Launches Fisica, Kanders' New Defense
Technology Platform
PALM
BEACH, Fla., June 3, 2024
/PRNewswire/ -- Kanders & Company, Inc. ("Kanders"), a
U.S.-based single-family office, announced today the completion of
its previously announced acquisition of certain antenna and test
equipment businesses from L3Harris Technologies (NYSE: LHX) for
$200 million.
The acquired ATI, Datron and Randtron businesses will operate
under Fisica, Inc. ("Fisica"), Kanders' defense technology
platform, and manufacture airborne and ground-based antennas, and
electromagnetic systems and simulators for applications across
radar, communications, warning systems, remote sensing, nuclear
effects testing and imaging. Fisica, which is based in San Leandro, Calif., with additional
operations in Menlo Park and
Simi Valley, Calif., is well
positioned for continued growth as a critical partner for flagship
defense primes and the U.S. Department of Defense. Additional
information about Fisica can be found at
https://www.fisica.com.
"We are pleased to complete this transaction and launch Fisica,
a defense industry platform positioned to grow organically and
through targeted acquisitions," said Warren
B. Kanders, President of Kanders and Executive Chairman of
Fisica. "Alongside the talented existing management team, I look
forward to leveraging and building on Fisica's outstanding
portfolio to serve a growing need in the electronic warfare and
communications industry. I view these businesses as an excellent
starting point to think expansively and opportunistically about
growth in the broader defense space."
Warren B. Kanders will serve as
Executive Chairman of Fisica. The businesses will be led on a
day-to-day basis by President Mark
Rayner and Chief Financial Officer Christopher Prabhu.
Mr. Rayner has over 30 years of experience in satellite
communications, electronic protection and support, and antenna
technology. Prior to the transaction he was serving as General
Manager overseeing these businesses for the seller, and his prior
experience includes time at TRW Inc.
Mr. Prabhu joined the seller in 2019 as CFO of the ATI business
and following a series of consolidations, grew to oversee all the
businesses as finance lead. He has over 20 years of aerospace and
defense industry experience with companies such as Dover
Corporation, GE Aviation, Triumph Group, and IMPEX.
Three well-respected independent directors will round out the
leadership of Fisica, including:
- Hamish Norton is the President
of Star Bulk Carriers Corp. and in addition to a distinguished
career in finance and shipping, has an undergraduate degree in
physics from Harvard College and a
Ph.D. in physics from the University of
Chicago.
- Lisa Randall is the Frank B.
Baird, Jr., Professor of Science at Harvard University, having previously taught at
MIT, Princeton
University, and University of
California-Berkeley. Professor Randall is a bestselling
author and her studies have made her among the most cited and
influential theoretical physicists. She has an undergraduate
degree and a Ph.D. in physics from Harvard
University.
- Neil deGrasse Tyson is a well-known astrophysicist and
author who received an undergraduate degree in physics from
Harvard College, and a PhD in
astrophysics also from Columbia
University.
About Kanders & Company, Inc.
Kanders & Company, Inc., based in Palm Beach, Florida, is a single-family office
owned and controlled by Warren B.
Kanders. Mr. Kanders has more than 35 years of experience
investing in public and private companies across a variety of
sectors, acting as an active strategic partner for enhancing
operating discipline and catalyzing long-term growth.
About Fisica
Fisica, Inc. is a leading defense products manufacturer that was
formed to acquire the Randtron, Datron and Applied Technologies
Inc. businesses, establishing a platform that designs and produces
airborne antennas, ground-based antennas, and electromagnetic
systems and simulators. Headquartered in San Leandro, Calif., with additional
operations in Menlo Park and
Simi Valley, Calif., the company
has approximately 375 employees.
Contacts:
Kanders & Company
Gray
Hudkins
ghudkins@kanders.com
(203) 550-7148
Media
Aura Reinhard /
Tim Ragones
Joele Frank, Wilkinson Brimmer
Katcher
(212) 355-4449
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SOURCE Kanders & Company, Inc.