NEW YORK, April 12, 2016 /PRNewswire/ -- Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that its portfolio company Data Device Corporation ("DDC" or "the Company"), a leader in high-reliability connectivity, power, and control solutions for aerospace, defense, and industrial applications, has entered into an agreement to acquire the Microelectronics Business of Maxwell Technologies, Inc. (Nasdaq: MXWL), for a total consideration of $21 million.
Maxwell's Microelectronics Business is a leading developer and manufacturer of innovative, cost-effective, space-qualified microelectronics solutions for satellites and spacecraft. It produces radiation-hardened single board computers and components such as high-density memory and power modules. Many of these products incorporate proprietary packaging and shielding technology and novel architectures that enable them to withstand the effects of environmental radiation and to perform reliably in space.
Grant G. Behrman, Managing Partner of Behrman Capital, said, "We are very pleased that DDC will acquire Maxwell's Microelectronics Business, which is highly complementary to DDC's strong existing space solutions capabilities. DDC has made exceptional progress in recent years through strategic acquisitions and other initiatives. We look forward to working with Vince Buffa and his management team in the coming years to continue to build on DDC's leading position in its markets."
Vincent Buffa, President and CEO of DDC, stated, "The acquisition of Maxwell Technologies' Microelectronics Business greatly expands DDC's solution capabilities for the space industry and other markets requiring radiation hardened solutions. We are all very excited about the addition of the Microelectronics Business to the DDC family and the resulting value that our combined best-in-class connectivity, power and motion control solutions will provide the space industry."
The transaction is expected to close by the end of April 2016.
About Behrman Capital
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company's investments are focused in three industries: defense and aerospace, health care services, and specialty manufacturing and distribution. The firm has raised five funds with a combined capital base in excess of $3.0 billion. For more information, please visit www.behrmancap.com.
About Data Device Corporation
Data Device Corporation (DDC) is the world leader in the design and manufacture of high-reliability data networking, power control, and motion control solutions for aerospace, defense, and industrial applications. For more than 50 years, DDC has continuously advanced the state of high-reliability Connectivity, Power, and Control technology with innovations that optimize efficiency, reliability, and performance. DDC headquarters, design and manufacturing operations are located in Bohemia, NY. Visit www.ddc-web.com.
SOURCE Behrman Capital