Belcan to acquire Schafer Corporation
Belcan, LLC of Cincinnati, OH announced on April 6 that it has entered into an agreement to acquire Schafer Corporation (“Schafer”) from Metalmark Capital Partners. The transaction is expected to close in the second quarter of 2017. Belcan is a portfolio company of AE Industrial Partners, LLC (“AEI”), a private investor in aerospace, power generation, and specialty industrial companies.
Since 1972, Schafer Corporation has been a leading provider of scientific, engineering, and technical services to numerous military and civil government agencies. Schafer employs more than 400 experts worldwide in areas such as CBRNE (chemical, biological, radiological, and nuclear defense), space systems, air and missile defense, micro materials, and cybersecurity.
“Belcan is building an unrivaled array of engineering and IT capabilities, and Schafer is the latest acquisition to support this global initiative,” said Lance Kwasniewski, chief executive officer of Belcan. “Schafer represents a tremendous addition to our Government Services business, which helps governments and institutions worldwide support mission-critical tasks.”
“Schafer is excited to join the Belcan family, we believe the combination brings exciting growth opportunities as our expertise and services are a perfect fit,” said Michael Griffin, chairman and chief executive officer of Schafer Corporation. “With Belcan’s support and capabilities, we will be able to further expand our services and reach, which is critical to meet the growing demand of our customers across the globe.”
“With five acquisitions in less than 18 months, Belcan has demonstrated an unrelenting commitment to expanding its capabilities and footprint,” said David Rowe, managing partner of AEI. “We are proud to have helped Belcan grow to become an undisputed leader in the markets it serves.”