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Completed Transactions > Manufacturing > Nivisys acquired by Relativity

Nivisys acquired by Relativity



Apr 2006



Nivisys Industries, LLC, a Tempe, Ariz.-based company specializing in the manufacturing and distribution of defense and surveillance technology, has been acquired by 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 inhouse, 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. “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. 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.

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