Industry Week in Review – September 20, 2024
KippsDeSanto & Co. Industry Week in Review – September 20, 2024
Industry Week in Review – September 20, 2024
M&A Transactions
Bel Fuse, Inc. (NASDAQGS:BELF.A) has agreed to acquire an 80% stake in Enercon Technologies Ltd., a portfolio company of Fortissimo Capital and provider of highly engineered power conversion and networking solutions for global aerospace and defense markets. The transaction is valued at $330 million.
CACI International, Inc. (NYSE: CACI) has agreed to acquire Azure Summit Technology, Inc., a provider of high performance radio frequency (“RF”) hardware, firmware, and software products with innovative, practical, and multifunction RF systems solutions for private sector and defense markets. The transaction is valued at $1.3 billion.
Fairbanks Morse Defense, a portfolio comany of Arcline Investment Management, has agreed to acquire the Naval Propulsors and Handling businesses of Rolls-Royce plc (LSE: RR.), providers of highly specialized propellers, waterjets, and handling systems for deployment and recovery of cargo from naval vessels across the U.S. Navy, U.S. Coast Guard, and various other naval applications. Terms of the transaction were not disclosed.
Strategic Innovation Group, LLC has acquired Excelcion, a provider of cybersecurity, DevSecOps, program management, financial management, and training solutions to private sector and U.S. federal government defense, emergency response, and homeland security markets. Terms of the transaction were not disclosed.
