NEW YORK and BOCA RATON, Fla., Oct. 23, 2024 /PRNewswire/ — Branford Castle Partners, a North American-focused private equity firm, today announced that it has acquired Hoffman Engineering, a leading provider of proprietary situational awareness solutions for mission-critical aerospace and defense applications, from Trident Maritime Systems (“Trident”). Terms of the transaction were not disclosed.
Hoffman marks the sixth platform investment and eleventh acquisition overall for Branford Castle’s Fund II, which closed in 2021. Over the last few months, Branford Castle has also announced the successful exits of its investments in Clean Solutions Group, the first exit from Fund II, and Earthlite Massage Tables, the fourth exit from Fund I.
Based in Stamford, CT, Hoffman is a global leader in the development and manufacturing of night vision test equipment, night vision imaging lighting systems and commercial aviation LED specialty lighting products. Since its inception in 1955, the Company has developed a strong brand reputation within the night vision sector and its products are utilized by the U.S. military, aerospace and defense OEMs, as well as by commercial airlines. Hoffman CEO Ron Hayward and the rest of the existing management team will remain with the Company going forward.
Ceon Francis, Managing Director at Branford Castle, said, “We are excited to partner with Ron and the entire Hoffman team. We see attractive opportunities in this market as the aerospace and defense industry continues to expand, creating increased demand for the most advanced, mission-critical products available. The Company’s leading position in the night vision market, along with its proprietary capabilities, makes it a terrific platform for growth.”
Eric Korsten, Senior Managing Director at Branford Castle, said, “This important transaction would not have been possible without our long-time financing partners, O2 Sponsor Finance and Brookside Capital Partners, whose continued support of our growing portfolio is greatly valued.”
Mr. Hayward added, “Today’s milestone is a validation of the trusted innovative solutions and customer-focused culture that we have worked tirelessly to achieve. We are extremely grateful for the support of our previous owner, Trident, and look forward to continuing to deliver on future growth opportunities with our new partners at Branford Castle Partners.”
Branford Castle was advised by its legal counsel, Akerman LLP, and RSM served as its accounting/tax advisor. Hoffman was advised on the sell-side by Philpott Ball & Werner, LLC. O2 Sponsor Finance is providing senior debt financing and Brookside Capital Partners is providing mezzanine debt financing for the transaction.
ABOUT BRANFORD CASTLE PARTNERS
Branford Castle is a private market investor focused on lower middle-market investments, with more than 35 years of helping to grow businesses. The Firm typically makes control investments in companies with up to $15 million of EBITDA and a leadership position in a niche industry. Branford Castle is particularly keen on the strong relationships it develops with its portfolio company managers. Branford Castle has particular expertise in industrials/specialty manufacturing, consumer products, business services and logistics. For more information, please visit branfordcastle.com.
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SOURCE Branford Castle Partners
