Industry Week in Review – June 9, 2023
KippsDeSanto & Co. Industry Week in Review – June 9, 2023
Industry Week in Review – June 9, 2023
M&A Transactions
AE Industrial Partners has acquired Yingling Aviation, a provider of maintenance, repair, and overhaul (“MRO”) and fixed-base operator (“FBO”) services to business aviation and government customers throughout the U.S. Terms of the transaction were not disclosed.
Bain Capital Special Situations has made an investment in KP Aviation, LLC, a provider of essential, high-quality, mid-life, lower-cost aftermarket assets, materials, and services relative to OEM solutions as the supplier of choice to the fixed-wing aviation marketplace serving more than 4,000 airlines, aircraft maintenance companies, investment and leasing firms, and aviation aftermarket suppliers globally. Terms of the transaction were not disclosed.
Barnes Group, Inc. (NYSE:B) has acquired MB Aerospace Holdings, a portfolio company of The Blackstone Group and provider of precision aero-engine components including the manufacture of high-value fabricated assemblies and complex machined components, component repair, and vertically integrated special processes for a wide range of applications to over 100 aero-engine platforms directly serving major aero-engine OEMs and Tier 1 suppliers. The transaction is valued at $740 million.
Firefly Aerospace, a portfolio company of AE Industrial Partners, has acquired Spaceflight, Inc., a provider of flight-proven orbital vehicles enabling payload deliveries, hosting, transfer, and rideshare services with capabilities spanning clean room manufacturing and assembly, environmental testing, and large high bays for concurrent spacecraft production supporting the deployment of over 460 payloads into space. Terms of the transaction were not disclosed.
Indra (BME:IDR) has agreed to acquire Park Air, a subsidiary of Northrop Grumman (NYSE:NOC) and provider of ground-to-air radio systems and air traffic management (“ATM”) radios throughout the world enabling communication with aircraft during take-off, flight, and landing with two core product lines serving the civil and military sectors with key customers including air navigation service providers, systems integrators, and government military organizations. Terms of the transaction were not disclosed.
KKR (NYSE:KKR) has agreed to acquire CIRCOR International (NYSE:CIR), a provider of mission-critical flow control products and services for the Industrial and Aerospace & Defense markets serving more than 14,000 customers in approximately 100 countries. The transaction is valued at $1.6 billion.
York Space Systems, a portfolio company of AE Industrial Partners, has acquired Emergent Space Technologies, a provider of mission software and Guidance, Navigation, and Control (“GN&C”) solutions including 10 proprietary IP-backed flight and ground software products with core competencies in systems engineering; position, navigation, and timing (“PNT”); modeling and simulation; and software architecture, design, development, and test, having delivered solutions to U.S. defense agencies, the Intelligence Community, and NASA for over 20 years. Terms of the transaction were not disclosed.
