Industry Week in Review – August 25, 2023
KippsDeSanto & Co. Industry Week in Review – August 25, 2023
Industry Week in Review – August 25, 2023
M&A Transactions
AeroVironment (NASDAQ: AVAV) has agreed to acquire Tomahawk Robotics, a provider of AI-enabled robotic control systems, particularly the Kinesis Ecosystem, an AI-enhanced and open architecture common control system that seamlessly integrates the network of battle-proven unmanned expeditionary vehicles, sensors, and third-party software onto an integrated system delivering targeted situational awareness and precision strike capabilities for human-machine teams across the battlespace. The transaction is valued at $120 million.
Aretum, LLC, a portfolio company of Renovus Capital, has acquired Artemis Consulting, Inc., a provider of management consulting, mission support, and technology solutions for private sector and U.S. Federal Government markets. Terms of this transaction were not disclosed.
Converged Security Solutions, LLC, a portfolio company of Hillcrest Holdings, has acquired Solutions by Design II, LLC, a provider of cybersecurity, development, security, and operations (“DevSecOps”), and cloud solutions for private sector and U.S. Federal Government civilian and healthcare markets. Terms of this transaction were not disclosed.
Forward Slope Incorporated, a portfolio company of Trive Capital, has acquired Hypergiant Industries, a provider of AI-enabled, cloud-based command and control technologies and deployed solutions in addition to a world-class core geospatial data visualization and actions platform which applies real-time threat analysis, makes artificial intelligence (“AI”) generated recommendations, and delivers intelligent insights across all domains. Terms of this transaction were not disclosed.
Forward Slope Incorporated, a portfolio company of Trive Capital, has acquired SoarTech, a provider of advanced artificial intelligence (“AI”) solutions to address complex Department of Defense (“DoD”) mission requirements. Terms of this transaction were not disclosed. KippsDeSanto & Co. acted as financial advisor to SoarTech.
H.I.G. Capital has acquired Ascent Global Logistics, a portfolio company of Elliot Investment Management, a provider of technology-enabled, expedited logistics and supply chain services enabling complex, time-critical logistics requirements in on-demand ground and air expedited logistics solutions and other value-added transportation services serving multinational leaders in aerospace, mobility, manufacturing, technology, and related industries globally. Terms of the transaction were not disclosed.
MACOM Technology Solutions Holdings, Inc. (NASDAQ: MTSI) has agreed to acquire the Radio Frequency (“RF”) Business of Wolfspeed, Inc. (NYSE: WOLF), a provider of RF technology optimized with gallium nitride (“GaN”) on silicon carbide (“SiC”) products with GaN wafer fabrication capabilities competitively positioned for next-generation military communications, telecommunications infrastructure, and related commercial applications. The transaction is valued at $125 million.
Michael Baker International, a portfolio company of DC Capital Partners, has acquired Tidal Basin Government Consulting, LLC, a provider of enterprise and community development solutions to private sector and U.S. federal government markets. Terms of this transaction were not disclosed.
Owl Cyber Defense Solutions, LLC, a portfolio company of DC Capital Partners, has acquired Big Bad Wolf Security, LLC, a provider of next generation cloud infrastructure security for private sector and U.S. federal government commercial and defense markets. Terms of the transaction were not disclosed.
RBC Bearings, Inc. (NYSE: RBC) has acquired the Business Assets of Specline, Inc., a provider of precision bearings using proprietary manufacturing processes to produce standard and custom configuration precision spherical bearings, rod ends, and journal bearings with approvals on over 4,000 parts for the commercial and defense aerospace markets. The transaction is valued at $18.7 million.
Sidus Space (NASDAQ: SIDU) has acquired Exo-Space, a provider of edge artificial intelligence / machine learning (“AI / ML”) space-hardened hardware and resilient software for applications with adaptable, proprietary, hardware-agnostic software enabling the upload, exchange, and continuous improvement of analytics of onboard payloads in line with increasing market demand for flexibility and customization in satellite missions and data collection. The transaction is valued at $0.5 million.
The Parsons Corporation has acquired Sealing Technologies, Inc. a provider of cybersecurity solutions across defensive cyber operations, critical infrastructure network protection, and secure data management for private sector and U.S. federal government defense markets. The transaction is valued at $200 million.
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