Company Name: CEA Technologies
Sector: Defence
Company Website: www.cea.com.au
Date Invested: September 2000
Date Exited: March 2006
Exit Mechanism: Trade sale to Northrop Grumman Corporation
    
CEA researches, develops and commercialises radar and communications technologies. At the time the investment was held, CEA had a significant portfolio of Intellectual Property (IP) which was created through the completion of a number of major projects. The company developed internal mechanical engineering and manufacturing capabilities to complement the core research and development activities.

CEA had a broad radar capability base with applications extending across all operational environments, including fixed land based through to maritime and mobile land applications.  The technology base also included radar signal processing. CEA also developed technology that allowed for automatic detection tracking and classification.

We introduced various potential strategic partners, which led to the acquisition by Northrop Grumman.  We initiated a change process to move the sale of the business from founder-oriented to a professional management structure.  

A partial sale (100% of the equity held by Propel Investments’ clients) to Northrop Grumman occurred in March 2006.