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.

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KippsDeSanto & Co. Industry Week in Review – May 26, 2023

Industry Week in Review – May 26, 2023

M&A Transactions

Agile Defense, Inc., a portfolio company of Enlightenment Capital, has acquired XOR Security, LLC, a provider of cybersecurity and platform engineering services which defend critical networks for private sector and U.S. federal government commercial, defense, and homeland security markets. Terms of the transaction were not disclosed.

FR Capital has acquired Fregata Systems, LLC, a provider of innovative networking, data management, and communications technologies solving vital needs of the defense and intelligence communities. Terms of the transaction were not disclosed.

Maury Microwave Corp., a portfolio company of Artemis Capital Partners, has agreed to acquire Wireless Telecom Group (NYSEAM: WTT), a provider of advanced RF and microwave communication technologies including high-performance electronic test equipment, phase noise analysis, and frequency generation products for the aerospace, defense, telecommunications, medical, semiconductor, and related industries. The transaction is valued at $48 million.

NAI Group, LLC, a portfolio company of Pritzker Private Capital, has acquired KSM Electronics, Inc., a provider of custom cable and wire harness assemblies and electromechanical / box builds with consultative manufacturing and production capabilities enabling innovative products and complex solutions to world-class aerospace & defense, communications, energy, and industrial customers globally. Terms of the transaction were not disclosed.

Primat Group, a portfolio company of HCI Equity Partners, has acquired Curtis Metal Finishing Company, a provider of engineered protective coating, pre-treatment, heat treatment, and technical intermediation services for metal fasteners with customers in the aerospace, military, automotive, construction, appliance, and other related sectors. Terms of the transaction were not disclosed.

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KippsDeSanto & Co. Industry Week in Review – May 12, 2023

Industry Week in Review – May 12, 2023

M&A Transactions

Bernhard Capital Partners (“BCP”) has acquired Duotech Services, Inc., a provider of a wide range of repair and remaintenance, remanufacturing, testing, overhaul, and engineering solutions for electronic and electro-mechanical equipment supporting major air and ground-based radar and related systems as well as proprietary radar products and systems globally.  Terms of the transaction were not disclosed.

Bluestone Investment Partners, LLC has acquired Precise Systems, Inc., a provider of information technology (“IT”) services, logistics, and program management solutions to private sector and U.S. federal government, aerospace, and defense markets. Terms of the transaction were not disclosed.

Israel Aerospace Industries Ltd. (“IAI”) has acquired Intracom Defense S.A., a subsidiary of Intracom Technologies SARL and provider of tactical communications, hybrid power systems, security solutions, and customized defense electronics primarily for the Greek military, European defense ministries, and NATO.  The transaction is valued at $72.3 million.

Kymera International, LLC, a portfolio company of Palladium Equity Partners, has acquired Thermal Spray Solutions, Inc., a provider of high-performance thermal spray coatings for corrosion and wear resistance specialized in rotating equipment solutions and on-site metal coating applications to the U.S. Navy, the shipbuilding sector, and key industrial customers throughout the United States.  Terms of the transaction were not disclosed.

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

Industry Week in Review – April 28, 2023

M&A Transactions

ASRC Federal, a subsidiary of Arctic Slope Regional Corp. (“ASRC”), has acquired Broadleaf, Inc., a subsidiary of The Hawaii-Pacific Foundation for Soft Power Solutions, Inc., and provider of cybersecurity, network engineering and cloud migration, as well as professional services including training and program management solutions to private sector and U.S. federal government aerospace, civilians, defense, and homeland security markets. Terms of the transaction were not disclosed.

Charlesbank Capital Partners LLC has acquired Maltego Technologies GmbH, a portfolio company of Maxburg Capital Partners and provider of a graphical link analysis software platform used by investigators for cybersecurity threat intelligence, law enforcement, and trust & safety use cases.  Terms of the transaction were not disclosed.

Chesapeake Technology International Corp. (“CTI”), a portfolio company of Bluestone Investment Partners, LLC, has acquired Rapid Imaging Technologies LLC, a provider of artificial intelligence and augmented reality based software and rapid imaging solutions for private sector and U.S. federal government defense and intelligence markets. Terms of the transaction were not disclosed.

Fastener Distribution Holdings (“FDH Aero”), a portfolio company of Audax Private Equity, has acquired BJG Electronics, a portfolio company of Rockwood Equity Partners and provider of interconnect and electromechanical products (e.g., connectors, backshells, wire & cable products, RF/microwave products) for the defense, commercial aerospace, and space end-markets.  Terms of the transaction were not disclosed.

Megatech A.Q. Inc., a portfolio company of MiddleGround Capital, has acquired Advantage Metal Products, a provider of full-service machining specializing in precision sheet metal fabrication, CNC machining, and other value-added services including assembly, automated powder coating, and batch coating for the aerospace & defense, homeland security, and various other commercial end markets.  Terms of the transaction were not disclosed.

An undisclosed buyer has acquired Avon Machining, a portfolio company of Speyside Equity and provider of large, complex, precision parts such as compression covers, gears, valves, housings, and full assemblies with aluminum, stainless steel, and titanium alloys for heavy industrial OEMs primarily in North America.  Terms of the transaction were not disclosed.

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

Industry Week in Review – April 6, 2023

M&A Transactions

Alpha Safety Holdings, LLC, a portfolio company of Benford Capital Partners, has acquired Pajarito Scientific Corporation, a provider of equipment and services related to nuclear material characterization, radiation safety, modular panel containment systems, specialty ventilation systems, and other highly engineered products and technical services that support critical safety across DoE and commercial nuclear clients. Terms of the transaction were not disclosed.

Audax Private Equity has acquired Krayden, Inc., a portfolio company of Quad-C Management, a provider of adhesives, sealants, solders, coatings, specialty chemicals, and solvents to a variety of industries including electronics, aerospace, transportation, solar, and general industrial OEM and contract manufacturers globally. Terms of the transaction were not disclosed.

BlueHalo, LLC, a portfolio company of Arlington Capital Partners, has acquired Verus Technology Group, Inc., a provider of counter unmanned aircraft systems (“C-UAS”) products and services including SkyView, providing passive RF-based detection, identification, tracking, and telemetry extraction of small UAS servicing the private sector and U.S. federal government defense and civilian markets. Terms of the transaction were not disclosed.

Chugach Government Solutions, LLC, a subsidiary of tribally owned Chugach Alaska Corp. (“CAC”), has acquired Vector Planning & Services, Inc. (“VPSI”), a provider of systems engineering services to private sector and U.S. federal government defense markets. Terms of the transaction were not disclosed.

 Dukane Seacom, Inc., a subsidiary of HEICO Corporation (NYSE:HEI), has entered into an exclusive license and acquired key related assets of the Aircraft Emergency Locator Transmitter (“ELT”) product line of Honeywell International (NASDAQ:HON), a provider of the RESCU 406 emergency locator transmitter (“ELT”) family that enable critical emergency transmission signals in the event of aircraft impact on land or water used on nearly all air transport commercial aircraft models, in addition to numerous business, commuter, and rotary wing aircraft. Terms of the transaction were not disclosed.

Excelus Manufacturing Solutions, a portfolio company of Sky Peak Capital, has acquired MacLean Precision Machine Company, Inc., a provider of precision-machined, tight-tolerance parts of all types of stainless steels, Inconel, titanium, and other hard to machine aerospace metals using turning, milling, grinding, and inspection capabilities to extremely close tolerances for the aerospace, defense, and semiconductor industries. Terms of the transaction were not disclosed.

ForeFlight, LLC, a subsidiary of The Boeing Company (NYSE:BA), has acquired CloudAhoy, Inc., a provider of post-flight debriefing, analytics, and flight operations quality assurance (“FOQA”) software products for flight training, as well as business, general, and military aviation pilots and operators. Terms of the transaction were not disclosed.

LifePort, LLC has acquired the advanced materials line of business of Aeromatrix Composites, a provider of aerospace exterior and interior composite structures with capabilities inclusive of manufacturing design, testing, assembly, and repair for fixed / rotor wing manned and unmanned aircraft for commercial and government customers. Terms of the transaction were not disclosed.

Vance Street Partners has acquired Aero Group Holdings LLC (“AGH”), represented by Tempest Aero Group, a provider of six independent, proprietary FAA approved new and replacement PMA component brands (i.e., Tempest, Alcor, Marvel-Schleber, Precision Airmotive, Consolidated Fuel Systems, and Stratus Tool Technologies) that primarily support the production and sustainment of Lycoming and Continental engines that power the majority of the global piston fleet for the general aviation industry.  Terms of the transaction were not disclosed.

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