M&A Deal Summary

Veritas Capital Acquires Abaco Systems

On December 7, 2015, private equity firm Veritas Capital acquired technology hardware company Abaco Systems from General Electric

Acquisition Highlights
  • This is Veritas Capital’s 2nd transaction in the Technology Hardware sector.
  • This is Veritas Capital’s 19th transaction in the United States.
  • This is Veritas Capital’s 1st transaction in Alabama.
Investment Fate
  • Abaco Systems was sold to a publicly-traded strategic buyer in 2021 for 1.4B USD.

M&A Deal Summary

Date 2015-12-07
Target Abaco Systems
Sector Technology Hardware
Buyer(s) Veritas Capital
Sellers(s) General Electric
Deal Type Divestiture

Target

Abaco Systems

Huntsville, Alabama, United States
Abaco Systems is a provider of open architecture computing and electronic systems for aerospace, defense, and industrial solutions. The Company's portfolio of commercial-off-the-shelf ("COTS") products is based on high-performance, rugged computing technologies and custom designs for use in a wide array of applications and is designed to withstand harsh environments such as extreme temperature, high vibration and exposure to natural elements. Abaco Systems was founded in 2015 and is based in Huntsville, Alabama.

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Buyer(S) 1

Buyer

Veritas Capital

New York, New York, United States

Category Private Equity Firm
Founded 1992
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York, New York.


DEAL STATS #
Overall 19 of 42
Sector: Technology Hardware M&A 2 of 3
Type: Divestiture M&A Deals 8 of 19
State: Alabama M&A 1 of 1
Country: United States M&A 19 of 41
Year: 2015 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-23 Alion

McLean, Virginia, United States

Alion provides engineering, information technology, naval architecture, and operational solutions for defense, civilian government, foreign governments, and commercial industries in the United States and internationally. Alion was founded in 2001 and is based in McLean, Virginia.

Buy $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-18 Truven Health Analytics

Ann Arbor, Michigan, United States

Truven Health Analytics, Inc. is a provider of healthcare data and analytics solutions to constituents across the entire healthcare continuum, including federal and state government agencies, employers, health plans, hospitals, clinicians and pharmaceutical companies. Truven Health Analytics, Inc. is based in Ann Arbor, Michigan.

Sell $2.6B

Seller(S) 1

SELLER

General Electric

Boston, Massachusetts, United States

Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 38.7B USD (2024)
DESCRIPTION
General Electric office in Dubai, United Arab Emirates.
General Electric office in Dubai, United Arab Emirates.

General Electric is a diversified technology and financial services company. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 26 of 46
Sector: Technology Hardware M&A 1 of 1
Type: Divestiture M&A Deals 21 of 38
State: Alabama M&A 1 of 1
Country: United States M&A 20 of 35
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-02 Alstom - Power and Grid businesses

United States

Alstom - Power and Grid businesses is a provider of renewable energy services.

Buy $12.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-28 Metem

Parsippany, New Jersey, United States

Metem Corp. is a specialized global manufacturer and supplier of turbine super-alloy component machining for leading companies in the power generation and aerospace industries.

Buy -