Columbia West Capital News - Industry Deal Intelligence
11.20.14 CWC Q3 2014 Aerospace & Defense M&A and Financing Report


This report is prepared as a courtesy to the Aerospace & Defense business community by Columbia West Capital based on our research and information collected by our firm. Despite our dedicated efforts, occasionally a deal might be missed or appropriate credit not given to legal or financial advisors. Please feel free to contact us if you have information on a transaction that you want to ensure is included and credit attributed to appropriate advisors.   

M&A - Strategic  

7/10/2014 Sierra Nevada Corporation acquired Orbital Technologies Corporation for an undisclosed amount. Sierra Nevada, based in Sparks, Nevada, develops, engineers, and manufactures high technology electronics, avionics, and communications systems for commercial and government sectors. Orbital Technologies, based in Madison, Wisconsin, engages in the aerospace subsystem development and integration.  

8/18/2014 Lockheed Martin Corporation (NYSE:LMT) acquired Zeta Associates Incorporated for an undisclosed amount. Lockheed Martin, based in Bethesda, Maryland, is a security and aerospace company engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services for defense, civil, and commercial applications in United States and internationally. Zeta Associates, based in Fairfax, Virginia, provides software-based communications signals collection and processing systems to intelligence and defense communities worldwide. Hogan Lovells US LLP served as legal advisor to Lockheed Martin.  

7/1/2014 H-D Advanced Manufacturing Company acquired Sungear, Inc. for an undisclosed amount. H-D Advanced Manufacturing Company, based in Pittsburgh, Pennsylvania, manufactures heavy-duty, precision-engineered industrial components, mission-critical gears and gearboxes. Sungear, based in San Diego, California, manufactures and inspects precision gears components and sub-assemblies for commercial and military aerospace and defense applications. K&L Gates LLP served as legal advisor to Sungear. Jones Day served as legal advisor to H-D Advanced Manufacturing.  

7/9/2014 GlobalParts.aero acquired the assets of Tulakes Aero, Inc. for an undisclosed amount. GlobalParts.aero, based in Augusta, Kansas, operates as a distributor of aviation spares and replacement parts. Tulakes Aero, which has been renamed Global Parts Aero Structures, is based in Bethany, Oklahoma and   repairs, overhauls, exchanges, and sells jet parts for commercial, military, and corporate aircraft.  

7/9/2014 The Avascent Group acquired the satellite, space, and telecommunications businesses of Futron Corporation for an undisclosed amount. The Avascent Group, based in Washington, D.C., provides strategy and management consulting services to clients operating in government-driven markets. Futron, based in Bethesda, Maryland, is a space industry consultancy that provides decision management solutions primarily to commercial and government aerospace markets worldwide.  

7/10/2014 Liberty IT Solutions LLC acquired Warrior Technology LLC for an undisclosed amount. Liberty IT Solutions, based in Reston, Virginia, provides technology solutions for healthcare, defense, and civilian government clients. Warrior Technology, based in Melbourne, Florida, is a software development and systems-integration company that provides technology solutions for government healthcare, government security and intelligence, and civilian government clients.  

9/30/2014 HESCO Bastion Ltd. acquired a majority stake in Reed Composite Solutions, LLC for an undisclosed amount. HESCO Bastion, based in Leeds, United Kingdom, is engaged in the design, development, and manufacture of deployable protective barrier systems for national armed forces, civil and environmental customers, and security and government agencies around the world. Reed Composite Solutions, based in Aberdeen, Washington, is engaged in the design and manufacture of composite solutions for life protection, architectural, automotive, aerospace, sporting goods, and other markets.  

7/30/2014 World Fuel Services Corp. (NYSE:INT) acquired Colt International, Inc. for approximately $63.0 million. World Fuel Services, based in Miami, Florida, is a fuel logistics company that markets, sells, and distributes aviation, marine, and land fuel products and related services worldwide. Colt International, based in Webster, Texas, provides fuel and aviation services for private aviation clients, corporate flight departments, and vendors around the world.  

7/31/2014 Precision Aviation Group, Inc. acquired Aviation Controls, Inc.for an undisclosed amount. Precision Aviation Group, based in Atlanta, Georgia, provides products and services to aerospace and defense industries worldwide. Aviation Controls, based in Independence, Kansas, provides repair and overhaul of aircraft turbine engine controls and accessories.  

8/4/2014 Selmet, Inc. acquired Onamac Industries Inc. for an undisclosed amount. Selmet, based in Albany, Oregon, manufactures and supplies small to medium size titanium castings for the aerospace industry. Onamac Industries, based in Everett, Washington, engages in the production and sale of milled, turned, combo, and assembled precision components for aerospace, commercial, and military markets.  

8/14/2014 Preferred Systems Solutions, Inc. acquired Global Services & Solutions, Inc. for an undisclosed amount. Preferred Systems Solutions, based in Vienna, Virginia, provides information technology, engineering, and program management services. Global Services & Solutions, based in Arlington, Virginia, provides professional engineering and consulting services to navy clients.  

9/15/2014 Legacy Aviation Services acquired Mid-Continent Airmotive, Inc.for an undisclosed amount. Legacy Aviation Services Inc. is an aviation services company based in Yukon, Oklahoma. Mid-Continent Airmotive, also based in Yukon, Oklahoma, provides parts, aviation fuels, and maintenance services for twin turbine and jet aircraft.  

9/1/2014 Malabar International Inc. acquired DAE Industries for an undisclosed amount. Malabar International, based in Simi Valley, California, manufactures and supplies ground support equipment for aircraft maintenance. DAE Industries, based in Louisville, Kentucky, manufactures commercial and military aviation products for customers worldwide.  

9/8/2014 Yingling Aviation acquired the assets of ICT Aviation Services for an undisclosed amount. Yingling Aviation, based in Wichita, Kansas, is a full-service fixed base operator that engages in general aviation sales, service, and support activities. ICT Aviation Services provides aircraft de-icing services and is based in Wichita, Kansas. 

9/12/2014 Valence Surface Technologies, Inc. acquired BlueStreak Finishers, Ltd. for an undisclosed amount. Valence Surface Technologies, based in Gardena, California, develops and operates an aerospace and defense metal processing platform. BlueStreak Finishers, based in Everett, Washington, is a manufacturing and metal processing company that engages in manufacturing and finishing aircraft and commercial parts for aerospace and commercial industries globally.  

M&A - Financial  

8/20/2014 Graham Partners Investments acquired an unknown majority stake in Desser Tire & Rubber Co., Inc. Graham Partners, based in Newton Square, Pennsylvania, specializes in acquisitions, management-led buyouts, growth financings, and recapitalizations of privately held middle market companies. Desser Tire & Rubber Co., based in Montebello, California, markets aircraft tires and tubes in the United States and internationally.

9/16/2014 Charlesbank Capital Partners, LLC along with the management of HDT Global, Inc. acquired HDT Global, Inc. from Metalmark Capital LLC and others for an undisclosed amount. Charlesbank Capital Partners, based in Boston, Massachusetts, specializes in investments in mature middle market companies, management-led buy-outs, PIPES, and growth capital financings. HDT Global, based in Solon, Ohio, designs and manufactures shelters, generators, heaters, air filtration devices, robotics, and other engineered technologies. Kirkland & Ellis LLP served as legal advisor to Metalmark Capital. Ropes & Gray LLP served as legal advisor to Charlesbank Capital Partners.            

Private Placements  

7/2/2014 Ocean Aero, Inc. announced that it has received an undisclosed amount of funding from Teledyne Technologies Inc. (NYSE:TDY). Teledyne Technologies, based in Thousand Oaks, California, manufactures and sells aerospace and defense products primarily in the United States and Canada. Ocean Aero, based in San Diego, California, designs, develops, and manufactures unmanned autonomous underwater vehicle solutions for military, scientific, academic, commercial, government, security, and oil and gas communities around the world.

7/11/2014 HDT Global, Inc. announced that it will receive an undisclosed amount of equity funding from existing investor Metalmark Capital LLC. Metalmark Capital, based in New York, New York, is a private equity firm specializing in buyouts, acquisition support, growth equity, and platform investments in middle market businesses. HDT Global, based in Solon, Ohio, designs and manufactures shelters, generators, heaters, air filtration devices, robotics, and other engineered technologies.

7/22/2014 Sunvair Inc. announced that it has received an undisclosed amount of funding from new investor Blue Sea Capital LLC. Blue Sea Capital, based in Palm Beach, Florida, is a private equity firm specializing in buyouts, leveraged acquisitions, recapitalizations, industry consolidations, growth financing, emerging growth, later stage, mature, and lower middle market investments. Sunvair, based in Valencia, California, provides landing gear overhaul services for commercial and military aircraft in North America. 

7/23/2014 Airware, Inc. announced that it will receive $30.0 in a round of funding from new investor, Kleiner Perkins Caufield & Byers, and two existing investors. Kleiner Perkins is a venture capital firm based in Menlo Park, California. Airware, based in Newport Beach, California, provides autopilots that act as development platforms for micro to mid-size fixed-wing, helicopter, multiple-rotor, and custom configuration unmanned aerial systems.

7/25/2014 Elite Aviation Products, Inc. announced that it will receive $18.0 in a round of funding. As of October 1st, Elite has received $280,000 in its first tranche from 10 investors. Elite Aviation Products, based in Irvine, California, is an aircraft component design, engineering, and manufacturing company in the United States.

8/8/2014 United Tactical Systems LLC announced that it has received an undisclosed amount of equity round funding from new investor, Expedition Capital Partners LLC. Expedition Capital Partners, based in Chicago, Illinois, is a private equity firm specializing in leveraged buyouts in the lower middle-market. United Tactical Systems, based in Lake Forest, Illinois, manufactures and markets irritant-filled projectiles and associated air launchers under the PepperBall brand. Additionally, PepperBall announced that it has received a recapitalization round of funding for an undisclosed amount. The transaction included participation from new investor, ClearLight Partners LLC and the management of the company. ClearLight Partners is a private equity firm based in Newport Beach, California. 

8/19/2014 The O'Gara Group, Inc. announced that it will receive $5.8 million in funding from eight investors. The O'Gara Group, based in Cincinnati, Ohio, provides security, safety, and defense products and services to governments, militaries, corporations, and individuals worldwide.

8/26/2014 Nanotech Security Corp. (TSXV:NTS) announced a private placement on a best efforts basis of up to CAD $16.0 million. Nanotech Security's subsidiary, Tactical Technologies Inc., based out of Burnaby, British Columbia, designs and sells communication surveillance and intelligence gathering equipment for the law enforcement and defense industries in the United States and Canada.

9/8/2014 3D Robotics Inc. announced that it has received an undisclosed amount of funding from Richard Branson. 3D Robotics, based in Berkeley, California, develops, manufactures, and markets personal drones and unmanned aerial vehicle technology for exploration and business applications. 

9/18/2014 Precision Hawk USA, Inc. announced that it has received $10.0 million in a Series B round of funding from new investor Millennium Technology Value Partners and existing investors. Millennium Technology Value Partners is a New York City-based private equity and venture capital firm. Precision Hawk, based in Noblesville, Indiana, manufactures and sells unmanned aerial vehicles and ground station equipment to collect and process data.

9/23/2014 Teledyne Technologies Inc. (NYSE:TDY) announced that it has entered into a note purchase agreement for a private placement of senior unsecured notes for gross proceeds of $125.0 million. Teledyne Technologies, based in Thousand Oaks, California, manufactures and sells aerospace and defense products primarily in the United States and Canada. Chapman and Cutler served as legal advisor to Teledyne Technologies.