Graycliff Partners has exited US Navy electronic systems provider 901D in a $132m sale to Curtiss-Wright Corporation.
901D was carved out by Graycliff in 2016 from within a conglomerate of related businesses.
The company provides strategic subsystems engineering and integration for defense, aerospace, security and industrial systems.
Its products support equipment including shipboard computing systems, command and control systems, vehicle communications systems and unmanned surveillance.
Graycliff managing partner Steve Hindmarch said, “We are particularly appreciative of the management team’s successful achievement of rapid growth under exceptionally challenging circumstances.”
The private equity house hit a $350m hard cap final close for its fourth flagship fund last month.
Graycliff said it planned to continue its strategy of making control buyout investments in lower middle market companies, with a focus on partnering with founder and family-owned businesses in the manufacturing, business services, and value-added distribution sectors.
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