Belcan to acquire Tandel Systems

Belcan, LLC (“Belcan”), a global supplier of engineering consultancy services and technical staffing solutions, announced today that it has acquired Tandel Systems, Inc. (“Tandel”). Terms of the transaction – which closed today – were not disclosed.

Tandel Systems, founded in 2001, is headquartered in Oldsmar, Florida, with more than 215 employees operating in offices in the United States. The company provides technical services and support to customers in the aerospace and defense sectors. Belcan is owned by AE Industrial Partners, LLC (“AE Industrial”), a private equity investor in aerospace, power generation and specialty industrial companies.

“Tandel Systems brings class-leading products and services to Belcan, through its automated test equipment design, development and support for Fortune '500' clients,” said Lance Kwasniewski, Chief Executive Officer of Belcan. “Tandel's advanced avionics and software development processes extends our end-to-end ability to support our clients from concept to aftermarket test and support. In addition, the company has a demonstrated ability to deliver firm, fixed-price contracts at high quality, integrating hardware and software.”

“Belcan has long been known to us as a leader in the aerospace and defense industries,” said Mike Varga, Chief Executive Officer, Tandel Systems. “We are enthusiastic about the new horizons open to us and our customers, now that we are part of Belcan's extensive global network.”

“The Tandel engineering solutions, technical services and test systems complement Belcan's array of consultancy and staffing solutions,” said David H. Rowe, Managing Partner of AE Industrial. “Together, both companies have a number of new and exciting growth and expansion opportunities.”

Kirkland & Ellis LLP served as legal advisor and PricewaterhouseCoopers LLP served as financial advisor to Belcan and AE Industrial Partners.