Hello, Guest!
  • Friday, November 22, 2024

JF Lehman Affiliate Completes Acquisition of API Technologies Under Estimated $111M Deal


acquisitionAn affiliate of New York-based J.F. Lehman & Co. has closed its acquisition of API Technologies (Nasdaq: ATNY) for approximately $111 million.

Trading of API™s common stock on Nasdaq ceased Friday afternoon upon completion of the purchase and API shareholders will get a cash payment of $2 per share of common stock under the terms of the deal, API said Friday.

J.F. Lehman is a private equity firm that invests in companies in the defense, aerospace and maritime sectors.

API Technologies designs and produces radio frequency, millimeterwave, electromagnetic, microwave and security platforms, modules and related components designed for use by customers in the defense, commercial and industrial markets.

Jefferies and Lazard respectively served as financial advisers of API and J.F. Lehman in the transaction.

Their respective legal advisers for the deal were Wilson Sonsini Goodrich & Rosati and Blank Rome/Jones Day.

Video of the Day

Related Articles

Iron Mountain Strikes $200M Deal for IT Asset Remarketing Company Regency Technologies; Mark Kidd Quoted M&A Activity

Iron Mountain Strikes $200M Deal for IT Asset Remarketing Company Regency Technologies; Mark Kidd Quoted

Iron Mountain (NYSE: IRM) has agreed to acquire information technology asset disposition services provider Regency Technologies for approximately $200 million as part of efforts to expand its IT asset remarketing and recycling capabilities. “This strategic transaction represents a significant milestone in our efforts to strengthen Iron Mountain’s presence in the Asset Lifecycle Management sector and

TTM Strikes $330M Cash Deal for Telephonics in Aerospace & Defense Market Push; Tom Edman Quoted M&A Activity

TTM Strikes $330M Cash Deal for Telephonics in Aerospace & Defense Market Push; Tom Edman Quoted

TTM Technologies (Nasdaq: TTMI) has agreed to buy Telephonics from Griffon (NYSE: GFF) in a cash transaction worth approximately $330 million to expand its offerings and capabilities in the aerospace and defense market. Santa Ana, California-based printed circuit board manufacturer TTM said Monday it expects the transaction to be immediately accretive to non-GAAP earnings per

IBM to Split Into Two Public Companies; Arvind Krishna Quoted News

IBM to Split Into Two Public Companies; Arvind Krishna Quoted

IBM (NYSE: IBM) will spin off its managed infrastructure services unit into a public company in a move to focus on its growth strategy for hybrid cloud and advance artificial intelligence capabilities. "Client buying needs for application and infrastructure services are diverging, while adoption of our hybrid cloud platform is accelerating. Now is the right time to create two market-leading companies focused on what they do best,” said IBM CEO Arvind Krishna.