BEI Precision Systems & Space Company, a portfolio company of J.F. Lehman since May 2017, has acquired Thistle Design Limited.
Thistle designs and manufactures encoders, resolvers, and other positioning sensors that are used in measurement, motion and control applications. Resolvers and encoders are both devices that measure the rotary position of a shaft by converting mechanical motion into an electrical signal
Thistle specializes in sensors used in harsh nuclear environments, high-reliability applications, and advanced defense projects. Thistle Design was founded in 1992 by Bob Frew and Ron Logan and is headquartered near Edinburgh in Loanhead, Scotland (www.thistledesign.com).
BEI Precision Systems & Space Company (BEI) designs and manufactures highly accurate optical encoders, accelerometers, infrared optical scanners and encoder-based motion control systems that are used in military, space, aviation, and range instrumentation applications. Over 90% of all optical encoders currently flying in space are BEI encoders. The company traces its roots back to 1862 when it was founded as the D.H Baldwin Company, a manufacturer of pianos. BEI is headquartered near Little Rock in Maumelle, AR (www.beiprecision.com).
J.F. Lehman acquired BEI in May 2017. “Thistle is BEI’s first add-on acquisition and represents an important step in executing BEI’s strategy of augmenting organic development with complimentary add-on acquisitions,” said Steve Brooks, a Partner at J.F. Lehman.
J.F. Lehman & Company is a middle-market private equity firm focused primarily on the maritime, defense, and aerospace sectors. The firm was founded in 1992 by Dr. John Lehman, who served six years as Secretary of the United States Navy. To date, J.F. Lehman has acquired 65 operating entities within 25 platform investments with an aggregate transaction value of approximately $3.1 billion. The firm is headquartered in New York with an additional office in Washington, DC (www.jflpartners.com).
KippsDeSanto & Co. (www.kippsdesanto.com), a Tysons Corner, VA-based investment bank that focuses on the aerospace, defense, and technology industries, was the financial advisor to BEI and J.F. Lehman.
© 2018 Private Equity Professional | November 15, 2018
