Columbia West Capital News - Industry Deal Intelligence
06.19.15 CWC Q1 2015 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    

1/5/2015 Chart Acquisition Corp. (NasdaqCM:CACG) agreed to acquire Tempus Applied Solutions, LLC for $97.7 million. Chart Acquisition, based in New York, New York, is a holding company formed for the purpose of acquiring an operating business. Tempus offers aircraft engineering, integration and operations solutions to support missions of the United States Department of Defense and is based in Williamsburg, Virginia. Ellenoff Grossman & Schole LLP served as legal advisor to Chart Acquisition. Alston & Bird, LLP served as legal advisor to Tempus.      

1/8/2015 STS Component Solutions, LLC acquired Air-Pro, LLC. The terms of the transaction were not disclosed. STS, along with its subsidiaries, offers materials management, original equipment manufacturer distribution, and supply chain management solutions to the aerospace industry and is based in Palm City, Florida. Air-Pro manufactures and distributes hose assemblies for aircraft, turbine engine, and space applications and is based in Miami, Florida.      

1/13/2015 Aergen Aviation Finance Limited acquired Avioserv San Diego, Inc. The terms of the transaction were not disclosed. Aergen operates as an aircraft leasing company and is based in Dublin, Ireland. Avioserv engages in the supply, sale and exchange of serviceable aircraft engines and parts and is based in San Diego, California.      

1/16/2015 Pacific Architects and Engineers Incorporated acquired the Global Security and Solutions business of USIS, LLC. The terms of the transaction were not disclosed. Pacific Architects and Engineers provides integrated services to support military defense missions worldwide and is based in Arlington, Virginia. The Global Security and Solutions Business of USIS comprises mission support services including litigation support, biometric capture and enrollment, training, construction surveillance, and security consulting. USIS is based in Falls Church, Virginia.      

1/21/2015 Textron Aviation Finance Corporation entered into an agreement to acquire the assets of the Wichita Division of UTC Aerospace Systems. The terms of the transaction were not disclosed. Textron Aviation Finance operates as a subsidiary of Textron, Inc., which operates aircraft, defense, industrial, and finance businesses worldwide and is based in Providence, Rhode Island. The Wichita Division of UTC  comprises an aircraft interior components manufacturing facility in Wichita, Kansas.      

1/26/2015 Tronair, Inc. acquired the Commercial Towbar and Tailstand Product Lines from Wasp, Inc. The terms of the transaction were not disclosed. Tronair designs, manufactures, and distributes aircraft ground support equipment for the aerospace industry and is based in Holland, Ohio. Wasp develops and manufactures ground support equipment for the aircraft industry and is based in Glenwood, Minnesota.      

1/26/2015 Raytheon Missile Systems Company acquired Sensintel, Inc. The terms of the transaction were not disclosed. Raytheon Missile Systems engages in the development and production of missile systems for the armed forces of the United States and other allied nations and is based in Tucson, Arizona. Sensintel designs and manufactures unmanned aerial systems and sensors and is based in Tucson, Arizona.      

1/26/2015 CAE Inc. (TSX:CAE) entered into a definitive agreement to acquire the Military Aviation Training Division of Bombardier Inc. (TSX:BBD.B) for $15.9 million. CAE Inc. provides simulation and modeling technologies, and integrated training services primarily to the civil aviation industry and defense forces worldwide and is based in Saint-Laurent, Canada. Bombardier, together with its subsidiaries, manufactures and sells transportation equipment worldwide and is based in Montréal, Canada.      

1/30/2015 Huntington Ingalls Industries, Inc. (NYSE:HII) acquired the Engineering Solutions Division of The Columbia Group, Inc. The terms of the transaction were not disclosed. Huntington Ingalls Industries engages in designing, building, overhauling, and repairing ships primarily for the U.S. Navy and the U.S. Coast Guard and is based in Newport News, Virginia. The Engineering Solutions Division of The Columbia Group builds and maintains swimmer delivery vehicles for military use and is based in Washington, D.C.      

1/31/2015 Continental Motors Services, Inc. acquired United Turbine Corp. and UT Aeroparts Corp. The terms of the transaction were not disclosed. Continental Motors provides aircraft maintenance, repair, and overhaul services and is based in Fairhope, Alabama. United Turbine Corp. overhauls and repairs aircrafts engines and is based in Miami, Florida. UT Aeroparts Corp. provides inventory of aircrafts engine components and accessories and is based in Medley, Florida.      

1/31/2015 Landmark Aviation, L.L.C. acquired assets of Island City Flying Service, Inc. The terms of the transaction were not disclosed. Landmark Aviation operates a network of fixed base operations and provides aircraft management and charter services and is based in Houston, Texas. Island City Flying Service provides fixed base operator services at the Key West International Airport and is based in Key West, Florida.      

2/2/2015 Flight Support Group, Inc. acquired an 80.1% stake in Harter Industries, Inc. The terms of the transaction were not disclosed. Flight Support Group offers aircraft maintenance services and is based in Sanford, Florida. Harter Industries operates as a commercial and military aircraft component and accessories overhaul shop and engineering company and is based in Tempe, Arizona.      

2/6/2015 Harris Corporation (NYSE:HRS) entered into a definitive agreement to acquire Exelis Inc. (NYSE:XLS) for approximately $4.8 billion. Harris Corporation, together with its subsidiaries, operates as an international communications and information technology company worldwide for military, government, and commercial customers and is based in Melbourne, Florida. Exelis provides command, control, communications, computers, intelligence, and surveillance and reconnaissance electronics and systems to the U.S. Department of Defense, U.S. Government intelligence agencies, NASA, the Federal Aviation Administration, allied foreign governments, and commercial customers and is based in McLean, Virginia. Sullivan & Cromwell LLP is serving as legal advisor to Harris Corporation. Jones Day served as legal advisor to Exelis.      

2/17/2015 Setouchi Trading, Inc. acquired Quest Aircraft Company LLC. The terms of the transaction were not disclosed. Setouchi Trading offers dealership services for Kodiak turboprops and is based in Tokyo, Japan. Quest Aircraft Company LLC engages in the design, manufacture, and marketing of aircraft for personal, commercial, amphibious, and specialty uses and is based in Sandpoint, Idaho.      

2/27/2015 Extant Components Group Holdings, Inc. agreed to acquire the SkyWatch® line of Traffic Advisory & Collision Avoidance Systems from L-3 Communications Avionics Systems, Inc. The terms of the transaction were not disclosed. Extant, along with its subsidiaries, engages in the development, manufacture, and support of electronics systems and components for use in various military and commercial aerospace applications and is based in Melbourne, Florida. L-3 Communications provides avionics, instruments, and systems for civilian and military aircraft and is based in Ft. Lauderdale, Florida.      

2/28/2015 Shimtech Industries Limited acquired Angeles Composite Technologies, Inc. (ACTI). The terms of the transaction were not disclosed. Shimtech manufactures and markets metallic and composite shim components to the commercial and military aerospace markets and is based in the United Kingdom. ACTI manufactures and supplies advanced structural composite assemblies and components serving commercial and military aerospace markets in the United States and internationally and is based in Port Angeles, Washington.      

3/1/2015 Science Applications International Corporation (NYSE:SAIC) entered into a definitive agreement to acquire Scitor Corporation for $790.0 million. SAIC provides technical, engineering, and enterprise information technology services in the United States and is based in McLean, Virginia. Scitor Corporation provides systems engineering, management consulting, and information services to customers in the aerospace industry in the United States including the Department of Defense and is based in Reston, Virginia. Arnold & Porter LLP served as legal advisor to SAIC. Latham & Watkins LLP served as legal advisor to Scitor.

3/2/2015 Metal Works Mfg. Co. acquired Ultra Machine & Fabrication, Inc. and Ultra Armoring LLC. The terms of the transaction were not disclosed. Metal Works is a newly formed subsidiary of Lincoln, Nebraska-based Universal Manufacturing Company, Inc. that manufactures electric fuel pumps, brake calipers, transfer cases, and transfer case shift motors for the automotive industry.  Metal Works is based in Shelby, North Carolina. Ultra Machine & Fabrication manufactures precision armor parts and weldments, and Ultra Armoring manufactures armored civilian and military vehicles. Ultra Machine & Fabrication and Ultra Armoring are based in Shelby, North Carolina.                                                                                 

3/12/2015 Avflight Corporation acquired GFK Flight Support, Inc. The terms of the transaction were not disclosed. Avflight is a fixed base operator headquartered in Freeland, Michigan. GFK Flight Support operates as a fixed base operator at the Grand Forks International Airport in North Dakota.      

3/23/2015 Loar Group, Inc. acquired SAF Industries, LLC. The terms of the transaction were not disclosed. Loar Group, through its subsidiaries, designs and manufactures aerospace components and is based in New York, New York. SAF manufactures aerospace hydraulic, pneumatic, mechanical, and electromechanical components to aircraft manufacturers and is based in Naugatuck, Connecticut.      

3/26/2015 Roller Bearing Company of America, Inc. entered into a purchase agreement to acquire Avborne Accessory Group, Inc., Sonic Industries, Inc., Sargent Aerospace & Defense LLC, and Sargent Aerospace Canada, Inc. from Dover Corporation for $500.0 million. Roller Bearing manufactures and distributes precision roller, ball, and plain bearings and is based in Fairfield, Connecticut. Avborne Accessory Group, doing business as Sargent Avborne, Inc., provides repair and overhaul services to the commercial and military aviation industry worldwide and is based in Miami, Florida. Sargent Aerospace & Defense designs, develops, and manufactures precision-engineered components for aerospace and defense sectors and is based in Tucson, Arizona. Sargent Aerospace Canada offers machining and assembling of complex metallic components for commercial and military aerospace markets in Canada and internationally and is based in Anjou, Canada. Sonic Industries manufactures fasteners for jetliners, military aircraft, and aerospace vehicles and is based in Torrance, California. Kirkland & Ellis LLP served as legal advisor to Roller Bearing.  Sidley Austin LLP served as legal advisor to Dover.      

3/26/2015 TransDigm Group Incorporated (NYSE:TDG) and TransDigm Germany GmbH agreed to acquire Telair International GmbH and Nordisk Aviation Products a.s. and AAR Manufacturing, Inc. for $725.0 million. TransDigm Group, through its subsidiaries, designs, produces, and supplies aerospace components for commercial and military aircraft customers in the United States and is based in Cleveland, Ohio. Telair designs, manufactures, and supports on-board baggage and cargo handling systems for wide and narrow body aircrafts and is based in Germany. Nordisk Aviation Products designs, manufactures, and sells air cargo pallets and containers and is based in Norway. AAR manufactures military mobility systems and equipment and is based in Wood Dale, Illinois. Allen & Gledhill; Baker & Hostetler LLP; King & Wood Mallesons LLP; and Magnusson Advokatbyrå AB served as legal advisors to TransDigm. Winston & Strawn LLP and Graf von Westphalen Bappert & Modest served as legal advisors to AAR.     M&A - Financial    

1/5/2015 The O'Neil Group Company, LLC announced the acquisition of Gnostech, Inc. The terms of the transaction were not disclosed.  The O'Neil Group is a principal investment company and is based in Colorado Springs, Colorado. Gnostech provides technical and engineering services to the Departments of the Defense and homeland security and is based in Warminster, Pennsylvania.        

2/5/2015 HDT Global, Inc. and Kanders & Company, Inc. acquired the business and assets of DHS Technologies LLC. The terms of the transaction were not disclosed. HDT Global designs and manufactures shelters, generators, heaters, air filtration devices, robotics, and other engineered technologies and is based in Solon, Ohio. Kanders & Company is a principal investment firm specializing in acquisition of public companies and is based in Stamford, Connecticut. DHS Technologies provides quick erect/strike mobile infrastructure systems and support equipment for military, medical, government, and civilian organizations around the world and is based in Orangeburg, New York.        

3/2/2015 Blue Wolf Capital Partners LLC along with the management team of North American Rescue acquired a majority stake in North American Rescue, LLC. The terms of the transaction were not disclosed. Blue Wolf Capital is a private equity firm based in New York, New York. North American Rescue develops and manufactures lifesaving medical/rescue solutions for war fighters, tactical healthcare professionals, law enforcement personnel, uniformed soldiers, first responders, and security forces and is based in Greer, South Carolina. Holland & Knight LLP served as legal advisor to Blue Wolf Capital.      

Private Placements    

1/14/2015 Multi-Voice Radio, LLC announced that it has received $5.0 million in a seed round of funding from OTTO Engineering, Inc. Multi-Voice Radio manufactures wireless intercoms for the defense industry and is based in Mapleton, Utah. OTTO Engineering designs and manufactures control switches and communication accessories and is based in Carpentersville, Illinois.

1/20/2015 Planet Labs Inc. received $95.0 million in a round of funding. Planet Labs, a space and analytics company, provides information about the changing planet through its fleet of earth imaging satellites and is based in San Francisco, California.

1/20/2015 Space Exploration Technologies Corp. announced that it has received $1 billion in a round of funding from Fidelity Investments, Google Ventures and others. Space Exploration Technologies designs, manufactures, and launches advanced rockets and spacecraft and is based in Hawthorne, California.

2/25/2015 3D Robotics Inc. received $50.0 million in funding from QUALCOMM Ventures. 3D Robotics develops, manufactures, and markets personal drones and unmanned aerial vehicle technology for exploration and business applications and is based in Berkeley, California.                                                                                 

3/4/2015 Cevians LLC announced that it has received funding from Stephens Capital Partners LLC. The terms of the transaction were not disclosed. Cevians provides light sciences, NVIS materials, optical filters, and lighting solutions and components to military and commercial aerospace, ground military, defense, industrial, and medical sectors worldwide and is based in Costa Mesa, California. Stephens Capital is the private equity arm of Stephens Inc. and is based in Little Rock, Arkansas.      

3/11/2015 Spaceflight Industries, Inc. received $20.7 million in an equity round of funding. Spaceflight Industries manufactures and offers small-satellite products and services and is based in Tukwila, Washington.      

3/19/2015 Vidder, Inc. received $12.0 million in a round of funding. Vidder designs and develops custom security solutions and is based in Campbell, California.      

3/31/2015 ECS Federal, Inc. announced that it has received an equity round of funding from new investor Lindsay Goldberg. The terms of the transaction were not disclosed. ECS Federal provides system engineering and information technology services and solutions to U.S. Federal Government agencies and is based in Fairfax, Virginia. Lindsay Goldberg is a private equity firm based in New York, New York.