Behrman Closes $330M Recap for Data Device Corp, The Spin-off of ILC Dover

Behrman Capital completed a dividend recapitalization for Data Device Corp. and a tax-free spin-off of ILC Dover to existing shareholders. The Data Device recapitalization consisted of a $300 million six-year term loan and a $30 million five-year revolving credit facility. Credit Suisse and GE Capital Corp. led the recapitalization. Behrman together with Clifford Lane acquired both businesses from ILC Industries in 2003 for $303 million. GE Capital also led the financing of a $37 million credit facility for Dover. Behrman is a private equity firm based in New York and San Francisco.

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