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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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Industry Week in Review – October 20, 2023

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KippsDeSanto & Co. Industry Week in Review – October 20, 2023

Industry Week in Review – October 20, 2023

M&A Transactions

22nd Century Technologies Inc. has acquired Queues Enforth Development, Inc. a provider of multi-jurisdictional and multi-agency dispatch system supporting next generation 911 interface solutions, high precision GIS mapping, and mobile user access for local, state, and federal law enforcement agencies.

Arcline Investment Management has agreed to acquire Hartzell Aviation, a subsidiary of Tailwind Technologies a provider of proprietary aircraft subsystems and aftermarket components including propeller systems, components, aircraft engine accessories, and specialized parts such as turbochargers, alternators, starters, magnetos, and engine mounts. Terms of the transaction were not disclosed.

CenterGate Capital has acquired Cartridge Technologies, LLC, a portfolio company of Broadtree Partners a provider of managed print services and tech-enabled customized solutions to prominent U.S. government agencies, including the Department of Defense, Department of Homeland Security, and Department of Health & Human Services. Terms of the transaction were not disclosed.

Heads Up Technologies, a portfolio company of JLL Partners, has acquired Alto Aviation, a provider of premium cabin audio and related cabin control solutions and systems for business jet aircraft manufacturers and aftermarket providers. Terms of the transaction were not disclosed.

Integrity Partners Group, a portfolio company of OpenGate Capital, has acquired the Military and Aerospace Business of West Penetone, a provider of specialty cleaners and degreasers used to remove soils and deposits on painted and unpainted surfaces, windows, plastics, composites, and engine of helicopters, gunships, jets, and other air transports. Terms of the transaction were not disclosed.

ITP Aero, a portfolio company of Bain Capital, LLC, has agreed to acquire BP Aero Services, LLC, a provider of aircraft engine aftermarket services including engine component repairs, hospital shop visits, engine teardowns, and field service to private sector and U.S. federal government aerospace markets. Terms of the transaction were not disclosed.

MindPetal Software Solutions, Inc. has announced its acquisition of Vertical Applications, Inc., a provider of intelligent automation, software development, and data services to private sector and U.S. federal government defense, healthcare, and homeland security markets. Terms of the transaction were not disclosed.

The Edgewater Funds, Banbury Private Capital, HF Capital, and Killick Capital have acquired Turbine Engine Specialists, a provider of aftermarket inventory-supported maintenance, repair, overhaul, rental, and distribution services to the global private aviation market. Terms of the transaction were not disclosed.

Universal Technical Resource Services, Inc. has acquired Gaum, Inc., a provider of custom manufactured large parts, complex precision parts, and machine components used in various private sector and U.S. federal government defense markets. Terms of the transaction were not disclosed.

West Star Aviation, a portfolio company of The Sterling Group, has agreed to acquire Jet East, a subsidiary of Gama Aviation (LON: GMAA) a provider of maintenance, repair, and overhaul services for unscheduled events, avionics, on-demand mobile maintenance, and related services covering structural repairs, composite work, non-destructive testing, and paint capabilities for the business jet and commercial aviation markets. The transaction is valued at $131 million.

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Industry Week in Review – October 13, 2023

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KippsDeSanto & Co. Industry Week in Review – October 13, 2023

Industry Week in Review – October 13, 2023

M&A Transactions

Bodycote Plc (LSE: BOY), has agreed to acquire Lake City Heat Treating Corp. and Stack Metallurgical Group, Inc., providers of hot isostatic pressing (“HIP”) and vacuum heat treatment solutions across three HIP and three heat treatment domestic facilities primarily to civil aerospace and medical end markets. The transaction is valued at $145 million.
 
Bridge Core Federal has acquired teKnoluxion Consulting, a provider of software & systems engineering, cloud services, and data analytics solutions to the defense and intelligence communities. Terms of the transaction were not disclosed.
 
SMX has acquired Creoal Consulting, a provider of general fund revenue recovery services for cities and counties focused on assisting local governments with collecting funds they are owed for permits, license fees, and taxes for sales and use, property, utility and franchise, and hotel and short-term rentals through the use of Avenu’s software. Terms of the transaction were not disclosed.
 
Stellant Systems, a portfolio company of Arlington Capital Partners, has agreed to acquire Comtech Power Systems Technology, a subsidiary of Comtech Telecommunications Corp (NASDAQ: CMTL) and provider of differentiated power amplification products including vacuum tube and Gallium Nitride-based solid state solutions primarily for military applications. The transaction is valued at $40 million.

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Industry Week in Review – October 6, 2023

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KippsDeSanto & Co. Industry Week in Review – October 6, 2023

Industry Week in Review – October 6, 2023

M&A Transactions

Butler National Corp. (OTCQB: BUKS) has acquired KC Machine, LLC, a provider of high-quality precision machined parts, machine service, repairs, and extensive fabrication capabilities serving a variety of industrial and manufacturing businesses including products for the Department of Defense. Terms of the transaction were not disclosed.

Cyberlux Corporation (OTC: CYBL) has acquired Datron World Communications, Inc., a provider of tactical communications products and systems enabling the establishment and maintenance of mission-critical voice, data, and video connectivity for governments, security forces, and commercial users deployed in over 80 countries worldwide. Terms of the transaction were not disclosed.

EDGE Group PJSC has acquired SIATT, Ltd., a provider of integrated, intelligent weapons systems with high technological content including missiles and guided munitions for installation onto aircraft, naval vessels, tanks, and other land vehicles as well as select radar, sensor, and avionics systems technologies. Terms of the transaction were not disclosed.

Fvlcrum Funds has acquired Advanced IT  Concepts, Inc., a provider of systems integration, IT Infrastructure, cybersecurity, live training, medical simulation, and military intelligence solutions to private sector and U.S. federal government defense markets. Terms of the transaction were not disclosed.

GoEngineer, LLC, a portfolio company of Court Square Capital Partners, has acquired Rapid PSI, a provider of 3D-printed, aerospace additive parts with capabilities including prototyping, production-grade manufacturing, and customized solutions for ITAR-compliant private sector and U.S. federal government aerospace markets. Terms of the transaction were not disclosed.  

Kyocera Corp. (TSE: 6971.T) has acquired Bliley Technologies, Inc., a provider of low-noise frequency control products and Low Earth Orbit and geostationary equatorial orbit applications and is one of the only U.S.-based companies to manufacture both crystal and oscillator products from front end to final finishing within the same facility. Terms of the transaction were not disclosed.

Loch Technologies has acquired Avirtek Inc., a provider of professional and cyber security solutions for private sector and U.S. federal government defense markets. Terms of the transaction were not disclosed.

Safran S.A. (ENTXPA: SAF), has acquired the Aeronautical Electrical Systems business of Thales (ENTXPA: HO), a provider of safe power generation and management, electric conversion and optimization, and motors enabling effective aircraft oversight for civil and military aircraft. Terms of the transaction were not disclosed.

Trexon, a portfolio company of Audax Private Equity, has acquired C.E. Precision Assemblies, Inc., a provider of radio frequency / microwave build-to-print flexible and semi-rigid cable assemblies and simple, complex, molded, and braided wire harnesses for military and aerospace applications. Terms of the transaction were not disclosed.

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Industry Week in Review – September 29, 2023

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

Industry Week in Review – September 29, 2023

M&A Transactions

Allient, Inc. (NASDAQ: ALNT) has acquired Sierramotion, Inc., a provider of turn-key motion components and mechatronic solutions with expertise in designing and applying products in electro-mechanical systems for space-bound vehicles, satellite communications, imaging systems, and defense systems in defense, semiconductor, industrial, and other precision applications. Terms of the transaction were not disclosed.

 Arlington Capital Partners has agreed to acquire Exostar, LLC, a provider of cloud-based solutions that offer identity and secure access protection to mitigate risk in highly-regulated industries such as aerospace and defense, life sciences, and healthcare. Terms of the transaction were not disclosed.

 Knowles Corporation (NYSE: KN) has agreed to acquire Cornell Dubilier, a provider of high-quality film, electrolytic, and mica capacitors used in demanding military, aerospace, medtech, and related industrial applications with a broad-based roster of OEM and distribution partners and leading development capabilities in capacitor technologies for over 35,000 customers. The transaction is valued at $263 million.

 Maritime Partners, LLC has acquired U.S. Marine Management, LLC, a subsidiary of Maersk Line, Ltd. and provider of chartered services of U.S. flag tanker and military support vessels to the US Navy’s Military Sealift Command and the operation and maintenance of U.S. Government-owned vessels. Terms of the transaction were not disclosed.

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Industry Week in Review – September 22, 2023

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

Industry Week in Review – September 22, 2023

M&A Transactions

Alvarez & Marsal Capital has acquired a majority ownership equity stake in VTG, a portfolio company of The Jordan Company, L.P., and a provider of force modernization and digital transformation solutions to private sector and U.S. federal government defense and national security markets. Terms of the transaction were not disclosed.

Cadence Design Systems, Inc. (NASDAQ: CDNS) has agreed to acquire Intrinsix Corp., a subsidiary of CEVA, Inc. (NASDAQ: CEVA) and a provider of design engineering solutions for complex system-on-chip (“SoC”) products in advanced nodes RF, mixed-signal, digital, software, secure processors, and interface IP for heterogeneous SoCs (“HSoCs”) focused on the U.S. aerospace & defense industry. Terms of the transaction were not disclosed.

General Atomics Electromagnetic Systems (“GA-EMS”), a division of General Atomics, has acquired EO Vista, LLC, a provider of advanced, next-generation electro-optical sensors and space-based / airborne payloads with proven experience in developing systems supporting intelligence, surveillance, and reconnaissance technologies and enabling new capabilities. Terms of the transaction were not disclosed.

Vislink Technologies, Inc. (NASDAQ: VISL) has acquired Broadcast Microwave Services, LLC, a portfolio company of CapitalView Investment Partners, L.P., and a provider of microwave technology systems offering a complete suite of mission-critical solutions allowing reliable, long-range data transmission in the most demanding environments serving a diverse customer base in government surveillance, law enforcement, uncrewed aerial vehicles, and unmanned ground vehicles markets. Terms of the transaction were not disclosed.

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Industry Week in Review – September 15, 2023

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

Industry Week in Review – September 15, 2023

M&A Transactions

First Advantage Corp. (NasdaqGS: FA) has acquired Infinite ID, a portfolio company of Enlightenment Capital, and a provider of advanced software, data, and integration solutions for complex scenarios where biometric identification and authentication are critical to security in federal, state and local government agencies for validation and background checks. The transaction is valued at $41 million.

Lurie Investments has acquired Knexus Research, a provider of AI / ML-enabled research analytics, systems and software engineering, simulations and tested development, and performance studies for the DoD and other key Defense agencies. Terms of the transaction were not disclosed.

 Mubea has agreed to acquire Cyclone Manufacturing, Inc., a provider of 3-5 axis machining, sheet metal fabrication, tube bending, welding and structural assemblies of aerospace structural components for private sector and international government aerospace markets. Terms of the transaction were not disclosed.

Tuthill Corp. has agreed to acquire EaglePicher Technologies, LLC, a portfolio company of GTCR, LLC, and a provider of mission-critical power systems, batteries, energetic devices, and battery management systems for the defense, aerospace, medical, and related industrial applications. Terms of the transaction were not disclosed.

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Industry Week in Review – September 8, 2023

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

Industry Week in Review – September 8, 2023

M&A Transactions

Ametek (NYSE: AME) has acquired United Electronic Industries, a provider of data acquisition and control solutions specializing in the design and manufacture of high-performance test, measurement, simulation, and control solutions enabling customers to build smart, reliable, flexible, and rugged systems in mission critical applications (e.g., flight simulation, training, machine health, usage monitoring, automated testing) for the aerospace, defense, energy, and semiconductor industries. Terms of the transaction were not disclosed.

Anduril Industries, Inc. has acquired Blue Force Technologies, a provider of high-end composite autonomous aircraft and their components with integrated aerostructures specializing in proprietary rapid prototyping, digital engineering, and open architectures design to deliver next-generation flight performance with the ability to integrate heterogeneous sensors and payloads to support air dominance missions serving a wide range of defense and commercial customers. Terms of the transaction were not disclosed.

Bridge Core Federal, a portfolio company of NewSpring Holdings, has acquired GeoYeti LLC, a provider of advanced analytics, data science, and development services for the Intelligence Community. Terms of the transaction were not disclosed.

Cerberus Capital Management, L.P., has made a strategic investment into Resonant Sciences, a provider of premier payload, survivability, and advanced technology solutions and hardware specializing in advanced apertures; modeling, measurements, and digital engineering; and integrated electronic systems with vertical integration capabilities allowing for the rapid design, built, test, and production of numerous flight operational systems for commercial, civilian, and defense customers across land, sea, air, and space. Terms of the transaction were not disclosed.

Concurrent Technologies PLC (LON: CNC) has acquired Phillips Machine & Welding Co., Inc. (“Phillips Aerospace”), a provider of custom ruggedized avionics systems, off-the-shelf simulation for test tools, and build-to-print fabrication services serving predominantly defense (e.g., Boeing, Northrop Grumman, Raytheon), medical, and related industrial customers. The transaction is valued at $3.4 million.

CoreDux Group, a portfolio company of Arcline Investment Management, has acquired Pyramid Precision Machine, Inc., a provider of high-complexity, close-tolerance, machined precision components and sub-assemblies with specialties in unique metals and materials spanning semiconductor lithography through industrial gas turbine (“IGT”) technologies for the semiconductor, aerospace & defense, and energy transition supply chain. Terms of the transaction were not disclosed.

Loar Group Inc., a portfolio company of Abrams Capital Management, has acquired CAV Systems, a portfolio company of Baird Capital, a provider of airborne ice protection systems and drag reduction technology specialized in the design, consulting, certification, and manufacturing of such systems to general aviation, commercial aerospace, and defense markets worldwide. Terms of the transaction were not disclosed.

Saab AB has acquired CrowdAI Inc., a provider of artificial intelligence-based data science and analytics solutions serving the private sector and the U.S. federal government defense markets. Terms of the transaction were not disclosed.

Systems Planning and Analysis, Inc. (“SPA”), a portfolio company of Arlington Capital Partners, has acquired PRKK, LLC, a provider of rapid warfighter-solutions, system engineering, threat intel analysis, and tailored MS&A solutions for private sector and U.S. federal government aerospace and defense markets. Terms of the transaction were not disclosed.

Universal Technical Resource Services, Inc. (“UTRS”) has acquired Hunter Manufacturing Services, a provider of advanced, high quality, precision machined parts with 15 CNC turning and milling machines enabling capabilities spanning rapid prototyping, design, testing, and machining serving aerospace and defense, and various related industrial applications. Terms of the transaction were not disclosed.

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