Agilitas Private Equity has agreed to buy soldier and military vehicle protection specialist TenCate Advanced Armour.
The company provides lightweight armour for light, medium and heavy military vehicles, including tanks, ships and aircraft, as well as personnel protection.
Netherlands-headquartered TenCate, which employs 300 people, develops, tests and manufactures its armour products in-house.
Agilitas said the investment was in line with its strategy of backing ambitious management teams of high-quality and defensive businesses, with “opportunities for multi-dimensional business transformation and a strong alignment between shareholder value and a fundamental positive purpose”.
Martin Calderbank, managing partner at Agilitas, said, “TenCate Advanced Armour operates where the quality of protection is of the utmost importance.
“By supporting management to bring about step changes in the company’s performance and continuing its global growth, we will help it provide even better protection for people working in hostile environments around the world.”
Global law firm Ashurst advised its long-standing client Agilitas on the deal.
Earlier this year Agilitas bought UK training and education specialist Learning Curve Group in a deal AltAssets understood valued the business at between £125m and £150m.
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