Behrman pays dividend in defense recap

The New York and San Francisco firm will enjoy a $337.5m recapitalisation of its defense and homeland-security portfolio company, ILC Industries, returning 1.5 times the equity invested by the buyout firm in 2003.

Behrman Capital, the New York- and San Francisco-based buyout firm, has recapitalised portfolio company ILC Industries in a transaction valued at $337.5 million.

ILC Industries, based in Bohemia, New York, provides microelectronic components for the aerospace and defense industries, as well as softgood materials to the space, military and homeland security industries.

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