Stellant Systems, a portfolio company of Arlington Capital Partners, has completed its acquisition of Comtech Telecommunications‘ (Nasdaq: CMTL) power systems technology product line.
Comtech’s net cash proceeds from the transaction amount to approximately $32.5 million, which were partly used to pay down outstanding debt on its existing credit facility, the companies said in a statement published Tuesday.
The closing of the deal comes less than a month after Stellant Systems announced the acquisition of the PST line from Comtech to expand its radio frequency amplification product portfolio.
The transaction secured approval from the companies’ boards of directors.
Comtech will provide financial information regarding the PST transaction during its next quarterly earnings conference.
