Behrman Capital has agreed to sell its portfolio company kSARIA to ITT (NYSE: ITT) for approximately $475 million.
The New York-based private equity investment firm said kSARIA is a manufacturer and supplier of connectivity offerings for the aerospace and defense end markets.
Its products are designed to support avionics, sensors, communications and networking applications with defense contractors and commercial aerospace players.
ITT, on the other hand, caters to aerospace and defense customers. It designs, develops and manufactures mission-critical lightweight products for aerospace applications.
In a separate announcement, Luca Savi, CEO and president of ITT, said, “Like ITT, kSARIA develops customized solutions for harsh environments, which are highly complementary to our existing connector portfolio.”
The transaction is expected to be finalized before the end of the third quarter of 2024, subject to meeting customary closing conditions.
“We believe the business is exceptionally well-positioned for further growth under its new ownership and we commend Tony Christopher and the management team for their innovative leadership, wishing them success in the future as part of ITT,” commented Grant Behrman, managing partner at Behrman Capital.
