Industry Week in Review – August 18, 2023

/in /by

KippsDeSanto & Co. Industry Week in Review – August 18, 2023

Industry Week in Review – August 18, 2023

M&A Transactions

Align Capital Partners has acquired Global Guardian, a provider of an integrated suite of best-in-class security, medical, and travel-related services including personnel tracking, emergency response, security and transportation support, intelligence and due diligence medical support, emergency and custom aviation, cyber security, and video surveillance monitoring that help clients fulfill Duty of Care (“DoC”) obligations and address the risks of traveling and doing business globally. Terms of the transaction were not disclosed.

 BAE Systems (LON: BA) has agreed to acquire the Aerospace Business of Ball Aerospace (NYSE: BALL), a provider of mission critical space systems and defense technologies including specialized instruments, sensors, and spacecraft enabling laser communications systems to link infantry and drones by satellite and satellite tracking systems to monitor space-based threats for defense and civilian applications across air, land, sea, and space domains. The transaction is valued at $5.6 billion.

 Nano Dimension, Ltd. (Nasdaq: NNDM) has acquired Additive Flow, a provider of high-performance and high-quality simulation software for mechanical, thermal, thermo-mechanical properties with frequency and fatigue modeling capabilities across a range of materials and processes for aerospace & defense, semiconductors, advanced optics and optoelectronics, and related industries. Terms of the transaction were not disclosed.

 Pono Capital Three, Inc., a Special Purpose Acquisition Company (NasdaqGM: PTHR), has acquired Horizon Aircraft, a provider of market-leading unique, hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft with patented ducted fan-in-wing technology enabling flight with speed, range, and operational utility and payload capacity than competitors to date with interest in a broad number of mission-specific tasks including military special operations, emergency medical services, aerial firefighting, and disaster relief. The transaction is valued at $96.0 million.

 Thrust Capital Partners (“TCP”) has entered into a strategic partnership with Dishon Limited, a provider of complex machined components and assemblies with a focus on hard metals (esp. titanium and inconel alloys) primarily supporting tier 1 and OEM customers in the aviation, space, and satellite market sectors in Canada, the US, and the UK. Terms of the transaction were not disclosed.

——————————————————————————————————————————-

Click here to review our comparable company analysis.

blog audience image

Industry Week in Review – August 11, 2023

/in /by

KippsDeSanto & Co. Industry Week in Review – August 11, 2023

Industry Week in Review – August 11, 2023

M&A Transactions

Arcfield, a portfolio company of Veritas Capital, has acquired Strategic Technology Consulting, LLC, a provider of full-spectrum model-based systems engineering (“MBSE”) and digital engineering services and solutions for an array of commercial customers, U.S. defense agencies, and defense prime contractors. Terms of the transaction were not disclosed.

Airshare has agreed to acquire the Aircraft Management Business of Wheels Up (NYSE: UP), a provider of on-demand, global private aviation solutions in the U.S. with a diverse fleet offering membership programs, charter, aircraft management services, whole aircraft sales, unique commercial travel benefits and freight, safety and security solutions, and managed services to individuals, industry, government, and civil organizations. Terms of the transaction were not disclosed.

Frontgrade Technologies, a portfolio company of Veritas Capital, has acquired Aethercomm, Inc., a provider of high-power radio frequency (“RF”) solid state power amplifiers (“SSPAs”), high-power RF switches, and transceivers / receivers used in electronic warfare, radar, communications, and space applications supporting mission-critical platforms for marquee customers across the defense and space electronics markets. Terms of the transaction were not disclosed. KippsDeSanto & Co. acted as financial advisor to Aethercomm, Inc.

KKR (NYSE: KKR), in cooperation with the Fuchs family (majority owner of non-floating shares), has agreed to acquire all outstanding, floating shares of OHB SE (XTRA: OHB), a provider of high-tech solutions and satellite systems for earth observation, navigation, telecommunications, science, and reconnaissance to the design and implementation of missions for space exploration and the development of equipment for human space flight. The transaction is valued at $840.7 million.

Photonics Foundries, Inc. has agreed to acquire the Defense Optoelectronics and Broadband Segment Product Lines, excluding Chips, of EMCORE Corp. (NasdaqGM: EMKR), a provider of ruggedized optoelectronic solutions including fiber optic transmitters, amplifiers, lasers and broadband solutions including RF over fiber optic links, passive devices, switching, signal distributions, and various components of integrated circuits that all meet the reliability and durability requirements of the U.S. government, aerospace, defense, and homeland security markets. Terms of the transaction were not disclosed.

Polytech Defense Spares, a portfolio company of PDI Group, has acquired Polytechnic Industries, a provider of fasteners, small gun parts, gears, light assemblies, and other critical spare gun parts as a supplier on the Department of Defense’s coveted Qualified Suppliers List of Manufacturers (“QSLM”) in support of U.S. military operations. Terms of the transaction were not disclosed.

Versar, Inc., a portfolio company of Kingswood Capital Management, has acquired Louis Berger Services (“LBS”), a subsidiary of WSP Global (TSX: WSP), a provider of operation and maintenance (“O&M”) services with expertise in aerial port operations, contingency logistics, ground support services, turnkey power and fueling solutions, heavy vehicle maintenance, and transportation asset maintenance at large, complex mission-essential defense installations and civilian facilities worldwide as a trusted partner to federal government agencies. Terms of the transaction were not disclosed.

——————————————————————————————————————————-

Click here to review our comparable company analysis.

blog lock image

Industry Week in Review – August 4, 2023

/in /by

KippsDeSanto & Co. Industry Week in Review – August 4, 2023

Industry Week in Review – August 4, 2023

M&A Transactions

Arlington Capital Partners has acquired Integrated Data Services, Inc., a provider of software development, technical services, business consulting, financial management, business process management, and reconciliation services support to the Air Force, Army, Space Force and other defense and civilian departments. Terms of the transaction were not disclosed.

 Day & Zimmerman (“D&Z”) has acquired Empire Products, Inc. (“EPI”), a provider of propellant bags and charge bags having produced approximately nine million Modular Artillery Charge System (“MACS”) propellant bags and various tactical equipment in support of many military programs including Sense and Destroy Armor (“SADARM”), Tactical Unmanned Aerial Vehicle (“TUAV”), Badger Foxhole, and Desert Storm. Terms of the transaction were not disclosed.

 ManTech International Corporation, a portfolio company of the Carlyle Group (NASDAQ: CG), has agreed to acquire Definitive Logic, a provider of digital transformation consulting and technology solutions to defense, homeland security, and federal civilian agencies. Terms of the transaction were not disclosed.

Sentar, Inc. has acquired Waterfront Technical Services, LLC, a provider of flight and ground operations, data center operations, information technology (“IT”), software development, and testing solutions supporting NASA’s spaceflight missions. Terms of the transaction were not disclosed.

T-Rex Solutions, LLC has acquired Cyber Cloud Technologies, LLC, a provider of enterprise IT services to the federal government, including cybersecurity and cloud services. Terms of the transaction were not disclosed.

Trexon, a portfolio company of Audax Private Equity, has acquired 603 Manufacturing, a subsidiary of RF Logic, a provider of high-performance wire cable assemblies, radio frequency (“RF”) and microwave coaxial cable assemblies, and various electro-mechanical assemblies with expertise in RF, ruggedized technologies with box builds designed for applications in aerospace & defense, industrials, various high technology markets, and future applications in commercial space including avionics for rocket engines and cutting-edge harnesses for satellites. Terms of the transaction were not disclosed.

——————————————————————————————————————————-

Click here to review our comparable company analysis.

Industry Week in Review – July 28, 2023

/in /by

KippsDeSanto & Co. Industry Week in Review – July 28, 2023

Industry Week in Review – July 28, 2023

M&A Transactions

Ampaire has acquired Talyn Air, a provider of advanced electrical vertical take off and landing (“eVTOL”) technologies in flight with program awards across multiple U.S. Department of Defense (“DoD”) entities with future applicability in unmanned aerial commercial cargo. Terms of the transaction were not disclosed.

Bridger Aerospace (NASDAQ: BAER) has agreed to acquire Bighorn Airways, providing BAER with a fleet of 12 aircraft used for wildfire smoke jumping, special mission transport, and delivery for government customers. The acquisition will expand Bridger’s aerial firefighting services to new mission-critical areas and support the Department of Defense (“DoD”) in year-round logistics operations.The transaction is valued at $39.25 million.

Evantic, a portfolio company of Edgewater Capital Partners, has acquired Plastic Distributors and Fabricators (“PDF”), a provider of high-precision, complex parts with tight tolerances in demanding operating environments for covers, frames, housings, caps, filters, separators, gaskets, rings, wheels, and other structural components in the aerospace, defense, semiconductor, and related industrial markets. Terms of the transaction were not disclosed.

NewSpring Holdings, LLC has acquired Bridge Core, a provider of visual intelligence, cybersecurity, and other technical solutions to the U.S. government intelligence community. Terms of the transaction were not disclosed.

RSC2, Inc has acquired Navigant Systems, a provider of professional services for private sector and U.S. federal government aerospace, defense, and intelligence markets. Terms of the transaction were not disclosed.

Safran SA (ENXTPA: SAF) has agreed to acquire the Actuation and Flight Control Business of Collins Aerospace, a subsidiary of Raytheon Technologies (NYSE: RTX) and provider of high-technology actuation and flight control systems for commercial & military aircraft and helicopters. The transaction is valued at $1.8 billion.

TV Ammo, Inc. (“True Velocity”), formerly known as Breeze Holdings (NASDAQ: BREZ), has acquired Delta  P Design, a provider of innovative, American-made centerfire rifle suppressors and accessories using 3D metal printing technology that enables weapon performance through weight, sound, and flash reduction while maintaining optimal functionality and maneuverability with proven reliability on machine gun platforms for military and commercial applications. Terms of the transaction were not disclosed.

——————————————————————————————————————————-

Click here to review our comparable company analysis.

blog stock image

Industry Week in Review – July 21, 2023

/in /by

KippsDeSanto & Co. Industry Week in Review – July 21, 2023

Industry Week in Review – July 21, 2023

M&A Transactions

Bridgepoint (LSE: BPT) has acquired SK AeroSafety Group, a portfolio company of Levine Leichtman Capital and provider of maintenance, repair, and overhaul (“MRO”) services for aircraft components and related safety and survivability equipment comprised of several renowned business units serving the commercial aviation market globally. Terms of the transaction were not disclosed.

 Gooch & Housego (AIM: GHH) has agreed to acquire Artemis Optical, a provider of thin-film optical filters for tailored electro-optical (“EO”) and laser protection, as well as bespoke head-up display combiners, with expertise in developing customized system-enabling optical filtering, mirror, and window alternatives from 400 nanometer to long wave infrared (“IR”) supporting various applications in aerospace, military and defense, and technology. The transaction is valued at $11.7 million.

 IMB Partners, LLC has acquired eTelligent Group, LLC, a provider of Information Technology (“IT”) modernization, development and operations (“DevOps”), program management, and cyber solutions to the U.S. government. Terms of the transaction were not disclosed.

Lightridge Solutions, a portfolio company of ATL Partners, has acquired Trident Systems, a provider of high-performance, reliable, resilient, and open-architecture space electronics encompassing multi-function, radio-frequency processors, software-defined radios, on-board processors, and data storage solutions for demanding U.S. national security space missions requiring innovative and affordable C4ISR solutions for air, land, and sea domains. Terms of the transaction were not disclosed.

——————————————————————————————————————————-

Click here to review our comparable company analysis.

Industry Week in Review – July 13, 2023

/in /by

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

Industry Week in Review – July 13, 2023

M&A Transactions

Chickasaw Nation Industries has acquired Washington Business Dynamics, LLC, a provider of business optimization services, mission management, and strategic solutions to federal customers in the civilian and defense sectors. Terms of the transaction were not disclosed.

Enlightenment Capital has invested in Red Alpha, a provider of cybersecurity, cloud computing, enterprise, and large-scale distributed / virtual systems administration. Terms of the transaction were not disclosed.

 GEM Manufacturing, a portfolio company of CORE Industrial Partners, has acquired Coining Manufacturing (“Coining”) and Precision Machine Products (“PMP”), a provider of progressive die stamping, screw machining, computer numerical control (“CNC”) machining, and wire electrical discharge machining (“EDM”) manufacturing technologies to produce complex precision components from traditional and exotic metals for aerospace and defense, electronics, semiconductor, medical, and various industrial end users across numerous product types and demanding end-use applications. Terms of the transaction were not disclosed.

Innovative Solutions & Support (NASDAQ: ISSC) has acquired key assets and entered an exclusive license agreement related to several product lines of Honeywell International (NASDAQ: HON), providing ISSC with the right to manufacture, upgrade, and repair certain Inertial, Communication, and Navigation product lines from Honeywell inclusive of existing inventory, test, tooling, and other related equipment to enhance ISSC’s current offerings in the Air Transport, Military, and Business Aviation markets globally. Terms of the transaction were not disclosed.

Israel Aerospace Industries has acquired HELA Systems Private Limited, a provider of full maintenance, repair, and overhaul (“MRO”) product support, testing and technical services inclusive of annual maintenance contracts and supplying spares, with expertise in RF and microwave technologies primarily to Indian defense customers. Terms of the transaction were not disclosed.

Mission1st Group, Inc. has acquired Ardent Management Consulting, a provider of digital transformation, location intelligence, data science, and analytics solutions for the private sector and the U.S. federal government homeland security markets. Terms of the transaction were not disclosed.

RapidFlight has acquired the IP Portfolio of Local Motors, a provider of large format 3D printing and other additive manufacturing (“AM”) technologies with applicability to RapidFlight’s superior-quality unmanned aircraft systems, which surpass industry standards for time-to-market and scalability to bring cutting-edge technologies from the venture funded commercial sector to the national security and Department of Defense (“DoD”) space. Terms of the transaction were not disclosed.

The Swift Group Holdings LLC has acquired OPS Consulting, a provider of highly specialized mission critical technology services and solutions which support the U.S. Intelligence Community (IC) and Department of Defense (DoD). Terms of the transaction were not disclosed.

Thales (EPA: HO) has agreed to acquire Cobham Aerospace Communications, a subsidiary of Cobham Limited, a portfolio company of Advent International, and a provider of airborne avionics systems focused on cockpit communications in satellite communications (“SATCOM”), audio and radio management, antennas, lights, clocks, and man-machine interfaces enabling connectivity, communications, and navigation for the world’s leading manufacturers of commercial and regional aircraft, business jets, general aviation aircraft, military trainer, transport, and fighter aircraft, helicopters, and UAVs. The transaction is valued at $1.1 billion.

TPG (NASDAQ:TPG) has agreed to acquire the Global Government and Critical Infrastructure Business (“G2CI”) of Forcepoint, LLC, a provider of cybersecurity, information operations, and information assurance (“IO / IA”) to protect customers’ critical information and infrastructures from complex threats. The transaction is valued at $2.45 billion.

——————————————————————————————————————————-

Click here to review our comparable company analysis.

Industry Week in Review – July 7, 2023

/in /by

KippsDeSanto & Co. Industry Week in Review – July 7, 2023

Industry Week in Review – July 7, 2023

M&A Transactions

Abracon, a portfolio company of Genstar Capital, has acquired NEL Frequency Controls, a provider of precision timing devices meeting ultra-low phase noise, ultra-low power consumption, and ultra-high frequency requirements in the smallest, most compact form factor on the market. NEL Frequency Controls’ products are used across a broad spectrum of high-tech applications, including radio frequency (“RF”) and microwave, defense, satellite communications (“SATCOM”), metrology, test and measurement, and quantum computing. Terms of the transaction were not disclosed.

 Golden Gate Capital has acquired DMC Power, a portfolio company of Bridgepoint Capital and provider of proprietary, high-quality connection systems for transmission, distribution, and substation applications for mission and life-critical commercial and military aerospace hydraulic systems globally. Terms of the transaction were not disclosed.

 Ideal Electric Company has acquired the Large Motor and Generator Intellectual Property (“IP”) Portfolio of Beloit Power Systems, Colt Industries, and other brands of Louis Allis Company, a provider of specialty electric motors including compressors, lifts, anchors, thrusters, fans, antennas, gun turrets, and auxiliary propulsion units for the U.S. Navy and U.S. Army since 1941. Through the acquired IP, Ideal Electric obtains the right to engineer, design, manufacture, sell, and market all Louis Allis Company Induction motors above 950 horsepower. Terms of the transaction were not disclosed.

——————————————————————————————————————————-

Click here to review our comparable company analysis.

blog hi-rise image

Industry Week in Review – June 30, 2023

/in /by

KippsDeSanto & Co. Industry Week in Review – June 30, 2023

Industry Week in Review – June 30, 2023

M&A Transactions

Anduril Industries has acquired Adranos Energetics, a provider of solid rocket fuel and rocket motors that solve critical challenges in national security and commercial spaceflights. Terms of the transaction were not disclosed.

Prince Industries, a portfolio company of HC Private Investments, has acquired Vulcan Machine, a provider of tight tolerance precision machined parts for aerospace and defense customers. Terms of the transaction were not disclosed.

Click here to review our comparable company analysis.

blog speaker image

Industry Week in Review – June 16, 2023

/in /by

KippsDeSanto & Co. Industry Week in Review – June 16, 2023

Industry Week in Review – June 16, 2023

M&A Transactions

Arcline Investment Management has acquired International Water-Guard (“IWG”), a portfolio company of BASE Equity Partners and provider of factory-installed or retrofitted proprietary potable water systems and components ranging from water treatment units to components such as pumps, on-demand water heaters, tanks, structural details, and complete water systems with control technology. IWG’s products have been factory-installed or retrofitted on over 4,000 businesses and commercial jet aircrafts globally. Terms of the transaction were not disclosed.

 Arlington Capital Partners has acquired Pegasus Steel, a provider of complex fabricated steel structures used for the construction of submarines, aircraft carriers and other naval and industrial systems primarily for the U.S. Navy, particularly the Columbia-class and Virginia-class submarines and the Ford-class aircraft carrier.  Terms of the transaction were not disclosed.  KippsDeSanto & Co. acted as financial advisor to Pegasus Steel.

CDW Corporation (NASDAQ:CDW) has acquired Enquizit, a provider of Amazon Web Services (“AWS”) cloud services that solve customer challenges and deliver meaningful outcomes through innovative technical solutions. Terms of the transaction were not disclosed.

Click here to review our comparable company analysis.

blog stock image

Industry Week in Review – June 9, 2023

/in /by

KippsDeSanto & Co. Industry Week in Review – June 9, 2023

Industry Week in Review – June 9, 2023

M&A Transactions

AE Industrial Partners has acquired Yingling Aviation, a provider of maintenance, repair, and overhaul (“MRO”) and fixed-base operator (“FBO”) services to business aviation and government customers throughout the U.S.  Terms of the transaction were not disclosed.

Bain Capital Special Situations has made an investment in KP Aviation, LLC, a provider of essential, high-quality, mid-life, lower-cost aftermarket assets, materials, and services relative to OEM solutions as the supplier of choice to the fixed-wing aviation marketplace serving more than 4,000 airlines, aircraft maintenance companies, investment and leasing firms, and aviation aftermarket suppliers globally.  Terms of the transaction were not disclosed.

Barnes Group, Inc. (NYSE:B) has acquired MB Aerospace Holdings, a portfolio company of The Blackstone Group and provider of precision aero-engine components including the manufacture of high-value fabricated assemblies and complex machined components, component repair, and vertically integrated special processes for a wide range of applications to over 100 aero-engine platforms directly serving major aero-engine OEMs and Tier 1 suppliers.  The transaction is valued at $740 million.

Firefly Aerospace, a portfolio company of AE Industrial Partners, has acquired Spaceflight, Inc., a provider of flight-proven orbital vehicles enabling payload deliveries, hosting, transfer, and rideshare services with capabilities spanning clean room manufacturing and assembly, environmental testing, and large high bays for concurrent spacecraft production supporting the deployment of over 460 payloads into space.  Terms of the transaction were not disclosed.

Indra (BME:IDR) has agreed to acquire Park Air, a subsidiary of Northrop Grumman (NYSE:NOC) and provider of ground-to-air radio systems and air traffic management (“ATM”) radios throughout the world enabling communication with aircraft during take-off, flight, and landing with two core product lines serving the civil and military sectors with key customers including air navigation service providers, systems integrators, and government military organizations.  Terms of the transaction were not disclosed.

KKR (NYSE:KKR) has agreed to acquire CIRCOR International (NYSE:CIR), a provider of mission-critical flow control products and services for the Industrial and Aerospace & Defense markets serving more than 14,000 customers in approximately 100 countries.  The transaction is valued at $1.6 billion.

York Space Systems, a portfolio company of AE Industrial Partners, has acquired Emergent Space Technologies, a provider of mission software and Guidance, Navigation, and Control (“GN&C”) solutions including 10 proprietary IP-backed flight and ground software products with core competencies in systems engineering; position, navigation, and timing (“PNT”); modeling and simulation; and software architecture, design, development, and test, having delivered solutions to U.S. defense agencies, the Intelligence Community, and NASA for over 20 years.  Terms of the transaction were not disclosed.

Click here to review our comparable company analysis.