KippsDeSanto & Co. Industry Week in Review – March 10, 2023

Industry Week in Review – March 10, 2023

M&A Transactions

Cobham Advanced Electronic Solutions, a subsidiary of Cobham Ltd., a portfolio company of Advent International, has acquired the Specialty Radio Frequency Business of Ultra Electronics Holdings, Ltd., a subsidiary of Cobham Ltd., a portfolio company of Advent International, a provider of microwave and millimeter wave solutions for radars, flight instrumentation, weapon sensors, electronic warfare systems, and guidance systems for contractors, the U.S. government, and governments and militaries worldwide. Terms of the transaction were not disclosed.

Epiris LLP has acquired LoneStar PRD Group Ltd., a portfolio company of AEA Investors, a provider of customized, high-performance fasteners, gaskets, and precision machined components to leading OEMs, distributors, and end-users in the global oil and gas, oil refining, power generation, general industrial, and military markets. Terms of the transaction were not disclosed.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) has agreed to acquire DataPath, Inc., a provider of advanced and secure communications solutions tailored to the unique requirements of its commercial, government, military, aerospace, broadcast, and critical infrastructure clients. Terms of the transaction were not disclosed.

International Defense & Aerospace Group (“IDAG”) has acquired Ace Aeronautics, LLC, a provider of commercial (“COTS”) and military off-the-shelf (“MOTS”) products for fixed and rotary wing aircraft that provide state-of-the-art system solutions to resolve avionics obsolescence and capability gaps. Terms of the transaction were not disclosed.

Jitterbit, Inc. has acquired Zudy Software, a provider of full-stack, end-to-end application development solutions for private sector and U.S. federal government defense and enterprise markets. Terms of the transaction were not disclosed.

National Instruments Corp. (NASDAQ: NATI) has acquired Smart Embedded Technologies (“SET”), GmbH, a provider of semiconductor test systems, Hardware in the Loop (“HiL”) and functional test systems, and development and manufacturing electronic systems solutions for the aviation, semiconductor, and automotive industries. Terms of the transaction were not disclosed.

Raptor Scientific, LLC, a portfolio company of L Squared Capital Partners, has acquired King Nutronics Corp., a provider of test, measurement, and calibration equipment (e.g., pressure, temperature, air data, torque/force, and oxygen-clean sensors) for the defense, industrial, space, and aerospace markets. Terms of the transaction were not disclosed.

The Sterling Group and Capitol Meridian Partners have agreed to acquire PrimeFlight Aviation Services, Inc., a portfolio company of The Carlyle Group, a provider of GSE maintenance, ground handling services, aircraft services, into-plane fueling, deicing, aviation cleaning supplies, and terminal services to global aviation customers. Terms of the transaction were not disclosed.

TRM Equity has acquired Gamma Aerospace, LLC, a provider of multi-contoured formed and multi-axis machined parts for private sector and U.S. federal government markets. Terms of the transaction were not disclosed.

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

Industry Week in Review – February 24, 2023

M&A Transactions

Booz Allen Hamilton (NYSE: BAH) has made a strategic investment in Hidden Level, Inc., a provider of passive sensing technology of unmanned aerial systems (“UAS”), such as drones, for high-interference environments. Terms of the transaction were not disclosed.

cBEYONData LLC, a portfolio company of Bluestone Investment Partners, LLC, has acquired Summit2Sea Consulting, LLC, a provider of data analytics, robotic process automation, and enterprise application modernization services to private sector and U.S. federal government civilian, defense, and energy markets. Terms of the transaction were not disclosed.

 EDGE Group PJSC has acquired Milrem AS, a provider of robotics and autonomous systems for private sector and international government markets. Terms of the transaction were not disclosed.

NV5 Global, Inc. (NASDAQ: NVEE) has acquired Axim Geospatial, a portfolio company of Bluestone Investment Partners, a provider of end-to-end geospatial services and solutions throughout the U.S. through core competencies that include big data services, geomatics, business solutions, cloud services, infrastructure security, analytics, and professional services. Terms of the transaction were not disclosed. KippsDeSanto & Co. acted as financial advisor to Axim Geospatial.

Tex-Tech Industries, Inc., a portfolio company of Arlington Capital Partners, has acquired the operating assets of the Gardena, CA sites and certain assets of SGL Composites, Inc. from SGL Carbon SE (XTRA: SGL), a provider of complex, industry leading high-temperature composite materials and components with high carbon and silica purities. Terms of the transaction were not disclosed.

The Cadmus Group, LLC, a portfolio company of CI Capital Partners, LLC, has acquired Nathan Associates, Inc., a provider of economic and analytics consulting services to government and commercial clients specializing in international development, litigation & expert services, infrastructure project development & finance, and advisory based services. Terms of the transaction were not disclosed.

TriMas Corp. (NASDAQ: TRS) has acquired the net operating assets of Weldmac Manufacturing Company, a provider of high-performance, complex metal fabricated components and assemblies for the aerospace, defense, and space launch end markets. Terms of the transaction were not disclosed.

Vast has acquired Launcher, Inc., a provider of the world’s most efficient rockets and transfer vehicles to deliver small satellites to orbit by combining liquid propulsion technology and onsite 3D manufacturing. Terms of the transaction were not disclosed.

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KippsDeSanto & Co. Industry Week in Review – February 10, 2023

Industry Week in Review – February 10, 2023

M&A Transactions

BlueAlly Technology Solutions, LLC, a portfolio company of Source Capital, LLC, has acquired n2Grate Government Technology Solutions, LLC, a provider of integrated information technology services and solutions serving the private sectors and federal government defense, healthcare, and civilian markets. Terms of the transaction were not disclosed.

 Lone Star Funds has agreed to acquire Titan Acquisition Holdings, a portfolio company of The Carlyle Group and Stellex Capital Management, a provider of ship repair services and marine and heavy complex fabrication comprised of 3 subsidiaries: (1) Vigor Industrial (provider of infrastructure, defense, and maritime services); (2) MHI Holdings (ship repair, maintenance, and other ship husbandry services); and (3) Continental Maritime of San Diego (“CMSD”).  Terms of the transaction were not disclosed.

Prince Industries, Inc., a portfolio company of HC Private Investments (“HCPI”), has acquired Precision Shapes, Inc. (“PSI”), a provider of complex material and tight tolerance precision machining solutions to private sector and U.S. federal government aerospace and defense markets.  Terms of the transaction were not disclosed.

StandardAero, a portfolio company of The Carlyle Group, has acquired Western Jet Aviation, a portfolio company of Fletch Equity, a provider of maintenance services for business jets, specializing in Gulfstream aircraft, offering a myriad of Aircraft on the Ground (“AOG”) and scheduled maintenance services including airframe inspections, engine and Auxiliary Power Unit (“APU”) troubleshooting, diagnostics and repair, part sales, interior soft goods modifications and wood repair, and major structural repairs.  Terms of the transaction were not disclosed.

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

Industry Week in Review – January 27, 2023

M&A Transactions

AE Industrial Partners (“AEI”) has acquired a significant stake in REDLattice, a provider of full spectrum cyber capabilities for customers in the U.S. national security, defense, and commercial communities. Terms of the transaction were not disclosed.

Digital Management, LLC (“DMI”), a portfolio company of Oceansound Partners, has acquired Simplex Mobility, a provider of assets and expense management software. Terms of the transaction were not disclosed.

Godspeed Capital Management LP (“Godspeed Capital”) has acquired Morris & Associates, Engineers, LLC (“Morris & Associates”), a provider of design, permitting, and construction administration of fuel systems for retail, fleet, institutional and municipal facilities as well as 3D laser scanning and drone surveying to analyze sites for clients across the Department of Transportation, Department of Defense, and retail sectors. Terms of the transaction were not disclosed.

Iron Bow Technologies, a portfolio company of H.I.G. Capital, has acquired GuardSight, Inc., a provider of cybersecurity operations as a service (“SECOPS”) and managed detection and response (“MDR”) services for businesses and organizations across the U.S. Terms of the transaction were not disclosed.

Quad-C Management, Inc. has agreed to acquire QED Technologies International, Inc. (“QED”), a subsidiary of Entegris, Inc. (NASDAQ: ENTG), a provider of high performance polishing and metrology of surfaces and materials and manufacturer of highly precise optical components for the global precision optics industry including semiconductor, military, space, R&D, imaging, and other industries. Terms of the transaction were not disclosed.

Thoma Bravo has agreed to acquire Magnet Forensics, a provider of digital forensic software that can collect, analyze, and report on digital evidence which includes corporate fraud, IP theft, employee misconduct and external threats such as ransomware, business email compromise and malware attacks found during investigations in the private sector and U.S. federal government law enforcement markets. Terms of the transaction were not disclosed.

Trive Capital has acquired Kittyhawk, Inc., a provider of Hot Isostatic Pressing (“HIP”) services for a variety of industries including space, commercial aerospace, defense, and medical applications. Terms of the transaction were not disclosed.

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

Industry Week in Review – January 6, 2023

M&A Transactions

AVEX, Inc., a portfolio company of New State Capital, has acquired Blackhawk Aerospace, a provider of a wide range of aviation services including MRO, engine upgrades, composites, aircraft sales, and other technologies to the commercial and government aviation markets.  Terms of the transaction were not disclosed.  KippsDeSanto & Co. acted as financial advisor to Blackhawk Aerospace.

 Emko Capital has acquired two confidential defense aerospace parts manufacturers, providers of machining and assembling specializing in aerospace and defense parts and assemblies.  Terms of the transaction were not disclosed.

 Integrated Polymer Solutions, a portfolio company of Arcline Investment Management, has acquired Akrofire, Inc., a provider of highly engineered, elastomeric, fire seal solutions and cargo bay repairs for the business jet, commercial aerospace, and defense aerospace markets.  Terms of the transaction were not disclosed.

 MartinFed has acquired Xcel Engineering, Inc., a provider of engineering services from IT staffing, IT solutions, environmental engineering, and project management and consulting.  Terms of the transaction were not disclosed.

Progress Software Corp. has agreed to acquire MarkLogic Corp. a portfolio company of Vector Capital Corp., a provider of solutions for managing complex data and metadata. The transaction is valued at $355 million.

 Tetra Tech, Inc (NYSE: TTEK) has acquired Amyx, Inc., a provider of enterprise technology services, cybersecurity, and management consulting services.  Terms of the transaction were not disclosed.

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