M&A Deal Summary

General Dynamics Acquires Fortress Technologies

On June 14, 2011, General Dynamics acquired technology hardware company Fortress Technologies from Liberty Partners and Advantage Capital Partners

Acquisition Highlights
  • This is General Dynamics’ 3rd transaction in the Technology Hardware sector.
  • This is General Dynamics’ 17th transaction in the United States.
  • This is General Dynamics’ 1st transaction in Massachusetts.

M&A Deal Summary

Date 2011-06-14
Target Fortress Technologies
Sector Technology Hardware
Buyer(s) General Dynamics
Sellers(s) Liberty Partners
Advantage Capital Partners
Deal Type Add-on Acquisition

Target

Fortress Technologies

Westford, Massachusetts, United States
Fortress Technologies, Inc. is a provider of wireless security products for enterprise networks. The Fortress security system leverages a combination of advanced wireless security technology and a robust processing architecture to deliver security services, networking services, policy management and monitoring that creates a more inherently secure enterprise network.

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Buyer(S) 1

Buyer

General Dynamics

Reston, Virginia, United States

Category Company
Founded 1899
Sector Defense
Employees100,000
Revenue 42.3B USD (2023)
DESCRIPTION
General Dynamics' Ordnance and Tactical Systems unit located in St. Petersburg, Florida.
General Dynamics' Ordnance and Tactical Systems unit located in St. Petersburg, Florida.

General Dynamics is an aerospace and defense company. It manufacturers business jets as well as provides combat systems to the US military. General Dynamics was founded in 1952 and is based in Reston, Virginia.


DEAL STATS #
Overall 21 of 30
Sector (Technology Hardware) 3 of 3
Type (Add-on Acquisition) 18 of 27
State (Massachusetts) 1 of 1
Country (United States) 17 of 26
Year (2011) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-11 General Dynamics Ordnance and Tactical Systems

Saint Petersburg, Florida, United States

General Dynamics Ordnance and Tactical Systems manufactures large- and medium-caliber ammunition, bomb bodies and precision metal components; provides explosive load, assemble and pack services for a variety of tactical missile and rocket programs; and designs and produces shaped charge warheads and control actuator systems.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-18 Network Connectivity Solutions

Hagerstown, Maryland, United States

NETCONN provides enterprise information technology (IT) services to the Defense Information Systems Agency (DISA) and other DoD agencies. NETCONN supports net-centric IT operations, including data center infrastructure, value engineering, information assurance and edge computing. The company is based in Hagerstown, Md., and has approximately 160 employees.

Buy -

Seller(S) 2

SELLER

Liberty Partners

New York, New York, United States

Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Liberty Partners is a private equity investment firm that targets controlling or substantial-minority investments in North American companies. Liberty looks for opportunities in manufacturing, business services, and education-related companies and seeks to invest $20 to $75 million of equity capital per transaction. Target businesses generally have at least $50 million in revenues and at least $6 million in EBITDA. Prospective transaction types include leveraged buyouts, corporate divestitures, recapitalizations, going-privates, build-ups, and growth financings. Liberty Partners was formed in 1992 and is based in New York City.


DEAL STATS #
Overall 23 of 32
Sector (Technology Hardware) 2 of 3
Type (Add-on Acquisition) 10 of 12
State (Massachusetts) 2 of 2
Country (United States) 23 of 32
Year (2011) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-14 NetQoS

Austin, Texas, United States

NetQoS, Inc. is a provider of analytical software and advisory services to monitor, analyze, and report on the performance of large enterprise networks. The Company’s proprietary network management software helps IT managers diagnose network problems, optimize network performance, increase network reliability, and decrease network costs.

Sell $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-02 Dental Technology

Santa Ana, California, United States

Dental Technology, Inc. (dba SmileCare Family Dentistry) is a dental practice management company offering General Dentistry and Specialty services. The organization manages a contracted network of approximately 1,600 independent dental providers in nearly 800 locations, creating a full-service dental operation throughout its selected markets.

Sell -
SELLER

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.


DEAL STATS #
Overall 41 of 97
Sector (Technology Hardware) 2 of 3
Type (Add-on Acquisition) 16 of 54
State (Massachusetts) 3 of 4
Country (United States) 41 of 97
Year (2011) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-09 DomaniCom

Shelton, Connecticut, United States

DomaniCom is developing a software-centric system that would serve as a single platform to integrate and manage services delivered by a cable, telephone, and direct broadcast satellite companies. DomaniCom's product will eliminate the need for multiple single-function products and will allow users to integrate linear television with a multi-room digital video recorder plus IP-TV and non-video services such as managed wireless internet, electric meter reading, alarm, and surveillance capabilities.

Buy $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Sunburst Farms

Miami, Florida, United States

Sunburst Farms is one of the oldest and most respected fresh cut flower importers and distributors in the U.S. Sunburst supplies over 32 different flower types to national supermarket chains, big box retailers and traditional wholesale florists. The company sources its products from some of the best known quality farms in Colombia and Ecuador. The company also provides merchandising, product design, marketing and category management support to its customers.

Buy -