Industry Week in Review – March 17, 2023
KippsDeSanto & Co. Industry Week in Review – March 17, 2023
Industry Week in Review – March 17, 2023
M&A Transactions
Ajax Defense has acquired Whelan Manufacturing & Tool, LLC., a portfolio company of Gremada Industries, Inc., a provider of precision machine products and services including manual and precision and turning milling services tailored to individual client needs for the defense, transportation, sanitation, energy, automotive, and law enforcement industries. Terms of the transaction were not disclosed.
Hunter Defense Technologies, Inc. (“HDT Global”), a portfolio company of Nexus Capital Management, has acquired Aviation Ground Equipment Corp. (“AGEC”), a provider of aviation ground support equipment, including land-based and shipboard portable ground power units (“GPU”), and portable universal load banks (“ULB”), ASU hoses and connectors, ASU spares, GPU cables & connectors, GPU spares, PCA hoses & connectors, and PCA spares for private sector and U.S. federal government aerospace and defense markets. Terms of the transaction were not disclosed.
Iten Defense, a portfolio company of Edgewater Capital Partners, has acquired Transparent Armor Solutions (“TAS”), a provider of certified ballistic glass and frame systems for defense, automotive and architectural applications. Terms of the transaction were not disclosed.
Optiv Security, Inc., a portfolio company of KKR & Co. LP (NYSE:KKR), has acquired ClearShark, LLC., a provider of technical and information technology services to the defense and intelligence sectors. Terms of the transaction were not disclosed.
RE3DTECH, a portfolio company of CORE Industrial Partners, LLC, has acquired Phoenix Proto Technologies, a provider of on-demand design and manufacturing services with expertise in rapid, production-quality aluminum tooling and injection molding services for prototype through production quantity parts, as well as CNC machining and additive manufacturing services for customers in the aerospace & defense, medical, consumer, and industrial markets. Terms of the transaction were not disclosed.
Parsons Corporation (NYSE:PSN) has agreed to acquire IPKeys Power Partners, LLC., a provider of comprehensive cloud-based cybersecurity, software solutions that operate at the intersection of information and operational technology (“IT” and “OT”) for private sector and U.S. federal government defense markets. The transaction is valued at $43 million.
Silver Lake Partners has agreed to acquire Qualtrics International, Inc. (NASDAQ:XM), a provider of experience management (“XM”) software solutions for private sector and U.S. federal government aerospace, defense, education, and healthcare markets. The transaction is valued at $12.5 billion.
TransDigm Group, Inc. (NYSE:TDG) has agreed to acquire Calspan Corp., a provider of independent testing and technology development services, solutions, and systems, with applications including mobility & safety, flight & wind tunnel, jet engine test solutions, and hypersonics in the aerospace, defense, and automotive industries. The transaction is valued at $725 million.
Voyager Space Holdings, Inc., has acquired Zin Technologies, Inc., a provider of leading engineering, design and integration services with decades-long experience providing critical human-rated spaceflight systems and monitoring solutions, propulsion, and more to NASA, national security agencies, and leading aerospace and defense companies. Terms of the transaction were not disclosed.
