NBA Star David Robinson's Private Equity Firm Buys Company That Repairs Military Vehicles

Admiral Capital Group, a private equity and real estate firm co-founded by basketball hall-of-famer David Robinson, has agreed to buy military vehicle repair firm Tecmotiv Corp.The company has teamed up with investment firm RedNest Partners to buy Tecmotiv for an undisclosed sum, according to a statement Wednesday. Tecmotiv, with operations in Niagara Falls, New York and Concord, Ontario, provides maintenance, modification and repair services to light-armored military vehicles."In Tecmotiv, we are investing in a long-time trusted supplier to the U.S. military," Dan Bassichis, Admiral Capital's co-founder, said in the statement.Tecmotiv was formed in 1992 after acquiring assets from predecessor Levy Auto Parts, according to its website. Admiral, founded in 2008, raised $123 million in 2015 for its second fund, according to data compiled by Bloomberg.Kiel Porter, Bloomberg  Continue reading...