The investment management company Nexus Capital Management has agreed to acquire the defense infrastructure company HDT Global from its current owner, the private equity firm Charlesbank Capital Partners.
Terms of the deal were not disclosed. The acquisition is expected to close at the end of the second quarter subject to regulatory approvals.
HDT Global, which is based in Ohio, designs and manufactures a wide range of military products used in expeditionary operations including tactical shelters and related accessories, environmental control units, heaters and power generators, chemical, biological, radiological and nuclear filtration and protection systems, command and control system accessories, trailer systems, and robotic systems.
HDT’s primary customers are the U.S. military and its allies.
HDT’s management team, which includes CEO Jim Stephens, will invest alongside Nexus. Vince Buffa, HDT’s former CEO, will chair the board.
Houlihan Lokey is HDT’s financial advisor on the deal. Lazard is providing financial advice to Charlesbank and Nexus is being advised by RBC Capital markets, Barclays and Société Générale.