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Advent’s Ultra Electronics exploring sale of signature management and power business

Advent International-backed Ultra Electronics is exploring a sale of its signature management and power business, said five sources familiar with the matter.

Lazard is advising on the potential divest, four of the sources said. The business generates around USD 50m in EBITDA, these sources noted. Books have not yet been distributed to prospective buyers, they added.

Private equity firms and strategics are expected to show interest in the business, three of the sources noted.

The business is part of Ultra’s maritime segment and its systems are installed on US Navy and UK Royal Navy fleets as well as allied navies worldwide.

Advent-backed Cobham completed its GBP 2.5bn (USD 3.1bn) acquisition of Ultra Electronics in 2022. Advent acquired Cobham in 2020 for GBP 4bn (USD 5bn).

Advent International and Lazard declined to comment. Cobham and Ultra Electronics did not return requests for comment.