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PE firm Greenbriar acquires defense and security company Arotech

An affiliate of private equity firm Greenbriar Equity Group LP closed its acquisition of Arotech Corp. under a $3.00-per-common-share, all-cash deal, equating to approximately $80 million.

Following closing, which took place Dec. 19, the defense and security company's shares were de-listed from the Nasdaq Global Market.

B. Riley FBR Inc. and Lowenstein Sandler LLP were Arotech's financial and legal advisers, respectively. Kirkland & Ellis LLP was Greenbriar's legal adviser.