Spectra, which is backed by Vance Street Capital, has acquired Galleon, an Oslo-based provider of commercial-off-the-shelf-based embedded computing solutions. No financial terms were disclosed.
ALPHARETTA, Ga.–(BUSINESS WIRE)–Spectra A&D Holdings LLC (“Spectra”), a diversified designer and manufacturer of highly engineered avionics and electronics solutions for leading aerospace and defense platforms, today announced the acquisition of Galleon Embedded Computing AS (“Galleon”). Galleon is the first strategic add-on acquisition since the formation of Spectra. Spectra is a portfolio company of Vance Street Capital, forming the company in February 2021 by simultaneously merging three defense technology businesses.
Founded in 2009 and headquartered in Oslo, Norway, with offices in the UK and Texas, Galleon designs and sells advanced Commercial-Off-The-Shelf (COTS)-based embedded computing solutions for a variety of military and commercial applications that require high bandwidth, high storage and low weight requirements. Galleon’s products include servers, computers, network attached storage (NAS) devices, data recorders and board-level solutions. Over the last decade, Galleon, known for its engineering aptitude and quality, has developed strong relationships with leading primes in North America and Europe.
Espen Boch, CEO of Galleon said, “We are very excited to partner with the Spectra team. Galleon has built a reputation and brand synonymous with technical innovation, quality and customer satisfaction. Finding an organization that shared those values was paramount in our decision to sell the business.”
Bob McGill, CEO of Spectra, commented, “We are excited to work closely with Espen and the entire Galleon team to continue to grow the excellent business they have built. Galleon is a recognized leader in the military embedded computing market and is well-known and respected in the industry as an innovative supplier of solutions to military customers around the world. Galleon will add significant breadth and depth to Spectra’s already comprehensive suite of products and technologies. Galleon will significantly increase the platform’s ability to reach into new customers and programs with a larger array of complementary products.”
“The Galleon and Spectra combination further enhances the platform’s position as a diversified provider of end-to-end information systems products that span the data capture lifecycle,” said Nic Janneck, a Principal at Vance Street. “Galleon’s suite of proprietary products fit squarely within Spectra’s focus on the data capture lifecycle. The acquisition also enhances the international reach of Spectra.”
Vedder Price LLP and Thommessen AS acted as legal advisors to Vance Street Capital LLC. Galleon was represented by Philpott Ball & Werner, LLC and Schjodt AS. Debt financing for the transaction was provided by Fidus Investment Corporation, EastWest Bank and Western Alliance Bank. Terms of the transaction were not disclosed.
About Vance Street Capital LLC
Vance Street Capital is a middle-market private equity firm focused on investing in highly engineered solutions businesses across the medical, life science, aerospace, defense, and industrial sectors. For over two decades, Vance Street’s partners have worked with management teams and family owners to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com.
About Spectra A&D Holdings LLC
Spectra is a diversified designer and manufacturer of highly engineered avionics and electronics solutions primarily for the aerospace and defense technology market. Spectra offers its customers a differentiated portfolio of proprietary products that span the entire data capture lifecycle – recording, processing, routing, and ultimately displaying mission critical data.