Private investors to buy CompuDyne

Compudyne Corp., a provider of products and services to the public security sector, has agreed to be acquired by a group of private investors for about $59.1 million cash.

The investor group consists of affiliates of The Gores Group of Los Angeles and industry executive Stuart Mackiernan.

Upon closing, Mackiernan will become the president and chief executive of Compudyne, replacing Martin Roenigk.

A number of factors resulted in the company's decision to go from public to private, Roenigk said in a statement issued today.

"Given our relatively small size, complex structure and the inordinate costs of being a public company in the post-Sarbanes Oxley era, a sale of the entire company to an organization that has the financial and managerial resources to continue to build CompuDyne without the managerial diversion and financial drain of public company requirements seemed the most appropriate step to take," he said.

Mackiernan was most recently corporate vice president for business development and president and CEO of L-3 Satellite Networks. He also has held senior positions at GE Capital Spacenet Services, General Dynamics Corp., Science Applications International Corp. and Unisys Corp.

The investment group has agreed to pay $7 for each of the company's approximately 8.4 million shares.

About the Author

William Welsh is a freelance writer covering IT and defense technology.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here


  • VIDEO: Explore the 2019 M&A Trends

    Editor Nick Wakeman interviews Kevin DeSanto of the investment bank KippsDeSanto about the highlights of their annual M&A survey and trends driving acquisitions in the federal space. Read More


    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.