KippsDeSanto & Co. advises Mission Microwave Technologies, LLC, a portfolio company of GaAs Labs LLC, on its sale to an investment affiliate of J.F. Lehman & Company

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KippsDeSanto & Co. advises Mission Microwave Technologies, LLC, a portfolio company of GaAs Labs LLC, on its sale to an investment affiliate of J.F. Lehman & Company

KippsDeSanto & Co. is pleased to announce the sale of its client, Mission Microwave Technologies, LLC (“Mission” or the “Company”) to an investment affiliate of J.F. Lehman & Company (“JFLCO”), a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors.

Founded in 2014 and headquartered in Cypress, CA, Mission is a leading provider of Solid-State Power Amplifiers (“SSPAs”) and Block Upconverters (“BUCs”) to the satellite communications market. The Company’s X, Ku and Ka Band units support critical ground-based, airborne, maritime and space-based applications, for government and commercial customers that require high efficiency, reliability and performance. Utilizing advanced gallium nitride (“GaN”) transistors, unique power combining technology, and novel full-system designs, Mission provides the industry’s most efficient, lightweight, and compact high-power devices.

Francis Auricchio, Co-Founder, President, and CEO of Mission commented, “JFLCO represents the perfect partner to support the next stage of our Company’s evolution.  JFLCO offers a unique combination of deep industry knowledge and relationships, commercial and operational expertise, and substantial capital we will leverage to accelerate our growth, product portfolio expansion and further advance our technological leadership.  The entire Mission team is excited to continue to deliver innovative solutions to our customers’ complex and ever-changing challenges under JFLCO’s sponsorship.”

JFLCO is partnering with Mission’s prior shareholders, (affiliates of GaAs Labs LLC), founders and management, who will remain material shareholders in the business and continue to lead Mission as the Company pursues the next phase of its growth.

This transaction highlights several key trends in the M&A market:

  • Significant market demand for technology-driven companies developing cutting-edge solutions that address the increasing need for bandwidth, data, and connectivity
  • Financial sponsors remain active for premium assets, particularly for companies with leading market positions, control over IP and design of all key technologies, differentiated capabilities, and enduring relationship with well-funded customers
  • Companies deeply embedded on signature programs with high-profile Federal agencies and commercial customers remain extremely coveted
  • Continued focus on high-growth companies that are providing mission-enabling technology and aligned with Federal and commercial budgetary trends and strategic priorities

Read more in the full press release.

 

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 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.

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.