First Atlantic sells TestEquity

First Atlantic Capital Ltd said May 11 that it has sold its majority stake in TestEquity to LKCM Headwater Investments. Financial terms were not disclosed. TestEquity, of Moorpark, California, distributes electronic test and measurement equipment as well as laboratory and production supplies. Robert W. Baird acted as investment bankers and Dechert LLP served as legal counsel to First Atlantic Capital.

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