Veritas Capital has sold Continental Electronics Corp. to Lone Star CRA Fund, for an undisclosed amount. CEC provides digital and analog RF transmitter systems, and was advised on the sale by Houlihan Lokey Howard & Zukin.
PRESS RELEASE
Veritas Capital announced it has sold Continental Electronics Corporation (CEC) to Lone Star CRA Fund, LP. CEC specializes in the design, development, and manufacturing of leading-edge digital and analog radio frequency (RF) transmitter systems for the global market.
Houlihan Lokey Howard & Zukin acted as financial advisor to CEC. Financial terms of the transaction were not disclosed.
About Continental Electronics Corporation
Founded in 1946, Dallas-based Continental Electronics is a global leader in broadcast transmitter equipment. It is the foremost supplier of advanced RF transmission technology and the world’s most experienced designer and builder of the highest power radio broadcast equipment, providing a full range of products for broadcasting, military and scientific applications. Continental Electronics’ products are used in more than 100 countries around the world. For more information, please visit http://www.contelec.com.
About Veritas Capital
Veritas Capital is a private equity investment firm headquartered in New York. Founded in 1992 by Robert B. McKeon, Veritas invests primarily in companies specializing in outsourcing services to the government. Veritas’ portfolio of companies includes, or has included, DynCorp International, Vangent, Inc., Aeroflex, Inc., Integrated Defense Technologies, Athena Innovative Solutions, and McNeil Technologies, among others. Veritas is dedicated to providing the highest level of critical services and equipment to the defense and federal sectors around the world. For more information, please visit http://www.veritascapital.com.
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