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Industry Week in Review – December 18, 2020

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KippsDeSanto & Co. Industry Week in Review – December 18, 2020

Industry Week in Review – December 18, 2020

M&A Transactions

ManTech International Corporation has acquired Tapestry Technologies, a provider of cyber defense solutions and expertise, including cyber architecture and policy development, DevSecOps-based systems, and software engineering and cyber training. Terms of the transaction were not disclosed. KippsDeSanto & Co. served as the financial advisor to Tapestry Technologies.

Amphenol Corp has agreed to acquire MTS Systems Corp, a provider of advanced test systems, motion simulators, and precision sensors. The transaction is valued at $1.7 billion.

 CCP Capital Strategies has acquired Executive Information Systems, a provider of software and related platforms for public sector clients in support of their missions. Terms of the transaction were not disclosed.

Charger Investment Partners has agreed to acquire Advanced Composite Products and Technologies, a provider of engineered composite structures for defense, space, aviation, automotive, marine, and subsea telecom applications. Terms of the transaction were not disclosed.

Federal Republic of German has agreed to acquire Hensoldt (a portfolio company of KKR), a provider of defense and security electronics for civilian and military defense. Terms of the transaction were not disclosed.

Intelligent Waves has acquired Ski Systems, Inc., a provider of mobility and cybersecurity technology to intelligence agencies. Terms of the transaction were not disclosed.

Leidos Holdings, Inc. has agreed to acquire 1901 Group, a portfolio company of Enlightenment Capital, and a provider of cloud, cybersecurity, and enterprise-scale digital modernization services and capabilities that improve performance and reduce costs. The transaction is valued at $215 million.

Liberty Hall Capital Partners has agreed to acquire Comply365, a provider of operational content and compliance management solutions supporting the aerospace industry. Terms of the transaction were not disclosed.

Maven Capital Partners has acquired Envitia Group plc, a provider of data and geospatial technology and services to the defense and public sectors. The transaction was valued at £17 million.

Octo Consulting Group, Inc., a portfolio company of Arlington Capital Partners, has combined with Sevatec, Inc., a provider of mission-critical software development solutions and digital modernization services. Terms of the transaction were not disclosed.

Oshkosh Corp has agreed to acquire Pratt & Miller Engineering and Fabrication, a provider of advanced engineering technology, innovation, and robotics for ground vehicle markets. Terms of the transaction were not disclosed.

Redwire LLC (a portfolio company of AE Industrial) has acquired LoadPath LLC, a provider of payload adapters, deployable structures, and thermal products for the space industry. Terms of the transaction were not disclosed.

Sagepeak Capital LLC has agreed to acquire ENMET LLC, a provider of oxygen monitors and toxic and combustible gas detectors for aerospace and defense applications. Terms of the transaction were not disclosed.

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Industry Week in Review – December 11, 2020

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KippsDeSanto & Co. Industry Week in Review – December 11, 2020

Industry Week in Review – December 11, 2020

M&A Transactions

Mercury Systems Inc. has agreed to acquire Physical Optics Corp., a provider of avionics and mission subsystems for defense applications. The transaction is valued at $310 million. KippsDeSanto & Co. served as the financial advisor to Physical Optics Corp.

AeroVironment, Inc. has agreed to acquire Telerob GmbH, a provider of ground based robotic solutions. Terms of the transaction were not disclosed.

American Industrial Partners has agreed to acquire SEACOR, a diversified holding company with interests in domestic and international maritime transportation and logistics, crisis and emergency management.  Terms of the transaction were not disclosed.

ByLight Professional IT Services, Inc., a portfolio company of Sagewind Capital, LLC, has acquired Raydon Corporation, a provider of full lifecycle solutions, including engineering, custom manufacturing, and supply chain management solutions in support of the DoD’s virtual training and simulation programs.Terms of the transaction were not disclosed.

J.F. Lehman & Company has acquired CodeMettle, LLC, a provider of custom software development and proprietary software solutions for the management of critical communication networks. Terms of the transaction were not disclosed.

Leidos has agreed to acquire 1901 Group, a provider for managed IT services and cloud solutions in the private and public markets. Terms of the transaction were not disclosed.

Veritas Capital has agreed to acquire the Federal IT and Mission Support Services business of Northrop Grumman, a provider of a wide range of advanced technology solutions including cybersecurity, data analytics, cloud, mission-critical application development, and advanced engineering to defense, intelligence, space, civil, and health customers. The transaction is valued at $3.4 billion.

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Industry Week in Review – December 4, 2020

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KippsDeSanto & Co. Industry Week in Review – December 4, 2020

Industry Week in Review – December 4, 2020

M&A Transactions

Swish Data Corp. has acquired Titania Solutions Group, Inc., a provider of DevSecOps services, intelligence training and operations, and drone and counter-drone activities within the public sector market.  Terms of the transaction were not disclosed.  KippsDeSanto & Co. served as the financial advisor to Titania Solutions Group, Inc.

ASGN Incorporated has acquired Integrated Solutions Management, Inc., a provider of industry-leading expertise in internet of things technology, IT services, and operations management services.  Terms of the transaction were not disclosed.

CAE, Inc. has agreed to acquire TRU Simulation + Training Canada, Inc., a subsidiary of Textron, Inc., and a provider of industry-leading training devices, programs, and support for the aerospace and defense industries.  The transaction is valued at $40 million.

FLIR Systems, Inc. has acquired Altavian, Inc., a provider of small unmanned aerial systems for customers in the defense and public safety sectors.  Terms of the transaction were not disclosed.

Jacobs Engineering Group, Inc. has acquired The Buffalo Group, a provider of advanced analytics, advanced targeting, cybersecurity, cloud mitigation, DevSecOps, identity intelligence and biometrics, human intelligence, open-source and social media analysis, geospatial intelligence, cyber threat intelligence, and artificial intelligence / machine learning.  Terms of the transaction were not disclosed.

 Jacobs Engineering Group, Inc. has agreed to acquire a 65% stake in PA Consulting Group, a portfolio company of The Carlyle Group, and a provider of consulting services, technology solutions, and innovation solutions.  The remaining stake in the business will be held by PA Consulting Group employees.  The acquisition values the company at approximately $2.4 billion.

 Jane’s Group UK Limited, a portfolio company of Montagu Private Equity, has agreed to acquire Global Platform & Systems, a subsidiary of the Avascent Group, Ltd., and a provider of defense market analytics and industry intelligence solutions.  Terms of the transaction were not disclosed.

Kratos Defense & Security Solutions, Inc. has acquired 5-D Systems, Inc., a provider of designing, development, integration, testing, modifications, and support to unmanned, manned, and optionally piloted vehicles.  Terms of the transaction were not disclosed.

 NuWave Solutions, LLC, a portfolio company of AE Industrial Partners, has acquired Open Solutions Group, Inc., doing business as BigBear, Inc., and a provider of cloud-based big data analytics solutions to the national security community.  Terms of the transaction were not disclosed.

Ontic Engineering and Manufacturing, Inc., a portfolio company of CVC Capital Partners, has acquired the Aircraft Instruments Product Line from Flightline Electronics Inc., a subsidiary of Ultra Electronics Holdings plc, and a provider of electro-mechanical and digital instruments used on various commercial and military platforms.  Terms of the transaction were not disclosed.

 Salesforce, Inc. has agreed to acquire Acumen Solutions, a provider of cloud consulting services, including customer service, sales acceleration, engagement marketing, on-demand analytics, financial analysis, and digital transformation solutions.  Terms of the transaction were not disclosed.

 A joint venture between SK Group and Plasan has acquired ELVO, a provider of armored infantry vehicles and other armored vehicles for the Greek military.  Terms of the transaction were not disclosed.

 The Timken Company has acquired Aurora Bearing Company, a provider of rod ends and spherical plain bearings for industrial sectors including aerospace and defense.  Terms of the transaction were not disclosed.

TransDigm Group, Inc. has agreed to acquire Cobham Aero Connectivity, a subsidiary of Cobham Ltd., a portfolio company of Advent International Corporation, and a provider of highly engineered antennas and radios for the aerospace end market.  The transaction is valued at $965 million.

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Industry Week in Review – November 13, 2020

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KippsDeSanto & Co. Industry Week in Review – November 13, 2020

Industry Week in Review – November 13, 2020

M&A Transactions

AE Industrial Partners, LP has acquired Linkware, LLC, and PRE, LLC, doing business as Pangiam. Linkware is a provider of custom software solutions and consulting services to federal government organizations, and Pangiam is a provider of security and travel consulting services to government and commercial customers across a variety of industries. Terms of the transactions were not disclosed.

 Avantus Federal, a portfolio Company of NewSpring Holdings, has acquired MissionTech Solutions, a provider of consulting and solutions services for national security data and technology. Terms of the transaction were not disclosed.

Calian Group Ltd. has acquired Cadence Consultancy Ltd., a provider of complex and realistic training environments for both defense and civil clients across Europe and worldwide. Terms of the transaction were not disclosed.

GCOM Software LLC, a portfolio company of Sagewind Capital, has acquired 20/20 Teknology, LLC, a provider of managed services and systems integration services. Terms of the transaction were not disclosed.

ManTech International Corporation has acquired Minerva Engineering, a provider of advanced cyber solutions, including risk vulnerability assessment and cyber intrusion detection. Terms of the transaction were not disclosed.

Pacific Defense, backed by HCI Equity Partners and Emerald Lake Capital Management, has acquired Spear Research, a provider of electronic warfare, signals intelligence, and autonomous networked sensor systems. Terms of the transaction were not disclosed.

Raytheon Technologies Corp. has agreed to acquire Blue Canyon Technologies, Inc., a provider of small satellites and spacecraft systems components.  The transaction is valued at $350 million.

Rosewood Private Investments has acquired General Informatics, a provider of IT managed services, cloud services, and IT constancy. Terms of the transaction were not disclosed.

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Industry Week in Review – November 6, 2020

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KippsDeSanto & Co. Industry Week in Review – November 6, 2020

Industry Week in Review – November 6, 2020

M&A Transactions

Belcan, LLC, a portfolio company of AE Industrial Partners, has acquired TELESIS Corp., a provider of innovative information technology solutions for large, complex government customers with a focus on highly differentiated services that deliver mission-critical solutions to its customers.  Terms of the transaction were not disclosed.

OpenGate Capital Management, LLC has acquired Aurotech, Inc., a provider of digital services and business solutions for US federal healthcare and adjacent civilian agencies for which it designs and implements information technology plans and builds technology powered business tools.  Terms of the transaction were not disclosed.

Sabena Technics has acquired AeroTech Pro, a provider of airframe maintenance in the military field.  Terms of the transaction were not disclosed.

TE Connectivity has acquired DRI Relays, Inc., a subsidiary of FIRST SwitchTECH, a provider of electro-mechanically hermetically sealed relays, time delay devices, and sockets for applications that require high reliability and long life in harsh environments.  Terms of the transaction were not disclosed.

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Industry Week in Review – October 16, 2020

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KippsDeSanto & Co. Industry Week in Review – October 16, 2020

Industry Week in Review – October 16, 2020

M&A Transactions

Arotech Corp., has acquired UST-Aldetec Group, a portfolio company of Cornerstone Capital Holdings, LLC, and a provider of engineering, manufacturing, and services specializing in complex, mission critical electronic components. The terms of the transaction were not disclosed.

 Broadtree Partners LLC has acquired Seanair Machine Co., Inc., in strategic partnership with AE Industrial Partners Structured Solutions I, LP. Seanair is a provider of OEM precision machined parts in support of tactical airlift, stealth tactical fighters. The terms of the transaction were not disclosed.

 Consolidated Machine & Tool Holdings, a portfolio company of White Wolf Capital, has acquired Delva Tool & Machine Corp, a provider of contract machining, fabrication engineering, and complex assembly services for aerospace and defense customers. The terms of the transaction were not disclosed

 Israel Aerospace Industries has acquired 50 percent stake in BlueBird Aero Systems Ltd., a provider of micro, mini, and tactical UAS equipment. The terms of the transaction were not disclosed.

Welsh, Carson, Anderson & Stowe has agreed to acquire GovernmentCIO, a provider of high-end technology and digital solutions to the Federal Health IT Services market. The terms of the transaction were not disclosed.

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Industry Week in Review – October 9, 2020

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KippsDeSanto & Co. Industry Week in Review – October 9, 2020

Industry Week in Review – October 9, 2020

M&A Transactions

AEVEX Aerospace, LLC, a portfolio company of Madison Dearborn Partners, LLC, and CoVant Management, has acquired IKHANA Group Inc. and Geodetics, Inc., a provider of aircraft engineering, modification, and maintenance solutions, and a provider of commercial high-precision positioning and navigation solutions. The terms of the transaction were not disclosed.

Avantus Aerospace, Inc., a portfolio company of Inflexion Private Equity and Auctus Industries, has acquired California Screw Products Corp., a provider of c-class and composite parts for the aerospace and defense industry. The terms of the transaction were not disclosed.

Honeywell International, Inc. has acquired Rocky Research, a portfolio company of DC Capital Partners, and a provider of customized engineering and analytical services to commercial, industrial, and defense customers. The terms of the transaction were not disclosed.

IMG Companies, LLC, a portfolio company of Addison Capital Partners, has acquired Larkin Precision Machining, Inc., a provider of design, manufacturing, and engineering services for complex, close-tolerance components. The terms of the transaction were not disclosed.

Lockheed Martin has agreed to acquire a portion of Integration Innovation Inc. (i3), a provider of engineering, training, analytical and technology development services to government and commercial customers. The terms of the transaction were not disclosed.

Sierra Bullets, LLC, a subsidiary of Clarus Corp., has acquired Barnes Bullets, LLC, a subsidiary of Remington Arms Company, LLC, and a provider of environmentally sound, lead-free bullets for hunting, self-defense, and tactical applications. The transaction is valued at $30.5 million.

Stable Road Acquisition Corp. has agreed to acquire Momentus, Inc., a provider of in-space transportation and infrastructure services. The transaction is valued at $1.2 billion.

Xenith Solutions, LLC has acquired TRI-COR Industries, Inc., a provider of large-scale, enterprise Agile solutions that fuse Scrum and Kanban, Extreme Programming (XP) engineering, and DevOps best practices to the federal and local governments. The terms of the transaction were not disclosed.

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Industry Week in Review – October 2, 2020

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KippsDeSanto & Co. Industry Week in Review – October 2, 2020

Industry Week in Review – October 2, 2020

M&A Transactions

DLH Holdings Corp. has acquired Irving Burton Associates, LLC, a provider of research, systems development, and other technology-enabled solutions to the DHA, TATRC, USAMRDC, and other DoD agencies. The transaction is valued at $32 million. KippsDeSanto acted as exclusive financial advisor to Irving Burton Associates, LLC.

 Tetra Tech, Inc. has acquired BlueWater Federal Solutions, Inc., a provider of information technology solutions, cybersecurity, applications development, and development and operation of federal enterprise systems for US government clients. The terms of the transaction were not disclosed. KippsDeSanto acted as exclusive financial advisor to BlueWater Federal Solutions, Inc.

ASGN Incorporated has acquired Skyris, LLC, a provider of remote sensing science, data science, and geospatial solutions in support of IC, defense, and national security missions. The terms of the transaction were not disclosed.

DC Capital Partners Management, LP, has acquired Digital Force Technologies, LLC, a provider of proprietary force protection and surveillance products and solutions for the special operations community. The terms of the transaction were not disclosed.

Snow Phipps Group, LLC, has acquired Prototek Sheetmetal Fabrication, a portfolio company of CORE Industrial Partners, and a provider of CNC machined and sheet metal fabricated components for customers across end markets, such as aerospace, defense, and robotics. The terms of the transaction were not disclosed.

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Industry Week in Review – September 11, 2020

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KippsDeSanto & Co. Industry Week in Review – September 11, 2020

Industry Week in Review – September 11, 2020

M&A Transactions

Avon Rubber plc has agreed to acquire Team Wendy, LLC, a provider of head protection systems for military, law enforcement, search and rescue, and adventure markets.  The transaction was valued at $130 million.

Compass Precision, LLC, a portfolio company of Main Street Capital Holdings, LLC, has acquired Gray Manufacturing Technologies, LLC, a provider of precision metal components for the space, aerospace, and defense industries.  Terms of the transaction were not disclosed.

Intelsat S.A. has agreed to acquire the Commercial Aviation business of Gogo, Inc., a provider of in-flight broadband connectivity.  The transaction was valued at $400 million.

Noblis, Inc. has acquired Inductive Minds, LLC, a provider of systems engineering, cloud hosting, and analytics support to the Intelligence Community, Department of Defense, and other Federal clients.  Terms of the transaction were not disclosed.

 ThreatConnect, Inc., a portfolio company of Providence Equity Partners, has acquired Nehemiah Security, LLC, a provider of cybersecurity solutions and services to enterprise and government clients in the rapidly growing Cyber Risk Quantification (“CRQ”) space.  Terms of the transaction were not disclosed.

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Industry Week in Review – August 20, 2020

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KippsDeSanto & Co. Industry Week in Review – August 20, 2020

Industry Week in Review – August 20, 2020

M&A Transactions

Baird Capital has acquired eCube Solutions Limited, a provider of storage, disassembly, and recycling services to global aircraft owners in Europe, the Middle East, and Asia, including major airlines and aircraft leasing companies. Terms of the transaction were not disclosed.

Consolidated Machine & Tool Holdings, LLC, a portfolio company of White Wolf Capital, LLC, has acquired Specialty CNC, Inc., a provider of contract machining and complex assembly services for the defense, aerospace, and medical industries. Terms of the transaction were not disclosed.

Consolidated Machine & Tool Holdings, LLC, a portfolio company of White Wolf Capital, LLC, has acquired Waiteco Machine, Inc., a provider of contract precision machining, fabrication, assembly, and design of highly engineered components for the aerospace, defense, and various other industries. Terms of the transaction were not disclosed.

HEICO Corp’s Electronic Technologies Group has acquired Connect Tech, Inc., a provider of rugged, small-form-factor embedded computing solutions and custom design services. Terms of the transaction were not disclosed.

KBR, Inc. has acquired Centauri, LLC, a provider of space, directed energy, and other advanced technology solutions to the United States Intelligence Community and Department of Defense. The transaction was valued at $800 million. KBR will use $300 million in cash on hand and $500 million of debt to fund the transaction.

Kymeta Corp. has acquired Lepton Global Solutions, LLC, a provider of customized, turnkey satellite communications solutions to commercial and government customers. Terms of the transaction were not disclosed.

MAG Aerospace, a portfolio company of New Mountain Capital, LLC, has acquired Remotely Piloted Solutions, LLC, a provider of unmanned aircraft system solutions to complex requirements in the areas of training, test and logistics, along with a variety of commercial solutions, including training, requirements and licensing consulting, surveying, disaster and emergency response, infrastructure and emissions inspections, thermal imaging, 3D and 4D mapping, livestock monitoring, and security. Terms of the transaction were not disclosed.

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