McDonnell Douglas Sells Computer Unit : Technology: The maintenance and hardward distribution division sold for $65 million to an investment group.

McDonnell Douglas Corp. sold its computer maintenance and hardware distribution division for $65 million to a group of investors that includes management and is led by the San Francisco buyout firm Menke Titolo Capital Corp., officials confirmed Sunday.

In a deal that closed Friday, McDonnell Douglas Field Services Co. will be renamed Novadyne Computer Systems Co.

The sale was the latest move by the aerospace firm to divest itself of unprofitable computer businesses that have suffered from a nationwide minicomputer-industry slump.

McDonnell Douglas has “been concentrating their efforts on their core (aerospace) business now for three or four years, and they reluctantly but correctly recognized that the resources available were not enough to pursue both non-aerospace interests and their existing, primary activities,” said one industry analyst.

Tymnet, a data communications network, was sold to British Telecom last November for $325 million.

The computer maintenance division has more than $100 million in revenue and provides computer maintenance services and distributes computer systems and workstations for business use, Menke Titolo said.

“Novadyne provides a stable base of revenue and is supported by an outstanding and seasoned management team that has a proven track record of profitability,” Vincent P. Titolo, chairman and chief executive of Menke Titolo, said in a statement.

Investment concerns, including the San Francisco firms of Lombard Investments and MBR Capital, provided equity capital. Debt financing was provided by Heller Financial and Rice Capital. Menke Titolo Capital Corp., an investment banking firm specializing in employee stock ownership and management buyouts, has offices in Minneapolis and New Jersey.