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Industry Week in Review – October 20, 2023

KippsDeSanto & Co. Industry Week in Review – October 20, 2023

Industry Week in Review – October 20, 2023

M&A Transactions

22nd Century Technologies Inc. has acquired Queues Enforth Development, Inc. a provider of multi-jurisdictional and multi-agency dispatch system supporting next generation 911 interface solutions, high precision GIS mapping, and mobile user access for local, state, and federal law enforcement agencies.

Arcline Investment Management has agreed to acquire Hartzell Aviation, a subsidiary of Tailwind Technologies a provider of proprietary aircraft subsystems and aftermarket components including propeller systems, components, aircraft engine accessories, and specialized parts such as turbochargers, alternators, starters, magnetos, and engine mounts. Terms of the transaction were not disclosed.

CenterGate Capital has acquired Cartridge Technologies, LLC, a portfolio company of Broadtree Partners a provider of managed print services and tech-enabled customized solutions to prominent U.S. government agencies, including the Department of Defense, Department of Homeland Security, and Department of Health & Human Services. Terms of the transaction were not disclosed.

Heads Up Technologies, a portfolio company of JLL Partners, has acquired Alto Aviation, a provider of premium cabin audio and related cabin control solutions and systems for business jet aircraft manufacturers and aftermarket providers. Terms of the transaction were not disclosed.

Integrity Partners Group, a portfolio company of OpenGate Capital, has acquired the Military and Aerospace Business of West Penetone, a provider of specialty cleaners and degreasers used to remove soils and deposits on painted and unpainted surfaces, windows, plastics, composites, and engine of helicopters, gunships, jets, and other air transports. Terms of the transaction were not disclosed.

ITP Aero, a portfolio company of Bain Capital, LLC, has agreed to acquire BP Aero Services, LLC, a provider of aircraft engine aftermarket services including engine component repairs, hospital shop visits, engine teardowns, and field service to private sector and U.S. federal government aerospace markets. Terms of the transaction were not disclosed.

MindPetal Software Solutions, Inc. has announced its acquisition of Vertical Applications, Inc., a provider of intelligent automation, software development, and data services to private sector and U.S. federal government defense, healthcare, and homeland security markets. Terms of the transaction were not disclosed.

The Edgewater Funds, Banbury Private Capital, HF Capital, and Killick Capital have acquired Turbine Engine Specialists, a provider of aftermarket inventory-supported maintenance, repair, overhaul, rental, and distribution services to the global private aviation market. Terms of the transaction were not disclosed.

Universal Technical Resource Services, Inc. has acquired Gaum, Inc., a provider of custom manufactured large parts, complex precision parts, and machine components used in various private sector and U.S. federal government defense markets. Terms of the transaction were not disclosed.

West Star Aviation, a portfolio company of The Sterling Group, has agreed to acquire Jet East, a subsidiary of Gama Aviation (LON: GMAA) a provider of maintenance, repair, and overhaul services for unscheduled events, avionics, on-demand mobile maintenance, and related services covering structural repairs, composite work, non-destructive testing, and paint capabilities for the business jet and commercial aviation markets. The transaction is valued at $131 million.

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