Columbia West Capital News - Industry Deal Intelligence
11.11.15 CWC Q3 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  

8/6/2015 Aero 3, Inc. acquired Accessory Overhaul Group, Inc. The terms of the transaction were not disclosed. Accessory Overhaul Group will be integrated into Aero 3 and rebranded AeroRepair Corp. Aero 3 provides aircraft and accessory repair and overhauling services and is based in Cleveland, Ohio. AeroRepair provides a line of aircraft accessory overhaul and repair services and is based in Griffin, Georgia. Kohrman Jackson & Krantz PLL served as legal advisor to Aero 3.    

8/10/2015 Berkshire Hathaway Inc. (NYSE:BRK.A) entered into a definitive agreement to acquire Precision Castparts Corp. (NYSE:PCP) for $32.3 billion in cash. Berkshire Hathaway is a publicly owned investment manager and is based in Omaha, Nebraska. Precision Castparts manufactures and sells metal components and products to the aerospace, power, and general industrial and other markets worldwide and is based in Portland, Oregon. Munger, Tolles & Olson served as legal advisor to Berkshire Hathaway. Cravath, Swaine & Moore LLP and Stoel Rives LLP served as legal advisors to Precision Castparts.

8/19/2015 HEICO Corporation (NYSE:HEI) acquired 80.1% stake in Aerospace & Commercial Technologies Inc. The terms of the transaction were not disclosed. HEICO Corporation designs, manufactures, and sells aerospace, defense, and electronic related products and services and is based in Hollywood, Florida. Aerospace & Commercial Technologies produces and installs aircraft modification kits for F16 aircraft and is based in Fort Worth, Texas.    

8/24/2015 Flight Support Group, Inc. and Electronic Technologies Group, Inc. acquired Astroseal Products Manufacturing Corp. and 80.1% stake in Midwest Microwave Solutions Inc. The terms of the transaction were not disclosed. Flight Support Group offers aircraft maintenance services and is based in Sanford, Florida. Electronic Technologies engages in the design, manufacture and sale of electro-optical and electrically engineered products used in the aerospace, defense, electronics, medical and space industries and is based in Miami, Florida. Astroseal Products manufactures copper and aluminum lightning strike protection products for the aerospace industry and is based in Chester, Connecticut. Midwest Microwave Solutions designs, manufactures, and sells communications and electronic intercept receivers and tuners for military and intelligence applications and is based in Hiawatha, Iowa.

8/25/2015 Forecast International, Inc. acquired Barr Group Aerospace. The terms of the transaction were not disclosed. Forecast International provides market intelligence, forecasting, and research and consulting services for aerospace, defense, electronics, and power systems industries worldwide and is based in Newtown, Connecticut. Barr Group Aerospace, doing business as AeroWeb, develops a Web-based aerospace and defense market intelligence platform and is based in Newtown, Connecticut.

8/28/2015 ARCH Global Precision LLC acquired Smiths Machine LLC. The terms of the transaction were not disclosed. ARCH Global Precision manufactures and distributes precision machined components, cutting tools, and instruments and is based in Livonia, Michigan. Smiths Machine is engaged in the manufacture, processing, and assembly of precision machined parts for defense, aerospace, and other commercial industries and is based in Cottondale, Alabama.

9/10/2015 America Aero Group, LLC acquired majority stake in VAS Aero Services, LLC from H.I.G. Capital, LLC and others. The terms of the transaction were not disclosed. America Aero Group acquires and trades aftermarket aircraft and inventory and is based in Boca Raton, Florida. VAS Aero Services engages in sourcing, warehousing, and marketing aftermarket components of aircraft and engine platforms to airlines, leasing companies, and MRO providers worldwide and is based in Boca Raton, Florida. H.I.G. Capital is a private equity and venture capital firm based in Miami, Florida.                 

9/15/2015 Salient Federal Solutions, Inc. acquired CRGT, Inc. from Veritas Capital, Bridge Growth Partners, LLC and other shareholders in a merger of equals transaction. The terms of the transaction were not disclosed. Salient Federal Solutions provides information technology, engineering, and intelligence analytic services to clients in the intelligence, Department of Defense, homeland security, federal civilian, commercial, and state and local government sector markets and is based in Fairfax, Virginia. CRGT, a systems integrator, provides information management and technology services to defense, homeland security, intelligence, and federal civilian agencies and is based in Reston, Virginia. Veritas Capital and Bridge Growth Partners are private equity firms based in New York, New York. Kirkland & Ellis LLP and Morrison & Foerster, LLP served as legal advisors to Salient Federal Solutions. Willkie Farr & Gallagher LLP and Garvey Schubert & Barer served as legal advisors to CRGT. Schulte Roth & Zabel LLP served as legal advisor to Veritas Capital. Willkie Farr & Gallagher LLP and Garvey Schubert & Barer served as legal advisors to Bridge Growth Partners.    

9/16/2015 Lauren International, Ltd. acquired Theiss Aviation, Inc. The terms of the transaction were not disclosed. Lauren International engages in the manufacture of rubber extrusions and extruded and molded polymer sealing solutions and is based in New Philadelphia, Ohio. Theiss designs and manufactures homebuilt and ultralight aircraft for General Aviation and is based in North Benton, Ohio.    

9/22/2015 Meggitt Polymers & Composites Ltd. agreed to acquire EDAC Composites LLC from EDAC Technologies Corporation for $340.0 million in cash. Meggitt provides polyurethane manufactured fuel tanks for aircraft and helicopters for the United States military and commercial transport and general aviation markets and is based in Rockmart, Georgia. EDAC Composites manufactures and markets composites and components for aerospace and defense customers and is based in Erlanger, Kentucky. Hogan Lovells served as legal advisor to Meggitt. Kirkland & Ellis LLP served as legal advisor to EDAC Composites.    

9/23/2015 BBA Aviation plc (LSE:BBA) entered into an agreement to acquire Landmark Aviation, L.L.C. from The Carlyle Group LP (NasdaqGS:CG), AE Industrial Partners, LLC and others for $2.1 billion in cash. BBA Aviation provides aviation support and aftermarket services worldwide and is based in London, UK. Landmark Aviation operates a network of fixed base operations and is based in Houston, Texas. Sullivan & Cromwell LLP and Slaughter and May served as legal advisors to BBA Aviation. Latham & Watkins LLP, Jones Day and Zuckert, Scoutt and Rasenberger L.L.P. served as legal advisors to Landmark Aviation and The Carlyle Group.    

9/25/2015 Red Aviation LLC acquired DFW Instrument, LLC. The terms of the transaction were not disclosed. Red Aviation provides parts and services for aircraft customers worldwide and is based in Georgetown, Texas. DFW Instrument Corporation manufactures, repairs, and calibrates non-RVSM/RVSM pitot/static test equipment and other products and is based in Addison, Texas.    

9/30/2015 Safariland, LLC acquired 65% stake in Rogers Holster Company, LLC. The terms of the transaction were not disclosed. Safariland designs, engineers, researches, and delivers safety and survivability products for public safety, military, professional, and outdoor markets and is based in Ontario, Canada. Rogers Holster Company manufactures safety holsters, duty gear, and components and finished products for holsters and firearm accessories and is based in Jacksonville, Florida.  

M&A - Financial  

9/9/2015 Beijing Infrastructure Investment Co., Ltd. made a non-binding offer to acquire Bombardier Inc. (TSX:BBD.B). The terms of the transaction were not disclosed. Beijing Infrastructure Investment provides construction, administration, and investment of metros and is based in Beijing, China. Bombardier manufactures and sells transportation equipment worldwide and is based in Montréal, Canada.    

Private Placements  

8/27/2015 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 provides instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems and is based in Thousand Oaks, California. Chapman and Cutler served as legal advisor to Teledyne Technologies.    

9/30/2015 Skycatch, Inc. announced that it has received an equity round of funding from new investor Komatsu Ltd. The terms of the transaction were not disclosed. Skycatch offers an autonomous aerial data capture solution to construction, agriculture, mining, and solar industries and is based in San Francisco, California. Komatsu engages in the development, manufacture, marketing, and sale of various industrial-use products and services and is based in Tokyo, Japan.