BEI Precision Systems & Space Company Inc, a portfolio company of J.F. Lehman & Company, has acquired Loanhead, Scotland-based Thistle, a supplier of encoders, resolvers, and other positioning and measurement sensors. No financial terms were disclosed.
NEW YORK, Nov. 14, 2018 /PRNewswire/ — BEI Precision Systems & Space Company, Inc. (“BEI PSSC”), a portfolio company of J.F. Lehman & Company (“JFLCO”), announced today the recent acquisition of Thistle Design (MMC) Limited (“Thistle”) by one of its affiliates.
Headquartered in Loanhead, Scotland, Thistle is a supplier of encoders, resolvers, and other positioning and measurement sensors for the defense and industrial markets, primarily in the UK.
BEI PSSC is a leader in high-accuracy positioning sensor technologies, providing advanced design, manufacturing and testing for reliable and resilient products and systems. BEI PSSC’s core product lines, which are used primarily in mission-critical defense and space applications, include optical encoder-based positioning systems, scanners for situational awareness requirements and precision accelerometers. BEI PSSC is headquartered in Maumelle, Arkansas, and has a longstanding track record of technological innovation, with corporate roots dating back to 1862.
“Thistle is BEI PSSC’s first add-on acquisition and represents an important step in executing BEI PSSC’s strategy of augmenting organic development with complimentary add-on acquisitions,” said Steve Brooks, Partner at JFLCO. “Thistle’s dedicated engineering talent, proprietary suite of products, and focus on customer service represents a strong strategic fit with BEI PSSC’s core operating principles. We are looking forward to further serving our collective customer bases with this broadened portfolio of solutions,” added Will Hanenberg, Principal at JFLCO.
KippsDeSanto & Co. served as financial advisors to BEI PSSC and JFLCO and Jones Day (lead counsel) and Miller & Chevalier Chartered (international trade, government contracts and defense security compliance matters) provided legal counsel.
About J.F. Lehman & Company, Inc.
Founded in 1992, J.F. Lehman & Company is a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors. The firm has offices in New York and Washington, D.C.
For more information about J.F. Lehman & Company, please visit www.jflpartners.com.