M&A Deal Summary

J.F. Lehman & Company Acquires Narda-MITEQ

On December 7, 2021, private equity firm J.F. Lehman & Company acquired electrical equipment company Narda-MITEQ from L3Harris

Acquisition Highlights
  • This is J.F. Lehman & Company’s 5th transaction in the Electrical Equipment sector.
  • This is J.F. Lehman & Company’s 38th transaction in the United States.
  • This is J.F. Lehman & Company’s 3rd transaction in New York.

M&A Deal Summary

Date 2021-12-07
Target Narda-MITEQ
Sector Electrical Equipment
Buyer(s) J.F. Lehman & Company
Sellers(s) L3Harris
Deal Type Divestiture

Target

Narda-MITEQ

Hauppauge, New York, United States
Narda-MITEQ designs, engineers, and manufactures custom radiofrequency (“RF”) and microwave subsystems and components for defense and commercial end markets. Narda-MITEQ is based in Hauppauge, New York.

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Buyer(S) 1

Buyer

J.F. Lehman & Company

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 4.5B USD
Size Large
Type Sector Focused
DESCRIPTION

JF Lehman is a specialist private equity firm that targets investments in the defense, aerospace and maritime industries. JF Lehman looks for lower middle-market company opportunities with established products but that not may not be realizing their full potential. The Firm will only consider control based investment situations. J.F. Lehman was formed in 1992 and has offices in New York, London, and Washington DC.


DEAL STATS #
Overall 42 of 45
Sector (Electrical Equipment) 5 of 5
Type (Divestiture) 12 of 12
State (New York) 3 of 4
Country (United States) 38 of 41
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-11 International Marine & Industrial Applicators

Daphne, Alabama, United States

International Marine & Industrial Applicators is a provider of critical vessel preservation services to the U.S. Navy ("USN") and commercial maintenance, repair, and overhaul ("MRO") and new construction markets. International Marine & Industrial Applicators was founded in 1985 and is based in Daphne, Alabama.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Lake Shore Systems

Kingsford, Michigan, United States

Lake Shore Systems is a designer, engineer, manufacturer, and supporter of complex, heavy equipment systems to meet mission-critical requirements in harsh operating environments, including large deck handling equipment, access and lifting systems for U.S. Government vessels and customized underground mining equipment for mine owners and operators around the world. Lake Shore Systems was founded in 1858 and is based in Kingsford, Michigan.

Sell -

Seller(S) 1

SELLER

L3Harris

Melbourne, Florida, United States

Category Company
Founded 1895
Sector Defense
Employees47,000
Revenue 19.4B USD (2023)
DESCRIPTION
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.

L3 Harris is a producer of communications products, systems and services for global markets, including RF communications, integrated network solutions and government communications systems. L3Harris Technologies was founded in 1895 and is based in Melbourne, Florida.


DEAL STATS #
Overall 19 of 23
Sector (Electrical Equipment) 3 of 3
Type (Divestiture) 18 of 22
State (New York) 1 of 1
Country (United States) 19 of 23
Year (2021) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-06 L3 ESSCO

Ayer, Massachusetts, United States

L3 ESSCO is a manufacturer of metal space frame ground radomes that support a variety of applications, including air defense, weather radar, air traffic control, and satellite telemetry and tracking. L3 ESSCO is based in Ayer, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 L3Harris Technologies - Space & Navigation Business

Melbourne, Florida, United States

L3Harris Technologies's Space & Navigation Business designs and builds Navigation products.

Sell $5M