Gryphon acquires Schafer
Gryphon Technologies, Inc. of Washington, DC announced on March 18 that it has acquired Schafer Intermediate Holding, LLC of Arlington, VA from Belcan, LLC. Terms of the transaction, which closed on March 15, were not disclosed.
Schafer is a leading provider of scientific, advanced engineering, and technical advisory services specializing in protecting against national security threats. For more than 45 years, the Company has designed, integrated, maintained, and upgraded state-of-the-art systems and programs for the military, intelligence community, Department of Homeland Security, and others.
Both Gryphon and Belcan are portfolio companies of AE Industrial Partners, a leading private equity investor in aerospace and defense, power generation, and specialty industrial companies. Belcan acquired Schafer in April 2017.
“By combining Schafer with Gryphon, we are strengthening our strategic capabilities and footprint, while expanding the service offerings of both companies,” said P.J. Braden, CEO of Gryphon. “The combination creates exciting opportunities in how we continue to support the missions of our existing and new customers.”
“This transaction is very beneficial for both Gryphon and Belcan,” said Lance Kwasniewski, CEO of Belcan. “Gryphon provides Schafer with additional resources and capabilities in conjunction with a culture and focus that centers around Schafer’s core markets. In addition, the new Belcan organization reflects the keen focus on our core capabilities and our commitment to the engineering, tech services, and consulting segments.”
“The acquisition of the Schafer assets fits perfectly within our Gryphon investment thesis of building a diversified, world-class engineering and technical services company that supports our nation’s most critical national security challenges and programs,” said Kirk Konert, a Principal at AE Industrial Partners.
Source: Gryphon Technologies