Behrman Capital Acquires Tresys Technology
NEW YORK, January 9, 2013-- Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that it has acquired Tresys Technology, a provider of cybersecurity products, services and solutions to government and commercial customers. Financial terms of the transaction were not disclosed.
Based in Columbia, Maryland, Tresys offers services and products that address computer network defense, focusing primarily on platform security, assured information sharing and security engineering. Tresys has built its business at the intersection of Linux and information security, two of the fastest growing markets in the Information Technology sector, and is a widely-recognized expert in Security Enhanced Linux. While Tresys began as a security engineering services provider, the Company now also offers products and tools to support a range of cybersecurity needs. The Company's talented team of engineers and scientists has earned Tresys the respect of both the open source and high security communities.
Grant G. Behrman, Managing Partner of Behrman Capital, said, "The acquisition of Tresys represents the culmination of our search for a high quality asset in the cybersecurity sector while also building on the firm's significant expertise in defense and intelligence operations. A longtime leader in cybersecurity, Tresys has successfully bridged the gap between the high-assurance government and critical infrastructure markets. We are confident that its current capabilities and infrastructure, product portfolio and outstanding customer relationships will provide a strong foundation for substantial operational and financial growth. We are excited to partner with Gary Latham and his team to accelerate the Company's development."
Tresys CEO Gary Latham said, "Today marks the beginning of an exciting new chapter for our Company. Tresys has made great strides in developing the infrastructure and product offering we need to take the Company to the next level. Under Behrman's ownership, we will be able to more fully develop our sales and marketing organization, continue to expand our technology portfolio and achieve the scale to compete as a prime contractor for critical cybersecurity initiatives in government and critical infrastructure. I want to thank our entire team for everything they have done to get us to this point. As the Company has evolved and expanded over the years, we have worked together to build and maintain a unique culture that serves our customers well and makes Tresys a special place to work."
General Peter Pace, an Operating Partner at Behrman Capital, will serve as the Chairman of the Tresys Board of Directors and will be a critical asset as the Company broadens its customer base. General Pace served as the 16th Chairman of the Joint Chiefs of Staff, the most senior position in the United States Armed Forces, from September 2005 to October 2007. As the principal military advisor to the President, the Secretary of Defense, the National Security Council and the Homeland Security Council, General Pace was a principal architect of the nation's cybersecurity strategy. General Pace is currently the Chairman of Pelican Products and a Director of ILC Industries.
Goodwin Procter LLP acted as legal counsel to Behrman Capital for the transaction. Womble Carlyle Sandridge & Rice, LLP acted as legal counsel to Tresys. White Peak Capital, LLC acted as financial advisor to Tresys.
About Behrman Capital
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company's investments are primarily focused in five industries: health care, specialty manufacturing, business to business outsourcing, defense and information technology. The firm has raised five funds with a combined capital base in excess of $3.0 billion. For more information, please visit www.behrmancap.com.
About Tresys Technology
Based in Columbia, Maryland, with an additional office in Ashburn, Virginia, Tresys Technology develops and delivers technology and services to customers with high security requirements. The Company currently focuses on information sharing, cross domain solutions, content filtering and file sanitization. Moreover, the Company's knowledge of the secure design, certification, and accreditation of complicated custom hardware and software solutions, combined with insight into the sophisticated requirements of our customers, allows us to deliver innovative solutions to modern security challenges. The experience gained from solving real-world problems has enabled Tresys to develop industry-leading and authoritative services. For more information, please visit www.tresys.com.
For Behrman Capital:
James David or Mark Semer
Kekst and Company
For Tresys Technology:
Venture Capital Database