M&A

Gryphon makes deal to grow cyber footprint

Defense services contractor Gryphon Technologies has acquired PGFM Solutions, a provider of cybersecurity services to the Navy and Coast Guard.

Terms of the transaction were undisclosed. Gryphon said Monday the cyber work it is adding supports shipbuilding and modernization programs.

PGFM’s cyber vulnerability assessment and engineering services focus on risk assessments for machinery control systems, electromagnetic spectrum capabilities, navigation and integrated bridge systems.

Washington, D.C.-based Gryphon is backed by private equity firm AE Industrial Partners and acquired a fellow portfolio company in Schafer Corp. four months ago in a reorganization by the owners of its holdings. AEI purchased Gryphon in September of last year.

Berkeley Research Group was financial adviser to Gryphon with Akerman as legal adviser. Haefele, Flanagan & Co. was financial adviser to PGFM with Lauletta Birnbaum as legal adviser.

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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