KippsDeSanto & Co. advises Axim Geospatial, LLC on its sale to NV5 Global, Inc.

KippsDeSanto & Co. is pleased to announce the sale of its client, Axim Geospatial, LLC (“Axim” or the “Company”), a portfolio company of Bluestone Investment Partners, to NV5 Global, Inc. (“NV5”), a public, leading provider of professional and technical engineering and consulting solutions.

Headquartered in Wisconsin, Axim’s 340 employees operate out of four offices and have delivered geospatial services in 180 countries and seven continents. Axim utilizes over 200 high-tech, proprietary geospatial tools to support repeatable, scalable, and efficient geospatial data production and presents opportunities for synergies associated with NV5’s high-altitude data acquisition capabilities.

Axim offers four core delivery models, which fuse deep geospatial expertise and high-tech-enabled solutions with proprietary software tools to address critical business and national security challenges, including Survey and Mapping, Enterprise GIS and Cloud Services, Critical Infrastructure and Security, and Business Solutions and Analytics to deliver customized solutions to meet clients’ critical business challenges.

Axim leverages it platinum partnerships with leading geospatial information systems (“GIS”) software platforms, Esri and Cityworks, and deep domain knowledge to deliver custom geospatial solutions and agile applications to its customers.

Axim has built enduring customer relationships characterized by ongoing and long-term mission support of funded programs which have solidified franchise positions with high-profile geospatial consumers across multiple markets, including the National Geospatial-Intelligence Agency (“NGA”) and the Department of Defense (“DoD”). Customers incorporate the Company’s geospatial solutions into critical programs supporting national security, emergency response preparedness, climate resiliency, and infrastructure protection.

The acquisition will further expand and diversify NV5’s customer base to include new federal, state and local government, and commercial clients, strengthen NV5’s leadership position in geospatial utility solutions, and presents opportunities for synergies associated with NV5’s high-altitude data acquisition capabilities.

This transaction highlights several key trends in the Enterprise and Government Technology markets as geospatial information and technologies have become a ubiquitous part of everyday services and are central to the business models of many digital disruptors:

• Significant market demand for leading-edge, next-generation technologies at the confluence of cloud computing, geospatial data analytics, and machine learning that help improve business decision-making, performance, and operational efficiency
• Robust public buyer activity and appetite for new technology and horizontal investments, particularly for companies with leading market positions that can serve as internal “centers of excellence”
• Private equity activity in the market remains high as “buy-and-build” strategies continue to establish portfolio companies with strong industry fundamentals, reputation, and scale

KippsDeSanto & Co is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on 200 industry transactions since 2008, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience. For more information, visit www.kippsdesanto.com.

Securities and investment banking products and services are offered through KippsDeSanto & Co., a non-banking subsidiary of Capital One, N.A., a wholly owned subsidiary of Capital One Financial Corporation. KippsDeSanto is a member of FINRA and SIPC. Products or services are Not FDIC Insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured By Any Federal Governmental Agency.

KippsDeSanto & Co. Advises Blackhawk Aerospace on its sale to New State Aviation Holdings, a portfolio company of New State Capital Partners

KippsDeSanto & Co. is pleased to announce the sale of its client, Blackhawk Aerospace (“Blackhawk” or the “Company”) to New State Capital Partner’s general aviation-focused platform, New State Aviation Holdings (“NS Aviation”). Blackhawk is comprised of Blackhawk Modifications, Inc. (“BMI”), Blackhawk Aerospace Solutions, LLC (“BAS”), and Blackhawk Aerospace Technologies, Inc. (“BAT”). Blackhawk joins NS Aviation’s anchor aviation investment AVEX, which was acquired in December 2021. Both companies will continue to operate under their existing brands while broadening NS Aviation’s offerings through collaboration.

Headquartered in Waco, TX, with other locations in Columbia, MO and Huntsville, AL, Blackhawk is a leading provider of aircraft performance upgrades, primarily for the general aviation and government turboprop markets with a focus on engine and avionic upgrades. Blackhawk’s aircraft upgrades significantly improve aircraft performance by increasing climb, cruise, fuel efficiency, payload capacity, safety, and mission capability in special operations such as skydiving, humanitarian, and surveillance. Since its founding in 1999 as BMI, Blackhawk strategically added divisions for government support, maintenance, avionics, composites, and aircraft sales. The composites business is not included in this transaction and will continue independently operating under a new brand and name.

Since inception, Blackhawk has developed and obtained a wide range of Federal Aviation Administration Supplemental Type Certificates (“STCs”) and various corresponding foreign validations for leading turboprop platforms. Specifically, the Company has significant experience working with all King Airs as well as other aircraft that use the world’s most popular engine in its class, the Pratt & Whitney Canada PT6A. Additionally, the Company leverages its avionic STCs to upgrade a variety of popular systems, to include avionics from Collins Aerospace, Garmin, and Honeywell. Blackhawk Aerospace has served customers across multiple platforms and the “Blackhawk” brand is recognized throughout the industry as the go-to provider for aircraft engine and avionic upgrades.

AVEX is an authorized distributor and recommended service center of Daher TBM turboprops and has delivered more than 1,000 TBM aircraft currently in service. AVEX also manages a robust maintenance and aftermarket services business, providing a one-stop solution and a high level of customer service to TBM owners across the country.  AVEX’s extensive experience and knowledge in the aircraft aftermarket services market, coupled with the strength of Blackhawk’s brand, market reputation, and upgrade offerings, is expected to help accelerate NS Aviation’s growth.

With Blackhawk as part of its portfolio, NS Aviation will now offer a broader suite of services and solutions to the light turbine market across a wider variety of platforms.

We believe this transaction demonstrates several key trends in the Aerospace & Defense M&A environment:

• Emphasis on highly differentiated offerings with a focus on delivering proprietary performance-enhancing solutions for aircraft engine and avionic upgrades
• Strong outlook and growth prospects within the Business Jet and General Aviation markets
• Continued private equity interest in Aerospace & Defense targets that add immediate scale and unique access to strategic partnerships within the industry

About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 175 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

NEW STATE AVIATION HOLDINGS ACQUIRES BLACKHAWK AEROSPACE

Performance improvement leader joins Daher TBM provider AVEX, expanding general aviation platform

LARCHMONT, NY – January 3, 2023 – New State Capital Partners (“New State”) announced today that its general aviation-focused platform, New State Aviation Holdings (“NS Aviation”), has acquired Blackhawk Aerospace (“Blackhawk” or “the Company”), a recognized leader in aircraft performance improvements. Blackhawk joins NS Aviation’s anchor aviation investment AVEX, a leading provider of sales and maintenance for the Daher TBM turboprop aircraft, which was acquired in December 2021. AVEX and Blackhawk will continue to operate independently, while working together to expand NS Aviation’s offerings.  Blackhawk’s management will remain with the Company. Terms of the transaction were not disclosed.

Headquartered in Waco, TX, with more than 60 employees, Blackhawk provides engine upgrades for a broad range of turboprop planes, improving an aircraft’s speed, safety, and climb capabilities, while extending engine life. The Company serves customers worldwide in the commercial and government markets. Blackhawk was founded in 1999 as Blackhawk Modifications, Inc, and added divisions for government support, maintenance, avionics, composites, and aircraft sales. The composites business is not included in the transition and will remain independent.

“This transformative acquisition more than doubles the size of our business and allows us to expand aircraft platforms serviced,” said Chad Cundiff, CEO of New State Aviation Holdings. “AVEX is a market leader in sales, brokerage and maintenance of the Daher TBM, and Blackhawk is the market leader in turboprop engine upgrades. Together, they will allow New State Aviation Holdings to offer a broader suite of services and meet more needs of light turbine aircraft owners, across a variety of aircraft manufacturers.”

“We are very excited to join New State Aviation Holdings and partner with the folks at AVEX,” said Blackhawk CEO Jim Allmon. “Our family of companies shares a singular focus: to increase an aircraft’s capabilities to unrivalled heights while maintaining the highest level of safety possible. We look forward to working with Chad and the rest of the New State Aviation team to further expand our services.”

“We are thrilled to have Blackhawk join our platform”, added Daniel Han, Senior Principal at New State and Chairman of New State Aviation Holdings.  “As the market leader in engine upgrades and STC development, Blackhawk represents a significant step towards our goal of being the premier service provider for the light turbine market.  More importantly, the outstanding reputation and culture of Blackhawk, focused on people and customers first, will mesh seamlessly with that of AVEX.  We believe this combination will build on the strengths at AVEX, expand our capabilities and enable us to provide the highest levels of service, quality and expertise in general aviation.”

Strong demand for AVEX and Blackhawk products and services has driven record backlogs for both companies and signals a bright future for New State Aviation Holdings.

About New State Capital Partners

New State Capital Partners is an entrepreneurial-minded private equity firm that strives to be nimble, decisive, and cooperative. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships with company founders and especially independent sponsors. The firm has the ability to invest up to $100 million in equity per transaction and seeks to invest in market-leading companies with $8 million to $40 million of EBITDA in the areas of business services, industrials, and consumer. New State and its affiliates have invested in more than 35 companies to date. For more information visit www.newstatecp.com

 About Blackhawk Aerospace

Blackhawk Aerospace is the recognized leader in performance improvements for turboprop aircraft. Founded in 1999 in Waco, Texas, the company serves customers worldwide in the commercial and government markets. Today, Blackhawk Aerospace is comprised of Blackhawk Aerospace Upgrades, Blackhawk Aerospace Solutions, and Blackhawk Aerospace Technologies. A worldwide network of approved dealers and service support centers complements Blackhawk’s U.S. facilities. Visit www.blackhawk.aero for more information.

https://www.blackhawk.aero/company/.

 About AVEX

AVEX is a leading aircraft dealer in North America with a robust maintenance and aftermarket services platform focused on the Daher TBM. With more than 1,000 aircraft in service, the TBM has an enviable position in the single-engine turboprop market.  AVEX was founded in 1985 and has operations in Colorado and California. For more information visit www.newAVEX.com.

 Media contact:

Lambert

Joanne Lessner

jlessner@lambert.com

212-222-7436

 

 

KippsDeSanto & Co. advises Woodlawn Manufacturing, Ltd., a portfolio company of Lone Star Investment Advisors, on its sale to National Defense Corporation, a subsidiary of National Presto Industries, Inc. (NYSE: NPK)

KippsDeSanto & Co. is pleased to announce the sale of its client, Woodlawn Manufacturing, Ltd. (“Woodlawn” or the “Company”) to National Defense Corporation (“NDC”), a subsidiary of National Presto Industries, Inc.

Headquartered in Marshall, TX, Woodlawn is a precision manufacturer of machined metal parts and assemblies for the defense industry. The Company is a first- and second-tier supplier to the U.S. military, manufacturing missile warhead bodies, countermeasure flare components, and other ammunition metal components that require a high degree of precision. Since its founding in 1973, the Company has maintained long-term relationships with blue chip customers including General Dynamics, Chemring, Northrop Grumman, TransDigm, AMTEC, and the Department of Defense.

The transaction augments NDC’s portfolio of explosive manufacturing, assembly, machining, and forming capabilities supporting the Department of Defense.

We believe this investment demonstrates several key trends in the current Aerospace / Defense M&A environment:

• Return to consistent, high-visibility programs with increased demand resulting from global conflicts
• Focus on established relationships with prime defense contractors
• Significant value placed on ability to deliver orders efficiently and effectively despite supply chain constraints

About Lonestar Investment Advisors Based in Dallas, Texas, Lone Star Investment Advisors shares the mission to make equity and equity-oriented investments in middle-market companies located in low to moderate income communities in the State of Texas. Lone Star has successfully invested in all types of economic and financial conditions. The firm invests in a wide variety of industry sectors including manufacturing, industrial, distribution, business services and energy.

About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity, and industry experience. We help market leaders realize their full strategic value. Having advised on over 175 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience. For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

National Presto Industries, Inc. Acquires Woodlawn Manufacturing, Ltd.

October 26, 2022

National Presto Industries, Inc. (NYSE: NPK) announced today that its wholly owned subsidiary, National Defense Corporation, and newly formed subsidiary Woodlawn Manufacturing, LLC, acquired the equity interests of Woodlawn Manufacturing, Ltd, located in Marshall, Texas. Woodlawn Manufacturing, Ltd, is a high volume manufacturer of precision metal parts and assemblies primarily for the defense and aerospace industry. The company is a first- and second-tier supplier to the United States military, producing rocket warhead bodies, countermeasure flare cases and other ammunition metal parts. It has annual sales of approximately $18,000,000. Major customers include U.S. government agencies, AMTEC and other defense contractors.

 National Presto Industries, Inc. operates in three business segments. The Housewares/Small Appliance segment designs and sells small household appliances and pressure cookers under the PRESTO® brand name. The segment is recognized as an innovator of new products. The Defense segment manufactures a variety of products, including medium caliber training and tactical ammunition, energetic ordnance items, fuzes, cartridge cases, and metal parts. The Safety Segment consists of three startup companies. The first is Rusoh, Inc., which designs and markets the Rusoh® Eliminator® fire extinguisher, the first owner-maintained fire extinguisher. The second is OneEvent Technologies, Inc. It offers systems that provide early warning of conditions that if not corrected, could ultimately lead to significant losses. The third is Rely Innovations, Inc., which designs and sells carbon monoxide detectors for residential use.

This release contains “forward looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. In addition to the factors discussed above, other important risk factors are delineated in the Company’s various SEC filings.