Federal also owned Hoffman Engineering, a company that made electronic enclosures. In 1985, a group of private investors, including Kelso & Company, BancBoston Capital, and members of company management purchased Federal. Federal and Hoffman engineering were united under the name Federal-Hoffman and taken private during the sale. In 1988, Pentair, a diversified manufacturer based in Minnesota, agreed to acquire FC Holdings Inc., the holding company for Federal-Hoffman, for $175 million in cash and the assumption of debt. Federal-Hoffman has since split, and Federal is currently owned by Vista Outdoor. Vista Outdoor, formerly the outdoor and sporting goods division of Alliant Techsystems, was spun off in February 2015. Federal Cartridge does business today as Federal Premium Ammunition.