Narda-MITEQ” or the “Company”) by L3Harris Technologies, Inc. (“L3Harris” (NYSE: LHX)).

Narda-MITEQ is a market leader in the design, engineering and manufacture of custom radio frequency (“RF”) and microwave subsystems and components for the defense and commercial end markets. The company’s industry-leading solutions facilitate the conditioning, management and transfer of RF and microwave energy in demanding operating environments across a variety of radar, space, test and measurement and measurement applications. intelligence, surveillance and reconnaissance. With a heritage dating back to 1953, Narda-MITEQ employs around 400 people in three facilities in Hauppauge, NY, Pfullingen, Germany and Cisano, Italy.

“Narda-MITEQ has built an exceptional reputation for providing innovative RF and microwave solutions that meet the specifications of the most demanding customers,” said Glenn shor, partner of JFLCO. “We are delighted that the company is joining our portfolio and believe that Narda-MITEQ fits perfectly with our established investment strategy given its portfolio of highly technical and proprietary products, its diverse customer base and its legacy of customer support. defense and government end-markets. ” Ben hatcher, a vice president of JFLCO, added, “We believe that Narda-MITEQ is well positioned to grow as an independent entity and we are delighted to support the company’s continuation in its organic and acquisitive growth initiatives.

Bob tavares, who will join the company as CEO, commented, “JFLCO is the ideal partner for the company given its extensive experience in the company’s target markets and its substantial capital to accelerate our innovation and drive the growth of Narda-MITEQ. We look forward to expanding our portfolio of RF and microwave solutions and services to our customers in government and commercial markets. “

Debt financing for the transaction was provided by Barings Finance and Siemens Financial Services. Shearman & Sterling served as JFLCO’s senior legal advisor. Baker Hostetler has provided government contracts, advice on defense security and international trade and Jones Day acted as an advisor for debt financing. Houlihan Lokey and Holland & Knight served as financial and legal advisors to L3Harris, respectively.

About JF Lehman & Company, Inc.

Founded in 1992, JF Lehman & Company is a mid-size private equity firm specializing exclusively in the aerospace, defense, marine, government and environment industries. The company has offices at new York and Washington DC

For more information on JF Lehman & Company, please visit www.jflpartners.com.

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SOURCE JF Lehman & Company

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