Private equity firm FR Capital has purchased data management and communications technology provider Fregata Systems in a bid to penetrate the market for command, control, communication, computers, cyber, intelligence, surveillance and reconnaissance platforms.
The acquisition is one of FR Capital’s planned strategic investments in the C5ISR sector for the next 36 months, FR Capital co-creator FON Advisors said Monday.
Mike Twyman, former president of Cubic‘s mission solutions business and previous Wash100 Award recipient, will lead Fregata as its CEO. He previously held a 14-year career at Northrop Grumman (NYSE: NOC) that included tenure as vice president and general manager of the company’s defense systems division.
FON Advisors, a financial advisory company focused on the aerospace, defense and government services industries, formed FR Capital with investment firm Rotor Capital.