Maury Microwave, a portfolio company of Artemis Capital Partners, has acquired dBmCorp. Artemis acquired Maury Microwave in June 2021 with debt financing and an equity co-investment from Abacus Finance.
dBm manufactures test equipment and subsystems used in wireless telecommunications, satellite systems, and defense applications for research and development, qualification and production verification testing.
dBm (decibel-milliwatts) specializes in equipment that is used to test the performance of space-based communication systems by emulating signal propagation through the atmosphere and non-linear distortion caused by electronic hardware. The company, founded in 1999, is headquartered 40 miles north of Newark in Oakland, New Jersey.
Maury Microwave is a designer and manufacturer of radio frequency (RF) measurement and connection products – including instrumentation, cables assemblies, coaxial and waveguide components and adapters – used in the telecommunications, semiconductor, aerospace, defense, instrumentation, and research sectors. The company’s products are used for calibration, measurement, modeling, and interconnection of wireless technologies across the radio frequency spectrum including the terahertz (THz) frequency band (0.1-10 THz).
Maury Microwave, headquartered near Los Angeles in Ontario, California, was founded in October 1957 by Mario Maury and is today led by CEO Michael Howo.
The buy of dBm expands Maury’s test and measurement technology portfolio into the emulation market. “dBm is widely recognized as a leader in SATCOM link emulation and we look forward to leveraging both companies’ technical competencies and resources to accelerate development and extend our market reach,” said Mr. Howo.
With the close of the transaction, dBm now operates as a division of Maury and will continue to be led by its founding team of President Dale Sydnor, VP of Engineering Bill Pastor, and VP of Sales & Marketing Mike Cagney.
Boston-based Artemis invests in companies with revenues of $5 million to $50 million and EBITDA of $1 million to $10 million. Target companies include manufacturers of differentiated industrial technologies in the aerospace, automotive, defense, energy, industrial automation, scientific and research, and medical sectors.
Sperry, Mitchell & Company was the financial advisor to dBm on this transaction.
© 2021 Private Equity Professional | October 7, 2021
