M&A

Schafer's private equity backers shift company across portfolio

Schafer Corp.’s private equity owners have combined that government services contractor into another similar company in the portfolio to create a business more focused on national security.

Washington, D.C.-based defense engineering outfit Gryphon Technologies acquired Schafer from former owners Belcan in a deal that closed Friday, the companies said Monday. Both Gryphon and Belcan are portfolio companies of AE Industrial Partners, which acquired Belcan in July 2015.

AEI acquired Gryphon in September of last year with the intent to combined that company with another portfolio business in CDI Government Services.

Belcan acquired Schafer in April 2017 and subsequently formed a new government services segment that also included a pair of companies purchased the prior year: Intercom Consulting & Federal Systems Corp. and The Kemtah Group.

Intercom and Kemtah are not affected by the transition of Schafer to Gryphon from Belcan, a provider of engineering and IT services to customers in the aerospace-and-defense, industrial and government sectors.

Arlington, Virginia-based Schafer designs, integrates, maintains and upgrades systems and programs for the military, intelligence community, Department of Homeland Security, NASA and other customers.

Kirkland & Ellis LLP was legal adviser and PricewaterhouseCoopers LLP was financial adviser to Gryphon.

About the Author

Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at rwilkers@washingtontechnology.com. Follow him on Twitter: @rosswilkers. Also find and connect with him on LinkedIn.

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