M&A Deal Summary

Codan Acquires DTC

On February 16, 2021, Codan acquired communications company DTC from Marlin Equity Partners

Acquisition Highlights
  • This is Codan’s 1st transaction in the Communications sector.
  • This is Codan’s 1st transaction in the United States.
  • This is Codan’s 1st transaction in Virginia.

M&A Deal Summary
Date 2021-02-16
Target DTC
Sector Communications
Buyer(s) Codan
Sellers(s) Marlin Equity Partners
Deal Type Add-on Acquisition

Target

DTC

Ashburn, Virginia, United States
DTC is an established technology provider for high bandwidth wireless communications with specialist capabilities in MIMO Mesh networks (next generation software-defined networks where multiple antennas stream data to and from devices across a network that is self-forming and self-healing). DTC was formed in 1979 and is based in Ashburn, Virginia.

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Buyer(S) 1

Buyer

Codan

Mawson Lakes, Australia
Category Company
Founded 1959
Sector Electrical Equipment
Employees450
Revenue 456M AUD (2023)
DESCRIPTION

Codan designs, manufactures and markets a diversified range of products and systems for the international high frequency radio, satellite and terrestrial microwave communications markets, and for the consumer and countermine metal detection markets. Codan was founded in 1959 and is based in Mawson Lakes, Australia.

DEAL STATS #
Overall 2 of 4
Sector (Communications) 1 of 2
Type (Add-on Acquisition) 2 of 4
State (Virginia) 1 of 1
Country (United States) 1 of 3
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-17 Daniels Electronics Limited

Victoria, British Columbia, Canada

Daniels Electronics Limited is a designer, manufacturer and supplier of land mobile radio communications (LMR) solutions in North America.

Buy CA$25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 Zetron

Redmond, Washington, United States

Zetron is a critical communications technology company, providing integrated solutions with legendary reliability and support. Zetron’s integrated communications systems combine IP-based dispatch, NG9-1-1 call-taking, voice logging, and IP fire station alerting systems, CAD, mapping, automatic vehicle location (AVL), and video surveillance and security solutions. Zetron was founded in 1980 and is based in Redmond, Washington.

Buy -

Seller(S) 1

SELLER

Marlin Equity Partners

Hermosa Beach, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 8.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Marlin Equity's headquarters in Hermosa Beach, California.
Marlin Equity's headquarters in Hermosa Beach, California.

Marlin Equity Partners is a private investment firm focused on acquiring distressed businesses with sales of $10 million to $2 billion. Marlin has a special interest in non-core or underperforming divisions of larger corporations, as well as companies facing some sort of financial, operational or market-related transition. Marlin is a generalist investor and will consider opportunities in technology (software, IT, payment systems, hardware, communications, internet), healthcare, consumer (apparel, retail, consumer products, food/beverage), services (business, financial, consumer, education), manufacturing (automotive, industrial, metals, plastics), aerospace, defense, and media. Marlin prefers businesses with scalable business models, strong installed customer bases, defensible market positions, and barriers to entry. Marlin Equity Partners was formed in 2005 and is based in Hermosa Beach, California with an additional office in London.

DEAL STATS #
Overall 46 of 63
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 32 of 42
State (Virginia) 2 of 4
Country (United States) 36 of 46
Year (2021) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-15 Lengow

Nantes, France

Lengow is an e-commerce automation platform that connects brands and online sales channels and enables its customers to streamline their e-commerce strategies across multiple channels to improve performance, automate business processes and grow internationally. Lengow was founded in 2009 and is based in Nantes, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-26 Bazaarvoice

Austin, Texas, United States

Bazaarvoice is a social software and data analytics company, brings the voice of customers to the center of business strategy for more than 700 global clients like Best Buy, Costco, Dell, Macy's, P&G, Panasonic, QVC, and USAA. On a monthly basis, more than one-half billion consumers utilize the Bazaarvoice Network to view and share authentic consumer-generated content, including ratings and reviews, as well as curated visual content, across 5,000 brand and retail websites. This visibility into shopper behavior allows Bazaarvoice to capture unique first-party data and insights that enable its targeted advertising and personalization solutions. Bazaarvoice was founded in 2005 and is based in Austin, Texas.

Sell -
Mergr

Product

Company

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