HENSOLDT, the new German sensor house, has signed a Share Purchase Agreement with the UK private equity firm ECI and management to acquire the UK provider of security and maritime radar solutions Kelvin Hughes, London. The transaction is subject to anti-trust approvals and closing is expected in the third quarter of 2017.
“Kelvin Hughes is highly successful in the marine and security markets, while HENSOLDT has a strong position in the higher-end military and surveillance radar domain”, said CEO HENSOLDT, Thomas Müller. “Our portfolios and market access are perfectly complementary and we will see significant growth from this transaction. The Kelvin Hughes portfolio will allow us to enter more price-sensitive markets and their security solutions will add value to the HENSOLDT products and bring us one step closer towards our strategic objective to develop our Sensor House into a Sensor Solutions provider”
“I am proud that Kelvin Hughes becomes a part of HENSOLDT. Both companies have shaped the radar market for seven decades and I am looking forward to the tremendous opportunities we have together and the new solutions we can jointly offer to our customers,” said CEO Kelvin Hughes, Russell Gould.