Advertisement
This is member-exclusive content
icon/ui/info filled

businessLocal Companies

Dallas private equity firm Highlander snatches up anti-drone tech company

Liteye will anchor Highlander’s unmanned aircraft systems division called High Point Aerotechnologies.

Dallas private equity company Highlander Partners LP is buying Colorado counter-drone maker Liteye Systems to anchor its new unmanned aerial division.

Highlander, led by Centex co-founder Laurence Hirsch, bought Liteye for an undisclosed price to be a part of its new High Point Aerotechnologies focused on drones and the defense industry.

The private equity firm made a splash in 2021 when it sold one of its investments, the parent company of Plano-based nutritional supplement maker Bettera Holdings LLC, for $1 billion to a New Jersey firm. Highlander has dozens of investments in firms globally from food manufacturers to technology startups and more than $3 billion in assets under management.

Advertisement
Business Briefing

Become a business insider with the latest news.

Or with:

Liteye is a player in the newly developing counter-unmanned aerial system arena that’s designed to detect and take down drones for both military and commercial purposes. Liteye started in 2000 as a manufacturer of thermal cameras and head-mounted displays, but switched in 2015 to focus on counter-drone technology. It is based in Centennial, Colo., and also has a sales office in the United Kingdom.

In May, Liteye won a $12.1 million contract from the U.S. Department of Defense for its technology that takes down smaller drones up to about 55 pounds and flying lower than 3,500 feet.

Advertisement

“Despite meaningful private and public investment, many of today’s C-UAS solutions lag advancements in offensive drone technology,” Highlander CEO Jeff Hull said in a statement. “However, Liteye’s system of systems approach and technology provide a leading solution to the market compared to many other C-UAS platforms.”

Liteye’s co-founders Kenneth Greyer and Tom Scott plan to remain with the company through the acquisition.

Highlander formed the High Point division in May to tap into the drone and anti-drone market, hiring former U.S. Army senior special operations officer Jim Gavrilis to run the team.

Advertisement

“This is the first business acquired but the goal is that it won’t be the last,” Highlander partner Ben Slater said.