KippsDeSanto & Co. Industry Week in Review – July 19, 2024

Industry Week in Review – July 19, 2024

M&A Transactions

Amphenol Corp. (NYSE: APH) has agreed to acquire the Outdoor Wireless Networks and Distributed Antenna Systems Businesses of CommScope Holding Company, Inc. (NasdaqGS: COMM), a provider of base station antennas, radio frequency filters, microwave antennas, metro cell products, accessories and a wireless spectrum management business for government markets. The transaction is valued at $2.1 billion.

Blackstone Inc. (NYSE: BX) has agreed to acquire Trystar, Inc., a portfolio company of Goldner Hawn LP and provider of portable and industrial electrical cable and electrical power panel equipment for public sector, healthcare, and industrial markets. Terms of the transaction were not disclosed.

KBR, Inc. has agreed to acquire LinQuest Corp., a portfolio company of Madison Dearborn Partners and a provider of engineering, acquisition, operations services integration, deployment, command and control, and information systems that deliver critical network centric solutions for U.S. federal defense markets. The transaction is valued at $737 million.

Torrent Photonics, a portfolio company of DBHCAP LLC, has acquired Knight Optical Ltd., a provider of custom and catalog optical components and sub-assemblies for defense, medical, and pharmaceutical markets. Terms of the transaction were not disclosed.

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KippsDeSanto & Co. Industry Week in Review – June 7, 2024

Industry Week in Review – June 7, 2024

M&A Transactions

Cerberus Capital Management has acquired the Hypersonics and Test Systems Business Units of Calspan, a subsidiary of TransDigm Group, Inc. (NYSE:TDG) and independent provider of end-to-end solutions and capabilities for designing, analyzing, manufacturing, and testing complex and mission-critical aerospace, defense, and hypersonic systems. KippsDeSanto & Co. acted as financial advisor to TransDigm. Terms of the transaction were not disclosed.

Curtiss-Wright Corp. (NYSE:CW) has agreed to acquire Ultra Electronics Energy, a subsidiary of Ultra Electronics Holdings Ltd., a portfolio company of Advent International Corp. and provider of reactor protection systems, neutron monitoring systems, radiation monitoring systems, and temperature and pressure sensors that support U.K. defense, aerospace, and other industrial applications. The transaction is valued at $200 million.

Greenbriar Equity Group, L.P. has acquired Sunvair Aerospace Group, Inc., a portfolio company of Blue Sea Capital, LLC and provider of maintenance, repair, and overhaul services for flight-critical avionics, hydraulics, cargo rollers and thermal spray processing across commercial and military aircraft markets. Terms of the transaction were not disclosed.

HP Inc. (NYSE:HPQ) has acquired CyberCore Technologies, LLC, a portfolio company of NexPhase Capital, and provider of cybersecurity, systems integration, secure supply chain management and IT managed services for private sector and U.S federal government aerospace, defense, and technology markets. Terms of the transaction were not disclosed.

Ingersoll-Rand Inc. (NYSE:IR) has acquired Del PD Pumps & Gear Pvt Ltd, CAPS Australia Pty Ltd, and Fruvac Ltd, providers of industrial equipment, machines, and services specializing in gear pumps, power generation, and other peripheral parts and systems across a variety of industrial markets. The total transaction is valued at $150 million.

Joby Aviation, Inc. (NYSE:JOBY) has acquired Xwing, Inc., a portfolio company of Unless Management, and provider of autonomous flight software solutions for commercial flight of vertical takeoff and landing (“VTOL”) and fixed-wing aircraft across U.S. government, aerospace, and defense markets. Terms of the transaction were not disclosed.

Pexco, LLC, a portfolio company of Odyssey Investment Partners, LLC, has acquired the Connecticut-based manufacturing operations of Clayens NP, a portfolio company of One Equity Partners, LLC and provider of high-performance plastic CNC machining, milling, multi-axis turning, swiss machining, annealing, vapor polishing, and assembly solutions for aerospace, defense, and infrastructure markets. Terms of the transaction were not disclosed.

Tyto Athene, LLC, a portfolio company of Arlington Capital Partners, has agreed to acquire Mindpoint Group LLC, a provider of end-to-end managed cybersecurity services such as cyber defense, governance, risk, compliance architecture, engineering, and proactive security services for private sector and U.S. federal government civil, financial, and judicial markets. Terms of the transaction were not disclosed.

Wynnchurch Capital, L.P. has acquired Hydraulic Technologies, a subsidiary of SPX Flow, Inc., a portfolio company of Lone Star Funds, and a provider of high-pressure hydraulic pumps, tools, shop equipment, workholding automation, and railway track systems for aerospace and other applicable industrial applications. Terms of the transaction were not disclosed.

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KippsDeSanto & Co. Industry Week in Review – April 19, 2024

Industry Week in Review – April 19, 2024

M&A Transactions

Accenture Federal Services, LLC, a subsidiary of Accenture plc (NYSE: ACN), has agreed to acquire Cognosante Holdings, LLC, a provider of technology solutions, business process outsourcing, and consulting services to private sector and U.S. federal government defense and healthcare markets. Terms of the transaction were not disclosed.

Blue Delta Capital Partners has made a strategic investment in Herrick Technology Laboratories, Inc., a provider of integrated hardware and software products and systems including a factor-wideband recorder, multichannel transceiver, and portable antennas for the U.S. Department of Defense (“DoD”). The transaction is valued at $25 million.

Godspeed Capital Management LP has acquired Special Aerospace Services, LLC, a provider of propulsion, avionics, systems, safety, launch site integration, and procurement of mission-critical hardware systems for aerospace, aviation, defense, and energy markets worldwide. Terms of the transaction were not disclosed.

SE&C Holdings, LP, a portfolio company of Bernhard Capital Partners Management, has acquired Strategic Management Solutions, LLC, a provider of program management, procurement and supply chain expertise, special nuclear material and high hazard operations, decontamination and demolition, and project delivery \ and integration services to the U.S. Department of Energy (“DOE”). Terms of the transaction were not disclosed.

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KippsDeSanto & Co. Industry Week in Review – March 22, 2024

Industry Week in Review – March 22, 2024

M&A Transactions

Albion River LLC has acquired Maytag Aircraft Corp., a subsidiary of Worldwide Flight Services Inc., a subsidiary of SATS Ltd. (SGX: S58), and provider of aircraft fueling services, air terminal services, ground handling services and base operations support exclusively to the U.S. Department of Defense. KippsDeSanto & Co. acted as financial advisor to Maytag Aircraft. The transaction is valued at $46 million.

Black Sea Technologies, LLC, a portfolio company of Razor’s Edge Management, LLC, has acquired Blue Tide Marine LLC, a provider of specialized maritime logistics services for private sector and U.S. federal government markets. Terms of the transaction were not disclosed.

LMI, a portfolio company of Declaration Partners, Capitol Meridian Partners, and 22C Capital, has acquired JJR Solutions, LLC, a provider of low-code, cloud based applications with human-centered design and agile principles for private sector and U.S. federal government defense and healthcare markets. Terms of the transaction were not disclosed.

Precise Systems, Inc., a portfolio company of Bluestone Investment Partners, LLC, has acquired Jardon & Howard Technologies, Inc., a provider of training & simulation, technical documentation, environmental and marine sciences, and other professional services for private sector, aerospace, and defense markets. Terms of the transaction were not disclosed.

Rheinmetall AG (XTRA: RHM) has acquired REEQ B.V., a provider of lightweight electromobility tactical transport vehicles such as Unmanned Ground Vehicles, side-by side buggies, and quads for commercial, private sector, and international government defense markets. Terms of the transaction were not disclosed.

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KippsDeSanto & Co. Industry Week in Review – March 8, 2024

Industry Week in Review – March 8, 2024

M&A Transactions

Ampaire, Inc. has acquired Magpie Aviation, Inc., a provider of decarbonized aviation services to overcome short range electrical aircraft limitations for private sector, aerospace, and defense markets. Terms of the transaction were not disclosed.

Avion Solutions, Inc. has acquired Synectic Research and Analysis, Inc., a provider of test planning and analysis, software development, and modeling and simulation solutions for US federal government defense markets. Terms of the transaction were not disclosed.

Iridium Communications Inc. (NASDAQGS: IRDM) has agreed to acquire Satelles, Inc., a provider of highly secure low Earth orbit satellite management technology to deliver assured positioning, navigation, and timing via a secure satellite broadcast signal that complements and protects Global Positioning System and other Global Navigation Satellite Systems for private sector and U.S. federal government markets. The transaction is valued at $143.8 million.

Luxium Solutions, LLC, a portfolio company of SK Capital Partners and Edgewater Capital Partners, has agreed to acquire PLX, Inc., a portfolio company of Tinicum Capital Partners and provider of high-quality, advanced monolithic optics with inhouse manufacturing and environmental testing facilities, performance testing capabilities, and optical analysis equipment for commercial, aerospace, defense, and industrial markets. Terms of the transaction were not disclosed.

McDanel Advanced Ceramic Technologies, LLC, a portfolio company of Artemis Capital Partners, has acquired Rayotek Scientific, Inc., a provider of advanced optical window and mirror systems specializing in a variety of sapphire, glass, and related advanced materials for aerospace, defense, space, and semiconductor industries. Terms of the transaction were not disclosed.

Safran Nacelles SAS, a subsidiary of Safran S.A. (ENXTPA: SAF), has acquired 3D Metal Forming, a provider of manufacturing of prototype and series parts utilizing High Energy Hydro Forming technology to enable production of Monolithic Integrated Structures from thick plate for aerospace, architectural, and energy markets. Terms of the transaction were not disclosed.

Systems Planning and Analysis, Inc. a portfolio company of Arlington Capital Partners, has acquired parts of ManTech International Corporation’s technical advisory services business, a portfolio company of The Carlyle Group, and the programs acquired provide highly specialized research and development-driven solutions for US federal government defense and intelligence markets. Terms of the transaction were not disclosed.

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