South African company buys Windham antenna maker mWave
Courtesy / mWave Industries
mWave Industries, a Windham-based manufacturer of microwave antennas, has been sold to Alaris Holdings Ltd. of South Africa for $2.75 million.
A Windham-based manufacturer of microwave antennas, mWave Industries, has been sold to Alaris Holdings Ltd. (JSE: ALH) of South Africa for $2.75 million.
The deal includes $688,000 of Alaris stock and was completed Monday, according to a statement from Alaris.
The company plans to retain mWave’s management and 15 employees, mWave’s former parent, private equity firm Anania & Associates Investment Co., said Thursday in a news release.
With the acquisition, Alaris plans to headquarter its U.S. operations in Maine and will add hires in areas such as production control, accounting, sales and engineering, according to the release.
Peter V. Anania, chairman of the investment company, will serve on the Alaris board.
Anania & Associates, based in Portland, invested in launching mWave in 2004 with its three founders, Peter Farnum, Christopher Mosher and Michael Cahill. The trio were formerly employees of Scarborough-based Gabriel Antenna, which was acquired by General Dynamics Corp. in 2003 and moved to North Carolina.
Anania & Associates incubated mWave at another of the firm’s portfolio companies, MEGA Industries in Gorham. In 2015, mWave acquired Gabriel.
Today, mWave produces a wide range of antennas for commercial and government customers, including science, defense and academic applications.
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