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Industry Week in Review – July 12, 2024

KippsDeSanto & Co. Industry Week in Review – July 12, 2024

Industry Week in Review – July 12, 2024

M&A Transactions

The Chenega Corp. has acquired Securigence, LLC, a provider of cyber security solutions for private sector and U.S. federal government defense and intelligence markets. Terms of the transaction were not disclosed.

ESCO Technologies, Inc. (NYSE: ESE) has acquired the Signature Management and Power business of Ultra Maritime, a subsidiary of Ultra Electronics Holdings Ltd., a subsidiary of Cobham Ltd., a portfolio company of Advent International Corp. and a provider of fully ruggedized power conversion and signature management solutions for both submarines and surface ships in the U.S. and U.K. naval defense markets. The transaction is valued at $550 million.

Markon, LLC, a portfolio company of Sterling Investment Partners, L.P., has agreed to acquire Advanced Systems Engineering Corp., a provider of management, systems engineering, finance, cybersecurity, and software development services to U.S. federal government customers, particularly within the Intelligence Community. Terms of the transaction were not disclosed.

Platinum Equity, LLC has agreed to acquire Héroux-Devtek Inc. (TSX: HRX), a provider of the design, manufacturing, repair, and overhaul of specialized landing gear solutions for international aerospace markets. The transaction is valued at $1.3 billion.

Signia Aerospace, a portfolio company of Arcline Investment Management, L.P, has agreed to acquire the Goodrich Hoist & Winch business of Collins Aerospace, a subsidiary of RTX Corp. (NYSE:RTX) and a provider of the manufacturing and design of helicopter rescue hoists and cargo winches built to withstand extreme conditions for international civil and military markets. Terms of the transaction were not disclosed.

SIXGEN, Inc., a portfolio company of Washington Harbour Partners, L.P., has acquired Secure Enterprise Engineering, Inc., a provider of disruptive cybersecurity system engineering, architecture, and operational capabilities for private sector and U.S. federal government defense markets. Terms of the transaction were not disclosed.

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Industry Week in Review – June 7, 2024

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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Industry Week in Review – May 24, 2024

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

Industry Week in Review – May 24, 2024

M&A Transactions

Macquarie Capital has acquired Earth Resources Technology, Inc. (“ERT”), a provider of scientific, engineering, environmental, and technology services and solutions for US federal agencies. KippsDeSanto & Co. acted as financial advisor to ERT. Terms of the transaction were not disclosed.

TransDigm Group, Inc. (NYSE: TDG) has acquired SEI Industries Ltd., a provider of structurally engineered fabric products and related systems for aerial firefighting and other liquid transportation solutions serving private sector, U.S. federal government, and international defense markets. The transaction is valued at $170 million.

Valkyrie Enterprises, LLC, a portfolio company of DC Capital Partners, has acquired Ship 2 Shore, Inc., a provider of industrial corrosion-inhibiting products and remediation support services for U.S. federal government, international government, and private sector markets. Terms of the transaction were not disclosed.

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Industry Week in Review – April 19, 2024

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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Industry Week in Review – April 12, 2024

KippsDeSanto & Co. Industry Week in Review – April 12, 2024

Industry Week in Review – April 12, 2024

M&A Transactions

Epiq Design Solutions, Inc., a portfolio company of Veritas Capital Fund Management, LLC, has acquired CyberRadio Solutions, a subsidiary of G3 Technologies, Inc. a provider of high-performance radio frequency products including tuners, downconverters, and switch matrix signal generators for defense and intelligence markets. Terms of the transaction were not disclosed.

H.I.G. Capital, LLC, has acquired Segers Aerospace Corporation, a provider of maintenance, repair, and overhaul services with a complete suite of engine, accessory, and propeller services for aerospace, defense, and private sector markets. Terms of the transaction were not disclosed.

J.F. Taylor, Inc. has acquired Clear Creek Applied Technologies, Inc., a provider of mission-critical simulation, training solutions development, and test and evaluation services for private and U.S. federal government aerospace and defense markets. Terms of the transaction were not disclosed.

Kanders & Company, Inc. has agreed to acquire the Antenna and Test Equipment Businesses of L3Harris Technologies, Inc. (NYSE: LHX), a provider of airborne and ground based antennas, and electromagnetic systems and simulators for applications across the U.S. Department of Defense and commercial markets. The transaction is valued at $200 million.

Luxium Solutions, LLC, a portfolio company of SK Capital Partners and Edgewater Capital Partners, has agreed to acquire Inrad Optics, Inc. (OTCPK: INRD), a provider of the development and vertically-integrated manufacturing of custom crystal photonic components and devices for private sector, aerospace, defense, and scientific markets. The transaction is valued at $19 million.

RealmOne, a portfolio company of Enlightenment Capital, has acquired Torin Consulting, Inc, a provider of custom software development, server administration, network engineering, cyber security, and DevOps solutions for private sector and U.S. federal government intelligence markets. Terms of the transaction were not disclosed.

Tyto Athene, LLC, a portfolio company of Arlington Capital Partners, has acquired Microtel LLC, a provider of systems engineering for mission critical flight software used to operate rovers, robotic spacecraft and other onboard flight applications for U.S. federal government and international space markets. Terms of the transaction were not disclosed.

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Industry Week in Review – March 22, 2024

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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Industry Week in Review – March 15, 2024

KippsDeSanto & Co. Industry Week in Review – March 15, 2024

Industry Week in Review – March 15, 2024

M&A Transactions

J.F. Lehman & Co. has acquired Mission Microwave, LLC, a portfolio company of Gaas Labs LLC and provider of solid-state power amplifiers and block upconverters with key capabilities in advanced gallium nitride transistors, unique power combining technology, and novel full-system designs for ground-based, airborne, maritime, and space-based applications across government and commercial markets. Terms of the transaction were not disclosed. KippsDeSanto & Co. acted as financial advisor to Mission Microwave.

Aeronix Technologies Group, a portfolio company of ShoreView Industries, LLC, has acquired Augustus Aerospace Company, a provider of integrated space-based mission payloads with specialization in communications, radar, position, navigation, and timing systems for defense and intelligence community customers. Terms of the transaction were not disclosed.

Aeronix Technologies Group, a portfolio company of ShoreView Industries, LLC, has acquired Systems Integration Plus, a provider of ruggedized mission computing solutions for applications on a variety of air, ground, and naval defense platforms. Terms of the transaction were not disclosed.

ArmorWorks Enterprises, LLC, a portfolio company of Littlejohn Capital, LLC, has acquired Fox Valley Metal Tech, Inc., a provider of complex precision metal fabrications specializing in custom electrical enclosures and consoles, components and fabrications for military trailers, radar systems, and watertight compartments for use on naval ships and other critical defense applications. Terms of the transaction were not disclosed.

Crosslake Group, LLC has acquired Continental Aircraft Support, Inc. and Magnum Aircraft Repair Services, Inc., providers of maintenance, repair, and overhaul (“MRO”) services with key specialization in instruments, avionics, pneumatics, electrical accessories, mechanical accessories, galley equipment, and hydraulic components for aerospace, defense, and commercial markets. Terms of the transaction were not disclosed.

Teledyne Technologies, Inc. (NYSE: TDY) has agreed to acquire Valeport Ltd., a provider of underwater sensors including sound velocity probes, current and flow meters, and conductivity, temperature, and depth sensors for environmental, energy, construction, and defense markets. Terms of the transaction were not disclosed.

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Industry Week in Review – March 8, 2024

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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Industry Week in Review – February 23, 2024

KippsDeSanto & Co. Industry Week in Review – February 23, 2024

Industry Week in Review – February 23, 2024

M&A Transactions

High Point Aerotechnologies, LLC, a portfolio company of Highlander Partners L.P., has acquired Flex Force Enterprises, Inc., a provider of innovative drone defense and remote and stabilized weapons solutions across the UAS and Counter-UAS markets for private sector and aerospace and defense customers. Terms of the transaction were not disclosed.

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Industry Week in Review – February 16, 2024

KippsDeSanto & Co. Industry Week in Review – February 16, 2024

Industry Week in Review – February 16, 2024

M&A Transactions

Albers Aerospace has acquired Onepath Systems, LLC, a provider of turnkey onsite installation, maintenance, technical integration, and operational services for the defense, government, and commercial sectors. Terms of the transaction were not disclosed.

BlueHalo, LLC, a portfolio company of Arlington Capital Partners, has agreed to acquire Eqlipse Technologies, a portfolio company of Arlington Capital Partners, and provider of identity intelligence, advanced research and development, and cyber engineering solutions for private sector and U.S. federal government defense and intelligence markets. Terms of the transaction were not disclosed.

Crimson Phoenix, a portfolio company of Godspeed Capital Management LP, has acquired Seaford Consulting LLC, a provider of full-systems lifecycle, integrated business, mission & information technology (“IT”) solutions for private sector and U.S. federal government markets. Terms of the transaction were not disclosed.

De Havilland Aircraft of Canada, a portfolio company of Longview Aviation Capital Corp, has acquired the Calgary Manufacturing Operations of Field Aerospace, a portfolio company of Trive Capital, and provider of build-to-print parts and subassemblies for chemical processing, heat treating, and non-destructive testing for the commercial aerospace industry. Terms of the transaction were not disclosed.

Indra Sistemas S.A. (BME: IDR) has acquired the remaining 65% stake in Global Aviation Training SL, a provider of simulation systems and training programs for private sector and international government aeronautical markets. Terms of the transaction were not disclosed.

Motorola Solutions (NYSE: MSI) has acquired Silent Sentinel Ltd., a provider of security cameras specializing in long-range cooled and uncooled thermal cameras, shortwave infrared (“SWIR”) cameras, ultra low-lowlight cameras, and illumination technologies for aviation, maritime, coastal surveillance, defense, and military markets. Terms of the transaction were not disclosed.

Sigma Defense Systems, LLC, a portfolio company of Sagewind Capital, LLC, has acquired Juno Technologies, Inc., a provider of IT engineering, systems integration, software development, and technical support to U.S. federal government aerospace, defense, and naval markets. Terms of the transaction were not disclosed.

Teledyne Technologies, Inc. (NYSE: TDY) has agreed to acquire Adimec Advanced Image Systems B.V., a provider of high performance industrial and scientific cameras that deliver true and accurate images for the private sector and international government machine vision, healthcare, and global security markets. Terms of the transaction were not disclosed.

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