Industry Week in Review – July 9, 2021
KippsDeSanto & Co. Industry Week in Review – July 9, 2021
Industry Week in Review – July 9, 2021
M&A Transactions
Arcline Investment Management LP has acquired a controlling stake in Air Comm Corp. (“ACC”), a provider of environmental control systems (“ECS”), thermal management systems, and other accessories for the aerospace and defense industry. The transaction is valued at $250 million.
BlueHalo, LLC, a portfolio company of Arlington Capital Partners, has acquired Design and Development Engineering Services Corporation, a provider of radiation-hardened, space-qualified electronic systems. Terms of the transaction were not disclosed.
Chumash Capital Investments, LLC has acquired Capco, LLC, a provider of mission-critical energetic devices and mechanical systems for military applications worldwide. Terms of the transaction were not disclosed.
GovernmentCIO, a portfolio company of Welsh, Carson, Anderson & Stowe (“WCAS”) has agreed to acquire Salient CRGT, Inc. (“SCRGT”), a portfolio company of Bridge Growth Partners and Frontenac, a provider of data analytics, cloud, agile software development, cybersecurity, and infrastructure solutions to U.S. national security, federal civilian, and federal health agencies.
HEICO Corporation (NYSE: HEI) has agreed to acquire 89% of Ridge Engineering, Inc. and The Bechdon Company, Inc. from Breidon, Inc. Ridge Engineering, Inc. is a provider of high-tolerance machining and brazing of large-sized parts in mission-critical defense and aerospace applications, whereas The Bechdon Company Inc. is a provider of machining, fabrication, and welding services for aerospace, defense, and other industrial applications. Terms of the transaction were not disclosed.
Huntington Ingalls Industries, Inc. (NYSE: HII) has agreed to acquire Alion Science and Technology, a portfolio company of Veritas Capital Fund Management, LLC, a provider of advanced engineering, research, and development services in the areas of intelligence, surveillance, and reconnaissance as well as military training and simulation, cyber solutions, and data analytics. The transaction is valued at $1.65 billion.
MetOcean Telematics Limited has acquired the OmniCom Vessel Management Systems (“VMS”) and Fleet Management Solutions (“FMS”) businesses of Orolia Holding SAS, a portfolio company of Eurazeo SE. These businesses provide fleet management technology designed to bring constant connectivity to customers, businesses, vessels, and crew while at sea. Terms of the transaction were not disclosed.
Micross Components, Inc., a portfolio company of Behrman Capital, L.P. has acquired the microelectronics business from Ultra CEMS, a subsidiary of Ultra Electronics Holdings plc. (LSE: ULE), a provider of safety critical, high reliability, low-to-medium volume Contract Electronics Manufacturing Solutions (“CEMS”). Terms of the transaction were not disclosed.
Nettar Group, Inc., doing business as Satellogic, backed by CF Acquisition Corp. V (CFAC V) will form a publicly traded special purpose acquisition company (“SPAC”), as a provider of vertically integrated geospatial analytics. The transaction is valued at $850 million.
Omega Optical Holdings, a portfolio company of Artemis Capital Partners, LLC, has acquired Spectral Systems, Inc., a provider of mission-critical infrared optical coatings, components, and assemblies. Terms of the transaction were not disclosed.
Planet Labs Inc. backed by dMY Technology Group, Inc. will form a SPAC, as a provider of daily data and insights about Earth. The transaction is valued at $2.8 billion.
Thales S.A. (ENXTPA: HO) has agreed to acquire the ground-based navigation aids business of Moog, Inc. (NYSE: MOG.A), a provider of ground and ship-based radio frequency navigation beacons and related antennas for military and civilian applications. Terms of the transaction were not disclosed.
Valiant Integrated Services, LLC, a portfolio company of The GC Companies, LLC has acquired Alliance Technical Services (“ATS”), Inc., a provider of mechanical system overhaul and repair, equipment installation, manufacturing and fabrication, and technical support for marine mechanical systems. Terms of the transaction were not disclosed.
