Holland & Knight Advises PVP Advanced EO Systems, Inc. in Acquisition by Major Israeli Defense Contractor
LOS ANGELES (June 27, 2022) – Holland & Knight represented PVP Advanced EO Systems, Inc. (PVP AEO) in its acquisition by Rafael Advanced Defense Systems Ltd., through its U.S. subsidiary Rafael USA, Inc. Rafael is a world-renowned Israeli-based defense contractor, specializing in cutting-edge, innovative and combat-proven systems, such as the famous Iron Dome. The transaction, which was announced on June 1, was approved under CFIUS review authorization, governed by a national security agreement.
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. 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.
The acquisition of PVP AEO complements and enhances Rafael's engineering and manufacturing capabilities stateside, while strengthening its U.S. supply chain to better support its prime contractors and U.S. warfighters.
Holland & Knight Partner Jay Bettinger and Associate Greg Cragg led the firm's representation of PVP AEO. They were assisted by Partners Mark Melton, Joshua Husbands and Antonia Tzinova, and Associate Libby Bloxom.
More information about the transaction can be found here.