Communications & Power Industries acquires ASC Signal
Communications & Power Industries LLC (CPI) acquired ASC Signal Corp., which designs and builds advanced satellite communications, radar and high-frequency antennas and controllers. ASC Signal's high-performance antennas are used in commercial and government satellite communications, terrestrial communications, imagery and data transmission, and radar and intelligence applications. Under the acquisition agreement, CPI acquired ASC Signal from Resilience Capital Partners.
CPI expects to realize approximately $50 million in annual sales, as well as positive contributions to its earnings, in the first year following the acquisition.
ASC Signal, which has approximately 125 employees worldwide and facilities in Plano, Texas and Whitby, Ontario, Canada, will be operated as an independent division of CPI. It will retain its current leadership and personnel, including its sales force.
ASC Signal's product portfolio includes satcom antenna systems with UHF to V-band capabilities; radar antennas in S-Band and L-Band for air traffic control radar applications and in S-Band and C-Band for weather radar applications; and high-frequency and specialty antennas in a wide frequency range for a variety of applications. ASC Signal's antennas are typically between 2.4 meters and 14 meters in diameter.
"The addition of ASC Signal's products and technology broadens CPI's existing offerings for communications and radar customers to now include one of the industry's broadest portfolios of high-performance, large-aperture fixed and mobile antennas. ASC Signal has more than 40 years of experience serving a diverse, multinational customer base, resulting in strong, long-term customer relationships and antenna installations in more than 140 countries," said Joe Caldarelli, chief executive officer of CPI International, Inc., the parent company of CPI.
Keith Buckley, president and chief executive officer of ASC Signal Corporation, said, "ASC Signal is delighted to join CPI. In addition to aligning complementary product portfolios and customer bases, this acquisition will provide ASC Signal with access to CPI's well-established worldwide resources, enabling us to grow the business and better serve our existing customer base."
Philpott Ball & Werner, LLC acted as exclusive investment banker to ASC Signal.