The Globe and Mail reports in its Wednesday, May 20, edition that private equity executive Louis Vachon is partnering with Cobham Ultra's senior managers to acquire its tactical communications business, creating a new Canadian defence company named Marconi Technologies. The Globe's Nicolas Van Praet writes that an investor group is acquiring the Ultra I&C unit from Advent International to create an independent military equipment supplier under Canadian ownership, emphasizing strong national ties. The purchase price was not disclosed. Mr. Vachon will be chairman of the company, which will have an operational and decision-making centre located in Montreal. Alain Cohen, a former associate partner at McKinsey & Co., is leading the business as chief executive officer while Faith Rhodes, who previously worked at EY-Parthenon and CAE, is chief operating officer and Canadian market president. Both Ms. Rhodes and Mr. Cohen are veterans of the Canadian Armed Forces. Mr. Vachon, who joined J.C. Flowers & Co. after leading National Bank of Canada as CEO for 14 years, is an honorary lieutenant-colonel of the Fusiliers Mont Royal, a primary reserve infantry regiment of the Canadian Army.