Industry Week in Review – May 5, 2023
KippsDeSanto & Co. Industry Week in Review – May 5, 2023
Industry Week in Review – May 5, 2023
M&A Transactions
AIM MRO Holdings, Inc., a portfolio company of AE Industrial Partners, has acquired Gerard Poly Mouldings Ltd. (“GPM”), a provider of silicone and urethane masking products used to protect critical hardware for aero engines and industrial gas turbines (“IGTs”) throughout maintenance, repair, and overhaul processes. Terms of the transaction were not disclosed.
Apollo Global Management (NYSE: APO) has agreed to acquire Arconic Corporation (NYSE: ARNC), a provider of aluminum sheet, plate, and extrusions, as well as innovative architectural products that advance the aerospace, commercial transportation, and various related industrial sheets. The transaction is valued at $5.2 billion.
Bernhard Capital Partners (“BCP”) has acquired VSE Federal & Defense, a subsidiary of VSE Corporation (NASDAQ: VSEC), a provider of reliable supply chain and logistics management services, technical support, modernizations, and MRO services to maintain and extend the lifecycle of land, sea, and air military assets. The transaction is valued at $100 million.
Culmen International, LLC has acquired Vysnova Partners Inc., a provider of a broad range of professional and technical support services worldwide for government and commercial clients. Terms of the transaction were not disclosed.
Firan Technology Group (“FTG”) (TSE: FTG) has acquired IMI Inc., a provider of fabricated, specialized Radio Frequency (“RF”) / microwave, mixed dielectric / hybrid substrates and traditional printed circuit boards (“PCBs”) with capabilities enabling PTFE, FR-4, ceramic filled, and woven glass substrates (or any combination herein) with any surface finish for the RF / microwave, aerospace, industrial, military, telecommunications, and medical end markets. Terms of the transaction were not disclosed.
ITT Inc. (NYSE: ITT) has acquired Micro-Mode Products, Inc., a provider of high-bandwidth RF and hermetic connectors for various harsh environment defense and space-based applications including radar, satellite and smart defense systems qualified on numerous U.S. space and defense programs for over 30 years. The transaction is valued at $80 million.
Lentech, Inc. has acquired Eclipse Engineering LLC, a provider of software and IT solutions to private sector and U.S. federal government defense and intelligence markets. Terms of the transaction were not disclosed.
Micross Components, a portfolio company of Behrman Capital, has acquired Technograph Microcircuits Ltd., a provider of hybrid integrated circuits, RF & microwave products, optoelectronics, and PCB assembly for private sector and international government space, aerospace, defense, medical, automotive, telecommunications, and energy end markets. Terms of the transaction were not disclosed.
VSE Corporation (NASDAQ: VSEC) and The Loar Group, Inc. have acquired Desser Aerospace, a portfolio company of Graham Partners, a provider of value-added aftermarket solutions offering proprietary solutions, specialty distribution, and MRO services to a diverse and attractive customer base spanning commercial aviation, business and general aviation, and military aftermarket segments. The transaction is valued at $124 million.
