Kanders & Company Completes Acquisition of Antenna and Test Equipment Businesses from L3Harris

Launches Fisica, Kanders' New Defense Technology Platform

PALM BEACH, Fla., June 3, 2024 /PRNewswire/ -- Kanders & Company, Inc. ("Kanders"), a U.S.-based single-family office, announced today the completion of its previously announced acquisition of certain antenna and test equipment businesses from L3Harris Technologies (NYSE: LHX) for $200 million.

The acquired ATI, Datron and Randtron businesses will operate under Fisica, Inc. ("Fisica"), Kanders' defense technology platform, and manufacture airborne and ground-based antennas, and electromagnetic systems and simulators for applications across radar, communications, warning systems, remote sensing, nuclear effects testing and imaging. Fisica, which is based in San Leandro, Calif., with additional operations in Menlo Park and Simi Valley, Calif., is well positioned for continued growth as a critical partner for flagship defense primes and the U.S. Department of Defense. Additional information about Fisica can be found at https://www.fisica.com.

"We are pleased to complete this transaction and launch Fisica, a defense industry platform positioned to grow organically and through targeted acquisitions," said Warren B. Kanders, President of Kanders and Executive Chairman of Fisica. "Alongside the talented existing management team, I look forward to leveraging and building on Fisica's outstanding portfolio to serve a growing need in the electronic warfare and communications industry. I view these businesses as an excellent starting point to think expansively and opportunistically about growth in the broader defense space."

Warren B. Kanders will serve as Executive Chairman of Fisica. The businesses will be led on a day-to-day basis by President Mark Rayner and Chief Financial Officer Christopher Prabhu.

Mr. Rayner has over 30 years of experience in satellite communications, electronic protection and support, and antenna technology. Prior to the transaction he was serving as General Manager overseeing these businesses for the seller, and his prior experience includes time at TRW Inc.

Mr. Prabhu joined the seller in 2019 as CFO of the ATI business and following a series of consolidations, grew to oversee all the businesses as finance lead. He has over 20 years of aerospace and defense industry experience with companies such as Dover Corporation, GE Aviation, Triumph Group, and IMPEX.

Three well-respected independent directors will round out the leadership of Fisica, including:

• Hamish Norton is the President of Star Bulk Carriers Corp. and in addition to a distinguished career in finance and shipping, has an undergraduate degree in physics from Harvard College and a Ph.D. in physics from the University of Chicago.
• Lisa Randall is the Frank B. Baird, Jr., Professor of Science at Harvard University, having previously taught at MIT, Princeton University, and University of California-Berkeley. Professor Randall is a bestselling author and her studies have made her among the most cited and influential theoretical physicists. She has an undergraduate degree and a Ph.D. in physics from Harvard University.
• Neil deGrasse Tyson is a well-known astrophysicist and author who received an undergraduate degree in physics from Harvard College, and a PhD in astrophysics also from Columbia University.

About Kanders & Company, Inc.

Kanders & Company, Inc., based in Palm Beach, Florida, is a single-family office owned and controlled by Warren B. Kanders. Mr. Kanders has more than 35 years of experience investing in public and private companies across a variety of sectors, acting as an active strategic partner for enhancing operating discipline and catalyzing long-term growth.

About Fisica

Fisica, Inc. is a leading defense products manufacturer that was formed to acquire the Randtron, Datron and Applied Technologies Inc. businesses, establishing a platform that designs and produces airborne antennas, ground-based antennas, and electromagnetic systems and simulators. Headquartered in San Leandro, Calif., with additional operations in Menlo Park and Simi Valley, Calif., the company has approximately 375 employees.

Contacts:

Kanders & Company
Gray Hudkins
[email protected]
(203) 550-7148

Media
Aura Reinhard / Tim Ragones
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

SOURCE Kanders & Company, Inc.