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Industry Week in Review – January 5, 2024

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KippsDeSanto & Co. Industry Week in Review – January 5, 2024

Industry Week in Review – January 5, 2024

M&A Transactions

An Undisclosed U.S.-based Non-Strategic Buyer has agreed to acquire the Precision Sport segment (Sierra Bullets and Barnes Bullets) of Clarus Corporation (NASDAQ: CLAR), a provider of outdoor equipment and lifestyle products focused on the sports market including a wide range of bullets, bullet jackets, and lead free bullets for premium hunting, tactical ammunition, precision target shooting, and defense purposes while serving sport shooting enthusiasts as well as law and military enforcement professionals. The transaction is valued at $175 million.

Cadence Aerospace, a portfolio company of Arlington Capital Partners, has acquired AeroCision, LLC and Numet Machining Techniques, LLC, portfolio companies of Liberty Hall Capital Partners, and Walbar Engine Components, a portfolio company of Cornerstone Capital Holdings, providers of specialized machining capabilities including milling, broaching, turning, grinding, balance, electrical discharge machining, heat treatment, non-destructive testing, engineering software solutions, and inspection capabilities. Terms of the transaction were not disclosed.

Fairbanks Morse Defense, a portfolio company of Arcline Investment Management, has acquired Samtan Engineering Corp., a provider of single-source metal stamping and deep drawing with capabilities including shearing, punching, forming, metal spinning, machining, wire electric discharge manufacturing, and assembly for private sector and U.S. federal government defense markets. Terms of the transaction were not disclosed.

Global Warming Solutions Inc. has acquired AQST USA LLC, a provider of innovative research, manufacturing, and development for satellites, space components, planetary rovers, space robotics, and advanced zero carbon emission technologies specializing in space systems, advanced technologies, and clean energy solutions catering to both terrestrial and space applications for U.S. federal government aerospace and defense markets. Terms of the transaction were not disclosed.

Management Science and Innovation, LLC has acquired Ascolta, LLC, a subsidiary of ViON Corp., and provider of customized analytics solutions to support data warehouse augmentation, operational analysis, security and intelligence and cyber operations for private sector and U.S. federal government markets. Terms of the transaction were not disclosed.

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Industry Week in Review – December 29, 2023

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KippsDeSanto & Co. Industry Week in Review – December 29, 2023

Industry Week in Review – December 29, 2023

M&A Transactions

CM Equity Partners has made an investment in Dexis Consulting Group, a provider of program design and delivery of foreign assistance programs for the public sector. Terms of the transaction were not disclosed.

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Industry Week in Review – December 22, 2023

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KippsDeSanto & Co. Industry Week in Review – December 22, 2023

Industry Week in Review – December 22, 2023

M&A Transactions

AAR Corp. (NYSE: AIR) has agreed to acquire the Product Support Business of Triumph Group (NYSE: TGI), a provider of specialized maintenance, repair, and overhaul capabilities for critical aircraft components including structural components, engine and airframe accessories, interior refurbishment, wheels and brakes, and proprietary designated engineering representative and parts manufacturer approval parts for commercial and defense customers. The transaction is valued at $725 million.

Colt CZ Group SE (SEP: CZG) has acquired Sellier & Bellot A.S., a subsidiary of Companhia Brasileira de Cartuchos (“CBC”) S.A., and provider of small caliber (i.e., pistol, rifle, and shotgun) ammunition to private sector and international government defense markets. Terms of the transaction were not disclosed.

Comitans Capital AG has agreed to acquire the Small-Bore Pistons Unit of Rheinmetall AG (XTRA: RHM), a provider of small-bore pistons used primarily in internal combustion engines with a focus on near-adjacent applicability to next generation alternative drive systems and hydrogen technologies across military, civil, and commercial platforms. Terms of the transaction were not disclosed.

Diehl Defence, a subsidiary of Diehl Stiftung & Co. KG, has agreed to acquire The Allweier Group, a provider of high-precision metal parts with core competencies in CNC turning, milling, grinding, orbital sanding, and assembly of components and subassemblies for private sector and international government manufacturing and propulsion markets. Terms of the transaction were not disclosed.

Enlightenment Capital has made an investment in Ridgeline International Inc., a provider of intelligence and cybersecurity software solutions that protect data against ubiquitous technical intelligence to the defense and intelligence community. Terms of the transaction were not disclosed.

HawkEye 360 Inc. has acquired the RF Solutions business of Maxar Intelligence, a subsidiary of Maxar Technologies Ltd., a portfolio company of Advent International Corp. and provider of secure, precise, space-based RF geospatial solutions and analysis on the spectrum and various wireless networks (i.e., 2 existing RF satellites, RF scanning IP, and a multi-year global database rich in RF collections ranging from 1.4GHz to 40 GHz) enabling government intelligence customers to use wireless technologies for deployments, global connectivity, and active frequency mapping. Terms of the transaction were not disclosed.

Luna Innovations Inc. (NASDAQ: LUNA) has acquired Silixa Ltd., a provider of distributed fiber optic sensing solutions with core capabilities in distributed acousting sensing, distributed temperature sensing, and distributed strain sensing that offer enhanced performance for applications in private sector, U.S. federal, and international government defense, energy, and mining markets. The transaction is valued at $38 million.

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Industry Week in Review – December 15, 2023

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KippsDeSanto & Co. Industry Week in Review – December 15, 2023

Industry Week in Review – December 15, 2023

M&A Transactions

LIG Nex1 (KRX: 079550) and Korea Investment Private Equity have agreed to acquire a 60% equity stake in Ghost Robotics, a provider of advanced unmanned quadruped vehicles outfitted with sensors, mesh communications, and manipulators enabling data collection, intelligence, security, asset protection, and military-specific uses where operating conditions are difficult for human engagement primarily for commercial and military partners. The 60% equity stake is valued at $239 million.

Lynx Software Technologies, Inc. has acquired Timesys Corp., a provider of development tools, cybersecurity solutions, and differentiated software engineering services for open-source embedded and edge software applications for private sector and U.S. federal government aerospace, defense, industrial, medical, and enterprise end-markets. Terms of the transaction were not disclosed.

Nokia Oyj (HLSE: NOKIA) has agreed to acquire Fenix Group, a portfolio company of Enlightenment Capital, and a provider of tactical 3rd Generation Partnership Project communications solutions and innovative tactical communications products, including the Banshee product family, that are designed to provide high-speed, low-latency data connections to many devices and users simultaneously. Terms of the transaction were not disclosed.

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Industry Week in Review – December 8, 2023

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KippsDeSanto & Co. Industry Week in Review – December 8, 2023

Industry Week in Review – December 8, 2023

M&A Transactions

Acclaim Technical Services, LLC (“ATS”) has acquired Alder Technology, Inc., a provider of high-end network engineering, network security, and data management services and solutions supporting the national security mission. Terms of the transaction were not disclosed.

Capitol Meridian Partners (“CMP”) has acquired Clarity Innovations LLC., a provider of advanced data and cyber analytics services and software to private sector and U.S. federal government aerospace, defense, and national security markets. Terms of the transaction were not disclosed.

Fincantieri S.p.A. (BIT: FCT) has agreed to acquire Remazel Engineering S.p.A, a subsidiary of Advanced Technology Industrial Group S.A., a provider of highly customized and complex topside equipment with a particular focus on the design and supply of highly complex systems for handling, lifting and anchoring in addition to other launch and recovery solutions for underwater vessels, and critical gas turbine components for the broader offshore market. The transaction is valued at $84.8 million.

H.I.G. Capital has acquired Mainline Information Systems, Inc., a provider of diversified IT solutions serving the infrastructure needs of blue-chip enterprises and the public sector. Terms of the transaction were not disclosed.

Irys Technologies, Inc. has acquired  Diversified Technical Services, Inc. (“DTSI”), a provider of software development, cybersecurity, and IT services for defense and government sectors. Terms of the transaction were not disclosed

Thrust Capital Partners has acquired DCM Group, a provider of aerospace components, ground support equipment tooling, aircraft maintenance and welding services for aircraft manufacturers, equipment suppliers, aircraft maintenance centers, and airlines operating in the aviation and aerospace markets. Terms of the transaction were not disclosed.

Yulista Holding, LLC, a subsidiary of Calista Corp. has acquired DSoft Technology, Engineering & Analysis, Inc., a provider of technology, engineering, and analysis consulting services and solutions for a broad range of clients in the Department of Defense, Civil, and Commercial sectors. Terms of the transaction were not disclosed.

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Industry Week in Review – December 1, 2023

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KippsDeSanto & Co. Industry Week in Review – December 1, 2023

Industry Week in Review – December 1, 2023

M&A Transactions

Arcfield, a portfolio company of Veritas Capital, has acquired Orion Space Solutions, a provider of next-generation space technologies, space exploration and hypersonic detection and tracking capabilities for agencies in the DoD and Intelligence Community with expertise in sensor and payload design; spacecraft integration and manufacturing; space mission operations and data analysis; and the design, integration, and assembly of smallsats and cubesats for atmospheric science, space exploration and research end uses. Terms of the transaction were not disclosed.

BlueHalo, a portfolio company of Arlington Capital Partners, has acquired Ipsolon Research, a provider of high-performance, defense-grade, ultra-small form factor software defined radios (“SDRs”) across a broad portfolio of customers throughout the DoD, U.S. Navy, and USAF. Ipsolon Research’s Cerberus and Chameleon SDRs provide leading processing functionalities and multi-antenna capabilities in small form factors for use in mission-critical spaces constrained by harsh environments. Terms of the transaction were not disclosed.

LFM Capital has made a strategic investment in SisTech Manufacturing, a provider of printed circuit board assemblies (“PCBA”) specializing in turnkey assembly of high-complexity boards inclusive of complete mechanical design services, design review, 2D / 3D modeling, and PCB layout services to ensure cost effective designs for defense, aerospace, industrial, and consumer applications. Terms of the transaction were not disclosed.

Madison Dearborn Partners, LLC has acquired privately held T2S, LLC., a provider of rapid prototyping, experimentation, systems development, integration, and test and sustainment services for private sector and U.S. federal government civilian, defense, and intelligence markets. Terms of the transaction were not disclosed.

The Jordan Company has agreed to acquire the Commercial Aviation Solutions business of L3Harris (NYSE: LHX), a provider of integrated and global commercial aviation solutions including pilot training, avionics, advanced air mobility, training technology, flight data analytics, integrated mission systems, and commercial training solutions to individuals and businesses in the commercial aviation market. The transaction is valued at $800 million.

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Industry Week in Review – November 24, 2023

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KippsDeSanto & Co. Industry Week in Review – November 24, 2023

Industry Week in Review – November 24, 2023

M&A Transactions

Amentum Holdings, LLC, a portfolio company of American Securities, LLC and Lindsay Goldberg, LLC, has agreed to merge with the Critical Mission Solutions (“CMS”) business of Jacobs Solutions Inc. (NYSE: J), a provider of a full spectrum of cybersecurity, data analytics, software application development, enterprise and mission IT, systems integration and other highly technical consulting solutions to government agencies as well as selective aerospace, automotive, and telecom customers. Jacobs is expected to receive cash proceeds of $1 billion at close, subject to customary adjustments.

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Industry Week in Review – November 17, 2023

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KippsDeSanto & Co. Industry Week in Review – November 3, 2023

Industry Week in Review – November 17, 2023

M&A Transactions

SMX, a portfolio company of OceanSound Partners, LP., has acquired Outside Analytics, Inc., a provider of remote sensing, real-time processing, and analytics systems across the private and U.S. federal government aerospace industries. KippsDeSanto & Co. acted as the financial advisor to Outside Analytics, Inc. Terms of the transaction were not disclosed.

Washington Harbour Partners has acquired SIXGEN, Inc., a portfolio company of Chart National L.P., and provider of unified cyber solutions spanning vulnerability research, threat hunting, machine learning and data science, incident response, and cyber network operations. KippsDeSanto & Co. acted as the financial advisor to SIXGEN, Inc. Terms of the transaction were not disclosed.

C3 Integrated Solutions Inc. has acquired Ingalls Information Security LLC, a provider of technology-enabled, integrated cybersecurity risk management services for private sector and U.S. federal government aerospace and defense markets. Terms of the transaction were not disclosed.

Graham Corporation (NYSE: GHM) has acquired P3 Technologies, LLC, a provider of turbomachinery engineering, product development, and manufacturing solutions with core competencies in the development of rotating machinery including pumps, compressors, and turbines for specialty applications in high-speed rotors and cryogenic pumps for the space, new energy, and medical markets. Terms of the transaction were not disclosed.

Telespazio UK, a subsidiary of Telespazio, a joint venture between Leonardo (BIT: LDO) and Thales (ENXTPA: HO), has acquired e2E Group, a provider of independent space systems engineering and consulting services ranging from developing software for satellite operations; integrating and testing new space systems; assuring communication services; developing system architectures and proof-of-concept demonstrations spanning SDR, SoC, RF, and free space for various civil, military, and commercial end customers. Terms of the transaction were not disclosed.

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Industry Week in Review – November 3, 2023

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KippsDeSanto & Co. Industry Week in Review – November 3, 2023

Industry Week in Review – November 3, 2023

M&A Transactions

Summit 7, a portfolio company of WestView Capital, has acquired CSW Systems, a provider of managed services and continuous compliance support for classified data processing facilities with expertise in cybersecurity solutions tailored for clients within the intelligence community (“IC”). KippsDeSanto & Co. acted as financial advisor to CSW Systems. Terms of the transaction were not disclosed. 
 
AMETEK, Inc. (NYSE: AME) has acquired Amplifier Research Corp., a provider of radio frequency (“RF”), microwave amplifiers, and electromagnetic compatibility testing equipment with specialties in RF and microwave instrumentation, hybrid power amplifier modules, antennas, and related control software for the defense, communications, medical, and automotive markets. Terms of the transaction were not disclosed.
 
Eqlipse Technologies, a portfolio company of Arlington Capital Partners, has agreed to acquire SR Technologies, a provider of signals intelligence and electronic warfare technologies including custom-designed tactical solutions across mobile satellite communications, Wi-Fi, and Bluetooth signals of interest to support the most demanding Department of Defense (“DoD”), IC, U.S. Federal Law Enforcement, and U.S. Allied missions in the harshest environments globally. Terms of the transaction were not disclosed.
 
IDEX Corp. (NYSE: IEX) has agreed to acquire Superior Technical Ceramics Corp., a portfolio company of Artemis Capital Partners and provider of technical ceramic solutions and components including specialized engine, exhaust, and propulsion; electrical; structural; optical; analytical instrumentation; guidance and navigation; sensor; and customized components to private sector and U.S. federal government aerospace, defense, semiconductor, and related industrial markets. The transaction is valued at $210 million.
 
Tyler Technologies (NYSE: TYL) has acquired ResourceX, Inc., a provider of priority-based budgeting software and IT staffing solutions for the public sector, leveraging machine learning and artificial intelligence (“AI”) to predict and identify opportunities. Terms of the transaction were not disclosed. 

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Industry Week in Review – October 27, 2023

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KippsDeSanto & Co. Industry Week in Review – October 27, 2023

Industry Week in Review – October 27, 2023

M&A Transactions

An Undisclosed Buyer has agreed to acquire the Cybersecurity, Intelligence, and Services Business of RTX (NYSE: RTX), a provider of intelligence services and cybersecurity solutions to enable special intelligence missions, software modernization, and offensive cyber that informs defensive cyber solutions in support of the U.S. IC, homeland defense, and homeland security. The transaction is valued at $1.3 billion.

Fairbanks Morse Defense, a portfolio company of Arcline Investment Management, has acquired the American Fan business of Chart Industries (NYSE: GTLS), a provider of high-performance axial and centrifugal aluminum and composite fans for enduring U.S. Navy, Military Sealift Command, and U.S. Coast Guard platforms and specialty industrial applications. The transaction is valued at $111 million.

Madison Industries has agreed to acquire CAE Healthcare, a subsidiary of CAE, Inc., and provider of educational tools and simulation solutions, including patient, interventional and imaging simulation, audiovisual solutions, and learning applications. The transaction is valued at $226 million.

uAvionix, a portfolio company of DC Capital Partners, has acquired Iris Automation, Inc., a provider of detect and avoid technology for manned and autonomous, airborne and ground-based, optical systems with capabilities in avionics, aviation data, and safety solutions supporting fully integrated airspace for private sector and U.S. federal government aerospace, defense, and homeland security markets. Terms of the transaction were not disclosed.

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