Lark Engineering Expands Secure Communication Systems’ Product Offering
LOS ANGELES – September 16, 2013 – Vance Street Capital LLC, a Los Angeles-based private equity firm, announced today that its acquisition of Lark Engineering closed on September 11, 2013. Lark Engineering is the second add-on acquisition for Secure Communication Systems, a designer and manufacturer of rugged computer and information assurance systems, which Vance Street acquired in October 2009. Terms of the transaction were not disclosed.
Based in San Juan Capistrano, Calif., Lark Engineering is a leading designer and manufacturer of RF Filters serving the commercial, industrial, and military sectors.
“Secure Communication Systems and Lark Engineering are great examples of our strategy to pursue growth through both organic revenue generation and acquiring strategic assets,” said Brian Martin, principal at Vance Street Capital. “Together these two companies will benefit from a number of advantages, including a broader product offering and greater cross-selling opportunities.”
Lark Engineering will become a division of Secure Communications. Fred and Nancy Baier will retire from the company they founded in 1986 at the end of the year.
“We are excited to be joining forces with Lark Engineering,” said Allen Ronk, CEO of Secure Communication Systems. “The addition of Lark Engineering provides us with RF engineering talent and capabilities and a like-minded philosophy of focusing on quality and service. We are also very optimistic that with our strong relationships in the defense industry we will be able to grow the business even further.”
“This is a great development for our company, our customers and our employees,” Lark Engineering CEO Fred Baier said. “As part of Secure Communications, Lark will have access to the capital and resources it needs to grow and reach the next level of its evolution. I know that I will be leaving the company in excellent hands and have every confidence that Lark Engineering will have a long and bright future.”
Fifth Third Bank provided debt financing for the transaction. O’Melveny & Myers LLP acted as legal advisor to Vance Street Capital and Secure Communication Systems in the transaction. Peter G. Sutherland & Associates served as financial advisor to Lark Engineering in the transaction.
About Lark Engineering
Lark Engineering, has a 27 year history of designing and manufacturing RF Filters for the commercial, industrial, and military business segments. The compan’s designs cover a variety of RF filtering applications and form factors. The filters are manufactured in an ITAR approved facility in Mexico, providing cost competitive solutions for its customers.
About Secure Communication Systems
Secure Communication Systems designs and manufactures high reliability tactical mission computing systems, encryption equipment, communications products and related equipment for defense and industrial applications.The company offers handhelds, rugged tablet PCs, workstations and servers, routers, accessories, translators, tactical displays, and ultra-mobile PCs for various branches of the military as well as for civilian applications. The company was founded in 1986 and is based in Santa Ana, CA. For more information please visit: www.securecomm.com.
About Vance Street Capital
Vance Street Capital is a Los Angeles-based private equity firm that makes control investments in companies with enterprise values up to $200 million. Preferred industries include precision industrial manufacturing, aerospace & defense and medical components and devices. For over two decades, Vance Street’s partners have worked with management, family owners and other co-investors to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com.