KippsDeSanto & Co. Industry Week in Review – January 31, 2020

Industry Week in Review – January 31, 2020

M&A Transactions

ASGN Incorporated has acquired the Blackstone Technology Group’s Federal Division, a provider of agile application development, cloud modernization and systems architecture, cybersecurity, user experience design, and branding services to government clients. The transaction was valued at $85 million.

Comtech Telecommunications Corp. has acquired CGC Technology Limited, a provider of high precision full motion fixed and mobile X / Y satellite tracking antennas, reflectors, radomes, and other ground station equipment. The transaction was valued at $24 million.

Comtech Telecommunications Corp. has agreed to acquire Gilat Satellite Networks Ltd., a provider of satellite networking technology, solutions, and services with market leading positions in the satellite ground station and in-flight connectivity solutions market. The transaction was valued at $533 million.

Leonardo S.p.A. has agreed to acquire Kopter Group AG, a subsidiary of Lynwood AG, a provider of SH-09 single turbine helicopters. The transaction was valued at $185 million.

Mangrove Equity Partners, LLC has acquired Hi-Lite Airfield Services, LLC, a provider of specialized, mission-critical airfield maintenance services throughout North America and the Caribbean. Terms of the transaction were not disclosed.

MCM Capital Partners has acquired EB Industries, LLC, a provider of highly specialized outsourced precision manufacturing and engineering services related to complex critical components. Terms of the transaction were not disclosed.

Pioneer Metal Finishing, LLC, a portfolio company of Aterian Investment Partners, has acquired Pilkington Metal Finishing, a provider of metal finishing services for the aerospace and defense, medical devices, general industrial, consumer goods, and other industries. Terms of the transaction were not disclosed.

Precision Aviation Group, Inc., a portfolio company of GenNx360 Capital Partners, has acquired World Aviation Corp., a provider of rewind and repair services of rotary and static electrical (air and oil-cooled) generator and motor sub-components. Terms of the transaction were not disclosed.

Private investors have agreed to acquire the Ottawa-based electronic intelligence business of Ultra Electronics plc, a provider of nation-specific electronic intelligence and electronic support measures software and systems. Terms of the transaction were not disclosed.

Stanley Black & Decker, Inc. has agreed to acquire Consolidated Aerospace Manufacturing, LLC, a portfolio company of Tinicum Capital Partners, a provider of innovative, highly engineered hardware and fastener solutions for demanding aerospace applications worldwide. The transaction was valued at $1.5 billion.

TriMas Corporation has agreed to acquire RSA Engineered Products, a portfolio company of Merit Capital Partners and Cornerstone Capital Holdings, a provider of complex, highly engineered, and proprietary air ducting products, connectors, and related components for air management systems used in aerospace and defense applications. Terms of the transaction were not disclosed.

Zentech Manufacturing, Inc., a portfolio company of BlackBern Partners, LLC, has acquired Trilogy Circuits, LLC, a provider of high-technology electronics manufacturing services supporting prime contractors serving the defense sector and other high-reliability industries. Terms of the transaction were not disclosed.

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KippsDeSanto & Co. Industry Week in Review – November 15, 2019

Industry Week in Review – November 15, 2019

M&A Transactions

 Apollo Global Management has agreed to acquire Tech Data Corporation, a provider of endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. The transaction was valued at $5.6 billion.

 Bromford Industries, Ltd, a portfolio company of Liberty Hall Capital Partners, has acquired Numet Machining Techniques, a provider of precision machined parts, kits, and assemblies for jet turbine engines for a wide variety of commercial and military aircraft. Terms of the transaction were not disclosed.

 Hui Huliau has acquired LNO, Inc., a provider of IT / communications training and development; cyber security operations; information assurance and network engineering; new equipment fielding and training; systems engineering, testing, and integration; logistics support and analysis; and C4IS. Terms of the transaction were not disclosed.

Kaho Partners has acquired North American Manufacturing Corp., a provider of rugged field equipment to all branches of the United States armed forces and other government agencies. Terms of the transaction were not disclosed.

Leonardo S.p.A has acquired a partial stake in Skydweller Aero, Inc., a provider of a new generation of large-scale solar-powered unmanned air systems, capable of perpetual flight with heavy payloads. Terms of the transaction were not disclosed.

Williams Aerospace and Manufacturing, Inc., a subsidiary of Kellstrom Defense Aerospace, Inc., a portfolio company of Dubin Clark & Co., Inc., has acquired Aerospace Welding, Inc., a provider of precision wielding processes that include spot seam, stud, and flash welding services for the aerospace and defense markets. Terms of the transaction were not disclosed.

Capital Raise Transactions

Advance has acquired a minority stake in HawkEye 360, Inc. previously owned by Allied Minds, Inc. In addition, Advance committed to investing $15 million into HawkEye 360’s previously announced Series B funding. HawkEye 360 is a provider of data processing, data fusion, and commercial radio frequency data analytics.

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KippsDeSanto & Co. Industry Week in Review – November 1, 2019

Industry Week in Review – November 1, 2019

M&A Transactions

AML Oceanographic Ltd. has acquired KM Contros GmbH, a subsidiary of Kongsberg Maritime AS, a provider of sensors that measure dissolved gases in water and platforms and deployment systems for in-situ oceanographic measurement. Terms of the transaction were not disclosed.

BEI Precision Systems & Space Company, Inc., a portfolio company of J.F. Lehman & Co., has acquired Wenzel Associates, Inc., a provider of crystal oscillators, fixed frequency systems, integrated microwave assemblies, and synthesizers for military, space, and commercial markets. Terms of the transaction were not disclosed.

CACI International, Inc. has announced the acquisition of three companies in October for an aggregate purchase price of approximately $105M:

• Deep3 Software Limited, a provider of application development, data analytics, digital transformation, and cyber security supporting the U.K. National Security and Defense. Terms of the transaction were not disclosed
• Linndustries Shielding Specialties, a provider of hardened systems to protect from high altitude electromagnetic pulses and other electromagnetic interference. Terms of the transaction were not disclosed
• Next Century Corporation, a provider of advanced geospatial mapping, predictive analytics, data fusion, and machine learning to the intelligence community and DoD. Terms of the transaction were not disclosed

Carlisle Companies, Inc. has agreed to acquire Draka Fileca SAS, a subsidiary of Prysmian S.p.A., a provider of highly-engineered interconnect solutions for harsh environments, providing high-end cable solutions to important European aerospace, space, and defense customers. The deal is worth an estimated $81.4 million.

DART Aerospace, a portfolio company of Greenbriar Equity Group, L.P. and First Aviation Services Inc., has acquired the brand trademark and product lines of Aero Design Ltd, a provider of aerial cargo expansion products, including helicopter baskets, steps, bearpaws, and bicycle racks for a wide range of OEMs. Terms of the transaction were not disclosed.

Gores Holdings III, Inc., a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, has agreed to acquire Pacific Architects and Engineers Inc. (PAE), a portfolio company of Platinum Equity, LLC, a provider of mission-critical services to the U.S. government, armed forces, and international customers, including the U.S. Department of State, Army, Navy, Air Force, and NASA. PAE will be listed as a public company upon closing with an anticipated initial enterprise value of approximately $1.55 billion.

Mu-Del Electronics, LLC, a subsidiary of Ironwave Technologies, LLC, has acquired American Microwave Corporation, a provider of DC to 40 GHz solid state control components and subsystems for the communication and electronic warfare community. Terms of the transaction were not disclosed.

Tech Data Corporation has agreed to acquire DLT Solutions, Inc., a provider of application lifecycle, business applications, cloud, cybersecurity, digital design, IT consolidation, and IT management solutions, as well as big data, analytics, and data science solutions to federal, state, and local governments. Terms of the transaction were not disclosed.

Tyler Technologies, Inc. has acquired Courthouse Technologies, a provider of jury management software-as-a-service to courts of all sizes in the United States and Canada. Terms of the transaction were not disclosed.

Voyager Space Holdings, Inc. has agreed to acquire Altius Space Machines, Inc., a provider of on-orbit assembly and manufacturing, orbital rendezvous, and capture robotics, as well as satellite servicing. Terms of the transaction were not disclosed.

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KippsDeSanto & Co. Industry Week in Review – October 11, 2019

Industry Week in Review – October 11, 2019

M&A Transactions

Astronics Corporation has acquired Diagnosys Test Systems Limited, a provider of testing, support, and repair of high-value electronics, electro-mechanical, pneumatic, and printed circuit boards in the global mass transit and defense markets. The transaction was valued at $7.0 million.

DC Capital Partners, LLC has acquired Tresys Technology Holdings, Inc., a provider of cyber security products, services and solutions for government and critical infrastructure applications, specializing in highly sensitive and classified environments. The terms of the deal, which closed in August, were not disclosed.

Dedrone Holdings, Inc. has acquired the assets and intellectual property associated with the DroneDefender program of Battelle Memorial Institute, a provider of counter-sUAS technology solutions for end-to-end sUAS threat detection and mitigation solutions for the U.S. federal departments and agencies including the DoD. Terms of the transaction were not disclosed.

Ducommun, Inc. has acquired Nobles Worldwide, Inc., a portfolio company of Levine Leichtman Capital Partners, a provider of ammunition handling systems to key aircraft, naval, and ground-vehicle platforms for the U.S. armed forces and its allies. The transaction was valued at $77 million.

Hensoldt Holding GmbH, a portfolio company of KKR & Co. L.P. has acquired IE Asia-Pacific Pty Ltd, a subsidiary of Intersoft Electronics BVBA, a provider of radar solutions and services to the Australian Defense Force and other agencies, specializing in radar support, testing, training, and installation services. Terms of the transaction were not disclosed.

Qorvo, Inc. has acquired Cavendish Kinetics, Inc., a provider of high-performance RF MEMS technology for antenna tuning applications. Terms of the transaction were not disclosed.

TECT Aerospace, Inc., a portfolio company of Stony Point Group, has agreed to acquire assembly operations of Triumph Group, Inc. based in Nashville, TN, a provider of long and large machining, processing, and large-scale assembly. Terms of the transaction were not disclosed.

Capital Raising Transactions

RapidSOS, Inc., a New York-based emergency technology company, announced the closing of a $55M Series B funding round led by Energy Impact Partners (“EIP”). RapidSOS currently connects more than 250 million Americans directly to 3,500+ local 911 and first responder agencies – transmitting real-time health and medical information, vehicle telematics, multimedia, building sensor data, and more in an emergency.

SparkCognition Inc., a global artificial intelligence (“AI”) leader that builds AI technology to advance the most important interests of society, announced the closing of its Series C funding of $100 million led by March Capital Partners. Other investors include companies across multiple industries, including Boeing HorizonX, Hitachi High-Technologies, Hearst Ventures, and many others.

Satelles Inc., a Reston, Va.-based provider of satellite-based time and location services, has announced raising $26 million in Series C funding. C5 Capital led the round and was joined by Iridium Communications and existing investors.

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KippsDeSanto & Co. Industry Week in Review – September 27, 2019

Industry Week in Review – September 27, 2019

Transactions

By Light Professional IT Services, Inc., a portfolio company of Sagewind Capital, LLC, has agreed to acquire Cole Engineering Services Inc., a provider of simulation-based training, gaming, support, and technical solutions. Terms of the transaction were not disclosed.

Centauri Corporation has acquired Kord Technologies, Inc., a provider of engineering, information technology, and programmatic support services to defense and civilian agencies. Terms of the transaction were not disclosed.

Commercial Vehicle Group, Inc. has acquired First Source Electronics, LLC, a provider of manufacturing solutions for end-products that are often deployed in extreme environments and have a high cost of failure, such as high-performance assemblies for tactical military communications, industrial material handling systems, and electronic braking systems for railway trains. The transaction was valued at an estimated $34 million.

EnerSys Inc. has acquired Northstar Battery Company, LLC, a provider of battery technology and energy storage solutions with its major operations, consisting of two production facilities, located in Springfield Missouri. The transaction was valued at an estimated $182.5 million.

Greenbriar Equity Group, L.P., has acquired Arotech Corp., a provider of training and simulation for air warfare, vehicles, and use-of force. They also provide maintenance services in connection with these systems. The transaction was valued at an estimated $80.8 million.

Jet Support Services, Inc. has acquired Tracware, Ltd., a provider of maintenance and business process control SaaS and related systems integration services for the aviation sector globally. Terms of the transaction were not disclosed.

Montagu Private Equity, LLP has agreed to acquire Jane’s Information Group, a subsidiary of IHS Markit, Ltd., and a provider of online subscription-based open source business intelligence data analysis reports for businesses in the aerospace, defense, and security industries. The transaction was valued at an estimated $470 million.

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