DALLAS – APRIL 8, 2008 – Generational Equity, an advisor to privately held and family-owned businesses for mergers, acquisitions, and strategic growth initiatives, today announced the sale of a majority interest in its client Nivisys Industries, LLC, a Tempe, Ariz.-based company specializing in the manufacturing and distribution of defense and surveillance technology, to Relativity Capital, a private equity firm based in Arlington, Va. The value of the transaction was not disclosed.
Nivisys is a rapidly-growing, profitable and well respected manufacturer and distributor of standard and proprietary ruggedized, image-intensified thermal, night vision, laser and tactical illumination products that are used extensively worldwide by military, government and law enforcement agencies. Nivisys designs and builds tactical low-light imaging systems around proven sensor technologies using Military-Off-the-Shelf (MOTS) components for added reliability. The company is a systems manufacturer and integrator that develops systems in-house, is an authorized repair and test center, as well as a master component distributor. The company’s products include thermal and image intensified night vision systems for use for land, underwater and aviation applications.
As part of the transaction, Nivisys vice president of international sales, Allen Harding, will immediately assume chief executive officer responsibilities for the company. “We are very excited about this partnership and the resources it will bring to Nivisys to continue the strong growth of the Company and enable us to rapidly bring additional thermal and other products to the market,” Harding said.
Byron Harding will remain with the company as a significant shareholder and immediately assumes his new role as chairman emeritus for the company. “As a result of our relationship with Generational Equity, we had several options available to us toward meeting our strategic goals with a range of different investors but we felt most comfortable partnering with Relativity Capital. Relativity’s industry relationships should catapult Nivisys into a stronger market position,” Byron said.
Relativity Capital intends to leverage its team’s extensive experience in the defense industry to assist the company’s expansion into new markets. The company is also actively seeking complementary add-on acquisitions.
“Nivisys is a successful company with a proven record of success. We are pleased to work closely with Nivisys’ skilled management team and build on our own experience in the defense industry to bring the company to the next level,” said Leslie Armitage, co-founder and senior managing director of Relativity Capital.
“Nivisys received several competitive offers, but Relativity’s experience in the defense industry made it a perfect fit for Nivisys,” said Tom Staszak, Generational Equity’s managing director on the deal. “We’re pleased that our efforts have brought these two highly compatible firms together.”
The deal was financed by Capital Source, Inc., a specialized finance company based in Chevy Chase, MD. Nivisys Industries, LLC was ably represented in the transaction by a team led by Paul Lynch and Greg Yadley at Shumaker, Loop & Kendrick. Relativity Capital was ably represented in the transaction by a team led by Bill Mutryn and Jonathan Wolcott at Holland & Knight.
About Generational Equity
Generational Equity assists privately held and family-owned businesses in completing mergers, acquisitions, divestitures and strategic growth initiatives. Generational Equity has more than 300 professional advisors and affiliates nationwide and is headquartered in Dallas, with affiliate offices in New York, Chicago and Irvine, Calif. For more information, contact Generational Equity at (877) 213-1792 or info-us@Genequityco.com, or visit www.Genequityco.com.
About Nivisys
Nivisys Industries, LLC is a technology company specializing in defense and surveillance equipment, including binoculars, cameras, and lasers. Headquartered in Tempe, Ariz., the firm provides tactical equipment within the defense industry. For more information visit www.nivisys.com
About Relativity Capital
Relativity Capital, with offices in Arlington, Va. and New York, is a private equity firm focused on providing capital to middle market companies. Industries targeted for investment generally include aerospace/defense, industrials, business services, healthcare services and other opportunities. The firm’s Co-Founders, Leslie L. Armitage and Joyce Johnson-Miller have more than three decades of private equity experience, obtained mostly through senior positions at The Carlyle Group and Cerberus Capital Management.
About Capital Source, Inc.
Capital Source, Inc., a specialized finance company, provides various financial products to small and medium-sized businesses in the United States. The firm was founded in 2000 and is headquartered in Chevy Chase, Md. It operates through three divisions: corporate finance, healthcare and specialty finance and structured finance. The corporate finance division provides senior and mezzanine loans to businesses backed by private equity sponsors. The healthcare and specialty finance division offers asset-based revolving lines of credit, first mortgage loans and senior and mezzanine loans to healthcare businesses and other companies. The structured finance division provides commercial and residential real estate lending and asset-based lending to finance companies. |