Private equity firm Branford Castle Partners has acquired Hoffman Engineering from Trident Maritime Systems, a portfolio company of J.F. Lehman & Co.’s investment affiliates for an undisclosed sum.
“This decision to divest Hoffman enables Trident to streamline our solution offerings and focus on driving continued growth in our core maritime end markets,” Trident CEO Tom Eccles said in a statement published Monday.
In an Oct. 23 news release, Branford Castle said Hoffman CEO Ron Hayward and other members of the management team will stay with the company.
Providing Situational Awareness Tech for Defense and Aerospace Applications
Founded in 1955, Connecticut-based Hoffman provides night vision imaging systems, LED lighting products and other situational awareness products for mission-critical defense, aerospace and commercial applications.
Hoffman’s former owner, Trident, provides integrated maritime systems and services for government and commercial shipbuilders and ship operators worldwide. The Arlington, Virginia-based company has operating sites near major naval and commercial shipbuilding companies across the U.S. and abroad.
“We are excited to partner with Ron and the entire Hoffman team. We see attractive opportunities in this market as the aerospace and defense industry continues to expand, creating increased demand for the most advanced, mission-critical products available,” said Ceon Francis, managing director at Branford Castle. “The Company’s leading position in the night vision market, along with its proprietary capabilities, makes it a terrific platform for growth.”
Philpott Ball & Werner and Blank Rome served as Trident’s financial adviser and legal counsel, respectively, in the transaction.
Philpott Ball & Werner advised Hoffman on the sell-side.
Akerman served as Branford Castle’s legal counsel and served as the firm’s accounting/tax adviser. O2 Sponsor Finance and Brookside Capital Partners are providing debt financing for the transaction.
