ATLANTA, GA--(Marketwired - November 11, 2014) - Harbert Private Equity Fund III, L.P. ("HPEF III") announced that on November 5th, it acquired 100% of the assets of Flight Display Systems and its affiliated entities (collectively "FDS") while also appointing Mr. Reed Macdonald, a prior executive of the company, its Chief Executive Officer. HPEF III's acquisition vehicle was FDS Avionics Corp. d/b/a Flight Display Systems.