Rafael Advanced Defense Systems Ltd. has completed the acquisition of PVP Advanced EO Systems, Inc. (PVP AEO) through its U.S. subsidiary Rafael USA, Inc.
The acquisition was executed under a stock purchase agreement (SPA) transferring 100% of stock to Rafael USA, Inc.
The transaction was approved under CFIUS review authorization, governed by a national security agreement (NSA).
Prior to the acquisition, PVP AEO was a privately-owned, California-based company, specializing in the development, manufacturing and sustainment of world-class electro-optic (EO) systems for air, land, sea and critical homeland security applications.
The company was founded in 1997 and is located in Tustin, CA. Recent programs include Integrated Fixed Towers (IFT) and Mobile Video Surveillance Systems (MVSS) for the Customs and Border Patrol on the southern border.
PVP AEO is active in North and South America, Asia and the Middle East.
“This acquisition is part of RAFAEL’s continued strategic investments, with the purpose of transferring cutting-edge state-of-the-art technologies, products and systems into the United States in support of U.S. national security. Until recently most of RAFAEL’s operations in the U.S. were in partnership with U.S. Tier-1 prime contractors, while the majority of workshare was manufactured in Israel. PVP AEO will complement and enhance engineering and manufacturing capabilities stateside, while strengthening our U.S. supply chain to better support our prime contractors and U.S. warfighters.” Maj. Gen. (ret.) Yoav Har Even, President and CEO, Rafael Advanced Defense Systems
“PVP AEO is committed to continue supporting its existing and emerging customers. This acquisition provides the opportunity to enhance and create new products and capabilities. For PVP AEO employees and families, this venture means stability, growth and well-being. It will create more jobs for PVP AEO, as well as for its nation-wide supply chain. PVP AEO retains its identity, brand, products, technologies, services, personnel, culture, management and charitable community giving.” Bruce Ferguson, President and CEO, PVP AEO