Industry Week in Review – August 11, 2023
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.
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