CVC, Blackstone, Advent and EQT eye €2bn Robin Radar deal
CVC, Blackstone, Advent and EQT are among the potential bidders considering offers for Dutch drone detection specialist Robin Radar Systems, which could be valued at around €2bn in a sale by private equity owner Parcom, according to a report by Reuters.
CVC, Blackstone, Advent and EQT are among the potential investors eyeing a possible €2 billion acquisition of Dutch drone detection firm Robin Radar Systems, according to a Reuters report. The private equity firm Parcom, which currently owns the Delft-based company, is working with JPMorgan to initiate a sale process expected to commence later this year.
BAE Systems is also reportedly conducting early-stage bid explorations for Robin Radar. Earlier in the summer, CVC and Blackstone submitted an offer that was ultimately rejected. Parcom aims to attract a European strategic or private equity buyer who can develop the technology within Europe, due to increasing political scrutiny over ownership of strategic defense and technology assets.
Founded in 2010, Robin Radar initially developed radar systems for bird detection around airports before expanding into drone detection and counter-drone solutions. The company's technology is currently utilized by governments and at significant international events. Last year, the Netherlands placed an order for 100 early-warning radars from Robin Radar following reports of drone activity near an airport and military base.
A sale at the proposed €2 billion valuation would be among the larger recent transactions in Europe's defense sector, reflecting heightened investor interest and government efforts to bolster domestic and regional defense capabilities.
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