Private equity firm Advent InternationalÂ has agreed to payÂ approximately $4.99B, including debt, forÂ U.K.-based aerospace and defense contractorÂ Cobham, Financial TimesÂ reported Wednesday. The price of the deal represents a premium of nearly 35 percent over the Wednesday closing stock price of Cobham.
CobhamÂ produces electronic, communications and mission systemsÂ designed for space, land, maritime and airborne applications. The company reported $2.3B in revenueÂ and $149.7M in after-tax profit for 2018.
Boston-based AdventÂ hasÂ managed assets worth a total of $36B as of March 31, according to the global investment company.