O’Melveny Advises InnoVista Sensors on Sale of Subsidiary BEI Precision Systems and Space Company

May 05, 2017


LOS ANGELES—May 5, 2017—O’Melveny represented InnoVista Sensors Ltd. (InnoVista), a portfolio company of The Carlyle Group, PAI Partners, and Schneider Electric, in the sale of InnoVista’s subsidiary BEI Precision Systems & Space Company, Inc. (BEI PSSC) to investment affiliates of J.F. Lehman & Company. BEI PSSC is a leading provider of precision positioning sensor technologies, which it delivers through advanced design, manufacturing, and testing for space, defense, and critical infrastructure applications.

InnoVista’s O’Melveny team was led by M&A partners John Laco and Nikole Kingston, assisted by associates Logan Tiari and Joshua Chow. O’Melveny partners Eric Amdursky, Chris Del Rosso, Courtney Dyer, Robert Fisher and Eric Rothenberg, assisted by counsel Bob Nicksin, advised InnoVista on labor and employment, employee benefits, antitrust, tax and environmental matters, respectively.

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Julie Fei
O’Melveny & Myers LLP

The following release was issued by JFL:

J.F. Lehman & Company Acquires BEI Precision Systems & Space Company

For Immediate Release

May 4, 2017

NEW YORK – J.F. Lehman & Company (“J.F. Lehman”), a leading middle-market private equity firm focused on the defense, aerospace and maritime sectors, is pleased to announce that an investment affiliate has acquired PSSC Holding Co. and its wholly owned subsidiary, BEI Precision Systems & Space Company, Inc. (collectively, “BEI PSSC” or the “Company”).

BEI PSSC is a leader in high-accuracy positioning sensor technologies, providing advanced design, manufacturing and testing for reliable and resilient products and systems. The Company’s core product lines, which are used primarily in mission-critical defense and space applications, include optical encoder-based positioning systems, scanners for situational awareness requirements and precision accelerometers. BEI PSSC is headquartered in Maumelle, Arkansas, and has a longstanding track record of technological innovation, with corporate roots dating back to 1862.

“BEI PSSC has an exceptional reputation for providing unique and highly accurate sensors to prime contractors and system providers in the defense and aerospace markets,” said Steve Brooks, Partner at J.F. Lehman. “The Company has a longstanding history supporting many important programs. We look forward to partnering with management to support the continued growth and future success of the business through organic development and complimentary bolt-on acquisitions.”

Jones Day provided legal counsel to J.F. Lehman. Miller & Chevalier advised in the area of government contracting and import / export and defense security compliance. Debt financing for the transaction was arranged by BNP Paribas and Barings. Evercore Partners provided financial advisory services to J.F. Lehman in connection with the acquisition and KippsDeSanto & Co. advised BEI PSSC.