Altus Capital pockets $133M on Gichner Deal
Westport-based private-equity investment firm Altus Capital Partners Inc. sold Gichner Holdings Inc., a designer, engineer and manufacturer of tactical and other shelters for the U.S. military, its allies and defense contractors, to Kratos Defense & Security Solutions Inc. for $133 million in cash. Altus acquired Gichner, of Dallastown, Pa., in August 2007 in a partnership with Gichner management and other investors. Gichner revenues grew dramatically during Altus’s ownership from $48.6 million in 2007 to $147.1 million for the twelve months that ended Dec. 31. Altus engaged Jefferies & Co. Inc. to seek strategic options and Jefferies identified Kratos as an acquirer that had an appreciation of the Gichner business as well as the ability to continue the growth of Gichner.