ARLINGTON, Va.--(BUSINESS WIRE)--Relativity Capital announced today that it has completed the sale of Tactical Micro, Inc. to Secure Communication Systems, Inc., a portfolio company of Vance Street Capital. The transaction closed on December 20, 2013. Terms were not disclosed.
Based in Fredericksburg, Virginia, Tactical Micro (www.tacticalmicro.com) designs, manufactures and installs training and surveillance instrumentation for military and civilian customers. The company is a leading provider of innovative digital audio and video (A/V) telemetry and recording systems for vehicle-borne training and surveillance applications. Its military products are critical components of the U.S. Army’s Digital Range Training Systems program.
Relativity acquired a majority stake in Tactical Micro in late 2010. Since Relativity’s investment, Tactical Micro has nearly doubled its revenue and earnings, enhanced its product line and technical capabilities, and significantly increased its employee headcount and physical footprint.
During its period of ownership, Relativity partnered with John Moulton, Tactical Micro’s founder, to transition the company from a startup to an established business with enhanced management capabilities, systems and processes. Relativity helped source and hire key members of the management and business development teams, executed an add-on acquisition, directed the implementation of new internal systems, and supported business development efforts to diversify Tactical Micro’s customer and contract base.
Commenting on the sale, Leslie Armitage, Senior Managing Director of Relativity Capital, said, “Tactical Micro is an impressive, high-growth company with a demonstrated track record of innovation and extraordinary customer service. Relativity’s partnership with Tactical Micro’s management, including founder John Moulton, CEO Major General Rob Goff (U.S. Army, Ret.), CFO Mike Hayden, and their outstanding team has been a great experience that has served our investors well. We wish Tactical Micro continued success in its new relationship with Secure Communication Systems."
John Moulton, founder and President of Tactical Micro added, “It has been a real pleasure working with Leslie and the entire Relativity team. Their experienced management team was instrumental in our tremendous growth. The company and I are extremely grateful for their stewardship. Tactical Micro is well positioned for even greater growth ahead. We look forward to the next leg up under the Secure Communication Systems and Vance Street team of companies.”
Relativity Capital and Tactical Micro were advised by KippsDeSanto & Co., Hogan Lovells US LLP, and Cherry Bekaert LLP.
Relativity Capital, LLC provides private equity capital to companies throughout all stages of the business cycle. They target quality investments in both healthy and distressed middle-market companies, predominately located in North America. Relativity is supported by a Strategic Advisory Board comprised of individuals with significant management and operational experience.