Narda AcquisitionCo Inc., a portfolio company of investment affiliates of J.F. Lehman & Company (“JFLCO”), completed the acquisition of Sparks-based Intelligent RF Solutions LLC, the company announced Thursday.
IRF designs, engineers and manufactures RF and microwave systems and subsystems for mission-critical military and intelligence community applications. The company specializes in wideband, high frequency products for signals intelligence, electronic intelligence and electronic warfare functions.
Terms of the deal were not announced.
With a legacy dating back to 1962, iRF employs approximately 50 individuals based in its facility in Sparks. IRF represents the first add-on acquisition completed by Narda-MITEQ under JFLCO’s sponsorship and will continue to be led by the current iRF management team.
Narda-MITEQ is headquartered in Hauppauge, New York, with additional facilities in Pfullingen, Germany and Cisano, Italy.
Debt financing for the transaction was provided by Barings Finance and Siemens Financial Services. Shearman & Sterling served as legal adviser to Narda-MITEQ and JFLCO. Baker Hostetler provided government contracts, defense security and international trade advice and Jones Day served as counsel for the debt financing. Philpott Ball & Werner served as financial adviser to iRF while Barnes & Thornburg LLP were iRF’s legal representatives for the transaction.
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