Private equity firm starts 'C5ISR' strategy with acquisition / greenbutterfly

Fregata Systems looks to make a string of acquisitions over the next three years and has hired a new CEO that formerly led Cubic Corp.'s defense business.

A private equity firm jointly formed by FON Advisors and Rotor Capital has acquired a maker of networking and communications technologies to launch a new investment strategy focused on the defense market's so-called "C5ISR" segment.

With the support of FR Capital, Fregata Systems plans to make a string of acquisitions over the next three years as part of its growth pursuits. The company is embarking on a strategy to be more of a leading tech provider in command, control, communication, computers, cyber, intelligence, surveillance and reconnaissance.

Fregata's second major move announced Monday was its hire of a new chief executive in Mike Twyman, a nearly three-decade market veteran and former president of Cubic Corp.'s defense business.

FON is primarily known in the government market as a financial advisory firm and provider of investment banking, valuation advisory, management consulting, and principal investing to clients. Rotor Capital is an almost three-decade old investment firm.