Industry Week in Review – November 22, 2019
KippsDeSanto & Co. Industry Week in Review – November 22, 2019
Industry Week in Review – November 22, 2019
M&A Transactions
ARCH Global Precision LLC, a portfolio company of The Jordan Company L.P., has acquired Aero Pacific Corp. and 2nd Source Wire & Cable, Inc. (collectively, “APC”), a provider of large complex structural components, with a focus on hard-metals machining, for aerospace and defense end markets. Terms of the transaction were not disclosed.
Cubic Corp. has exercised its option to acquire the remaining 80% stake in PIXIA Corp., a provider of high-performance advanced data indexing, warehousing, processing and dissemination software solutions for large volumes of imagery data within traditional or cloud-based architectures. The transaction for the remaining 80% stake in PIXIA was valued at $200 million. Cubic previously announced in August 2019 that it acquired a 20% minority stake in PIXIA for $50 million.
Fletch Equity has acquired Western Jet Aviation, a provider of maintenance services for business jets, specifically with a focus on Gulfstream type aircrafts. Terms of the transaction were not disclosed.
Guardian Capital Partners has acquired WS Acquisition, LLC, a provider of shelters and field support systems, which include rigid and inflatable framed shelters in a variety of sizes and trim levels complete with accessories that cover climate control, power generation, water handling, and more. Terms of the transaction were not disclosed.
Intrepid Solutions and Services, Inc. has acquired BWM Outcomes, LLC, a provider of cybersecurity and intelligence analysis services, including: cyber threat intelligence; information assurance; intrusion detection and remediation; data analytics; document and media exploitation; and improvised threat analytics. Terms of the transaction were not disclosed.
Nammo Defense Systems Inc., a subsidiary of Nammo AS, has agreed to acquire Chemring Ordnance, Inc., a subsidiary of Chemring Group plc, a provider of a range of ordnance and pyrotechnic products primarily for military customers. The transaction was valued at $17.0 million. KippsDeSanto acted as the exclusive financial advisor to Chemring Group plc.
nLight, Inc. has acquired Nutronics, Inc., a provider of coherently-combined laser and beam control systems for high-energy (HEL) systems servicing the defense market. The transaction was valued at $33.3 million.
NV5 Global, Inc. has agreed to acquire Quantum Spatial, Inc., a provider of geospatial and geographic insights to government and corporate organizations that need geospatial intelligence to mitigate risk, plan for growth, better manage resources and advance scientific understanding. The transaction was valued at $302.5 million.
PPG Industries, Inc. has acquired Texstars, LLC, a subsidiary of Ascent Aerospace, a provider of high-performance transparent coatings and plastic components for aerospace and defense applications. Terms of the transaction were not disclosed.
Radius Aerospace, Inc., a portfolio company of Arlington Capital Partners, has acquired the Aerospace Forming and Fabricating Business of Doncasters Group, a portfolio company of Dubai International Capital LLC, a provider of complex forming and fabrication components to the aerospace and defense industries with a primary focus on engines. Terms of the transaction were not disclosed.
Rafael Advanced Defense Systems Ltd. has acquired a 50% stake in Kanfit Ltd, a provider of primary and detailed parts, sub-assemblies, and fit-to-fly assemblies made from composites and sheet & block metals. Terms of the transaction were not disclosed.
TT Electronics plc has agreed to acquire Excelitas Technologies Corp., a portfolio company of AEA Investors L.P., a provider of mission-critical power and support for a wide range of demanding electronics systems used in airborne, shipboard, ground, and space-based platforms. The transaction was valued at $17.7 million.
