ACR Electronics confirmed that the 56-year-old company was acquired by an investment fund managed by J.F. Lehman & Co., a middle-market private equity firm focused on defense, aerospace and maritime sectors.
ACR most recently was a business unit of Cobham Commercial Systems, according to the company.
The acquisition by J.F. Lehman follows a yearlong effort by ACR/Cobham Commercial Systems to consolidate additional business units — Tracking and Locating military radios and Artex Emergency Locator Transmitter Products — into the ACR operation in Fort Lauderdale. ACR employs 180 people there.
ACR, which was founded in 1956, designs and makes a complete line of safety and survival products sold through the ACR and Artex brand names. The products include ELTs, EPIRBs, PLBs, SART, strobe lights, life jacket lights, searchlights and safety accessories.
“This marks a new chapter in the long and proud history of ACR Electronics,” general manager Michael Wilkerson said in a statement. “ACR and Artex earn its customers’ trust and continued business by building the world's most reliable products. Knowing that our products must work without failure, we employ rigorous quality management systems second to none.”