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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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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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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KippsDeSanto & Co. Industry Week in Review – February 9, 2024

Industry Week in Review – February 9, 2024

M&A Transactions

BAE Systems Plc (LSE: BA) has acquired Malloy Aeronautics, a provider of all electric uncrewed aerial systems designed for military operational use and select commercial / civilian applications with the ability to lift payloads from 68kg to 300kg over short to medium range missions. Terms of the transaction were not disclosed.

Birdon America Inc., a subsidiary of Birdon Pty Ltd., has acquired Metal Shark Boats Shipyard, a subsidiary of Gravois Aluminum Boats LLC and provider of fully developed shipyard capabilities including shipbuilding and repair services throughout the U.S. that support the delivery of the Waterways Commerce Cutter Program, a vital component of Birdon’s $1.2 billion contract to design and build 27 new vessels for the U.S. Coast Guard. Terms of the transaction were not disclosed.

CBRE Group, Inc. (NYSE:CBRE) has agreed to acquire J & J Worldwide Services, a portfolio company of Arlington Capital Partners and provider of facilities support services to U.S. federal government civilian, defense, and homeland security markets. The transaction is valued at $1.1 billion, including $800 million of upfront cash and up to $250 million of contingent consideration.

Celerity Government Solutions LLC (dba: Xcelerate Solutions), a portfolio company of McNally Capital, LLC has acquired VMD Systems Integrators, Inc., a provider of cybersecurity, digital infrastructure, and agile engineering services to the private sector and U.S. federal government civilian, defense, and homeland security markets. Terms of the transaction were not disclosed.

Pinnacle X-Ray Solutions, LLC, a portfolio company of Altus Capital Partners, has acquired Willick Engineering Co, Inc, a provider of best-in-class turn-key nondestructive testing x-ray systems, real-time inspection services, and professional radiographic systems repair and support services to military, aerospace, and related industries. Terms of the transaction were not disclosed.

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

Industry Week in Review – January 19, 2024

M&A Transactions

Airbus Helicopters SAS, a subsidiary of Airbus SE (ENXTPA: AIR), has agreed to acquire Aerovel Corp., a provider of Flexorator, a small, tactical unmanned aerial system designed for intelligence, surveillance, target acquisition, and reconnaissance missions at sea and over land with a flight endurance of more than 30 hours and 120km communications range. Terms of the transaction were not disclosed.

Arcline Investment Management, LP, has agreed to acquire Kaman Corporation (NYSE: KAMN), a provider of proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals; springs and contacts; wheels, brakes, and related hydraulic components; complex metallic and composite aerostructures; and a variety of munitions, MRO, and services for various commercial, military, general aviation fixed, rotary wing, and UAV aircraft. The transaction is valued at $1.8 billion.

CORE Industrial Partners has acquired Aviation Concepts, LLC, a provider of mission-critical, high-quality, nose-to-tail serviceable material aircraft parts, avionics, rotable components, actuation systems, hydraulics, landing gear, and auxiliary power units with applications across a variety of aircraft fleets to the aftermarket commercial aviation industry. Terms of the transaction were not disclosed.

John Cockerill Group has agreed to acquire Arquus SAS, a subsidiary of Volvo AB (OM: VOLV B) and provider of a complete range of medium armoured vehicles and drivelines with an extensive range of advanced, high-mobility wheeled military vehicles for heavier combat vehicles in private sector and international government defense markets. Terms of the transaction were not disclosed.

Leonid Capital Partners has made a strategic investment in Infinite Composites, a provider of innovative, advanced materials specializing in composite pressure vessel designs that are lightweight and significantly reduce gas storage costs, enhance performance through mass reductions, and extend mission lifespans in support of both government and commercial space missions and energy transitions globally. Terms of the transaction were not disclosed.

RTC Aerospace, LLC, a portfolio company of Stellex Capital Management, has acquired Vanderhorst Brothers, Inc., a provider of complex machined components and high-precision parts for Tier 1 and OEM customers in the aerospace, defense, and space industries. Terms of the transaction were not disclosed.

Sunshine Avionics, a subsidiary of HEICO Corporation (NYSE: HEI), has acquired the Exclusive License and Key Related Assets for select Display Product Lines from Honeywell International (NASDAQ: HON), a provider of Boeing 737NG / 777 Cockpit Displays and Legacy Displays product lines with the capability to produce, sell, and repair these displays in addition for other legacy displays for B717, ATR, and select business and general aviation aircraft. Terms of the transaction were not disclosed.

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