Advent-Backed Cobham Studies Deal for Defense Peer Mercury (2)

Advent International-backed UK defense firm Cobham said it’s weighing an acquisition of Mercury Systems Inc., a US peer that this week announced it’s exploring strategic alternatives.

Shonnel Malani, an Advent managing partner and Cobham’s chairman, said in an interview Wednesday that the company is looking seriously at Andover, Massachusetts-based Mercury as defense spending increases around the world.

“Mercury would be the perfect fit,” he said, adding that Cobham and Mercury are both leading global players in the servicing of radar components.

Malani’s comments come a day after Mercury announced it had begun a strategic review. Shares in ...