Columbia West Capital News - Industry Deal Intelligence
09.01.16 CWC Q2 2016 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  

4/6/2016 Winchester Electronics Corporation acquired SRI Connector Gage Company. The terms of the transaction were not disclosed. Winchester Electronics designs, develops, and deploys interconnect technology solutions and is based in Middlebury, CT. SRI Connector Gage manufactures and sells radio frequency microwave interconnect products and interface gages for defense and commercial applications and is based in Melbourne, FL.    

4/12/2016 Jacobs Engineering Group Inc. (NYSE:JEC) acquired The Van Dyke Technology Group, Inc. The terms of the transaction were not disclosed. Jacobs Engineering Group provides technical, professional, and construction services to various industrial, commercial, and governmental clients and is based in Pasadena, CA. The Van Dyke Technology Group is an information systems engineering company headquartered in Columbia, MD. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor to Jacobs Engineering.    

4/20/2016 Reiser Simulation and Training GmbH acquired Innovative Control Systems, LP. The terms of the transaction were not disclosed. Reiser is based in Berg, Germany and provides training services for pilots and aircraft technicians and manufactures training and simulation technology and systems. Innovative Control Systems develops data acquisition components and equipment for aerospace companies and suppliers and is based in Phoenix, Arizona.    

5/2/2016 TUG Technologies Corporation acquired the assets and business of Premier Engineering & Manufacturing Inc. The terms of the transaction were not disclosed. TUG Technologies manufactures and markets aviation ground support equipment and is based in Kennesaw, GA. Premier Engineering & Manufacturing manufactures aircraft deicers and is based in Marinette, WI.    

5/5/2016 Textron Inc. (NYSE:TXT) announced that it acquired Airborne Tactical Advantage Company, LLC. The terms of the transaction were not disclosed. Textron operates in aircraft, defense, industrial, and finance businesses worldwide and is based in Providence, RI. Airborne Tactical provides outsourced civilian tactical airborne training services and is based in Newport News, VA.

5/9/2016 Federal Resources Supply Company acquired KD Analytical Consulting, Inc. The terms of the transaction were not disclosed.  Based in Harrisburg, Pennsylvania, KD Analytical provides customized training/support to the chemical, biological, radiological, and nuclear defense (CBRNE) community in the United States. Federal Resources Supply of Hartford, Connecticut sells safety and homeland security products for military and marine needs online. Offit Kurman, Attorneys At Law served as legal advisor to KD Analytical.

5/10/2016 Tyonek Services Group, Inc. acquired the Avionics System Integration facility in Stennis, MS from SELEX Galileo Inc. The terms of the transaction were not disclosed. Tyonek provides aviation maintenance and cyber warfare support services and is based in Madison, AL. Headquartered in Arlington, Virginia, SELEX Galileo manufactures and markets defense electronics.    

5/11/2016 Alliance Spacesystems LLC acquired Vanguard Space Technologies. The terms of the transaction were not disclosed. Alliance Spacesystems designs and manufactures composite structures for spacecraft and other high-tech applications and is based in Los Alamitos, CA. Vanguard Space Technologies engineers, manufactures, assembles, and tests aerospace structures and is based in San Diego, CA.    

5/11/2016 Fab2Order, Inc. acquired Winners Circle Engineering Inc. The terms of the transaction were not disclosed. Fab2Order is a metal fabrication company that cuts, forms, and welds metal components and is based in Brownsburg, IN. Winners Circle Engineering provides precision machining parts and solutions for customers worldwide and is based in Monrovia, IN.    

5/17/2016 KLX Inc. (NasdaqGS:KLXI) acquired Herndon Aerospace & Defense Company for $210.0 million. KLX, together with its subsidiaries, distributes aerospace fasteners and consumables and provides logistics services for the commercial, business jet, and military markets worldwide and is headquartered in Wellington, FL. Herndon Aerospace & Defense is based in O'Fallon, MO and distributes commercial and defense supply chain management solutions to the U.S. Government, domestic, and international companies.    

5/25/2016 Air Tractor, Inc. acquired Hangar78UAV, LLC. The terms of the transaction were not disclosed. Hangar 78 UAV manufactures unmanned aerial system and is based in Fort Worth, TX. Air Tractor manufactures and distributes agricultural aircraft and is based in Olney, TX.    

6/1/2016 Aerostar Aerospace Manufacturing, Inc. acquired D.L. Horton Enterprises, Inc. dba Warmelin Precision Products. The terms of the transaction were not disclosed. Aerostar manufactures and markets industrial equipment and is based in Phoenix, AZ. Warmelin manufactures and markets precision machining products and assemblies for the aerospace and defense industries and is based in Hawthorne, CA.    

6/9/2016 Astro Pak Corporation acquired Chemko Technical Services, Inc. The terms of the transaction were not disclosed. Astro Pak provides precision cleaning and passivation services and is based in Costa Mesa, CA. Chemko provides precision cleaning, testing, and fabrication services and is based in Mims, FL.     

6/13/2016 Xator Corporation acquired TSM Corporation. The terms of the transaction were not disclosed. Xator provides security, intelligence, and information technology solutions to government and its support contractors in the United States and internationally and is based in Destin, FL. TSM provides training, engineering, and logistics support services to the U.S. government customers and is based in Bartlett, TN.    

6/15/2016 Applied Industrial Technologies, LP acquired Seals Unlimited. The terms of the transaction were not disclosed. Applied Industrial Technologies distributes industrial products for manufacturing and maintenance operations of businesses in various industry segments and is based in Saskatoon, Canada. Seals Unlimited manufactures and supplies seals and gaskets for various applications and is based in Burlington, Canada.     

6/23/2016 TransDigm Group Inc. agreed to acquire ILC Industries, LLC for $1.0 billion in cash. Through the acquisition, TransDigm will acquire Data Device Corporation. TransDigm designs, produces, and supplies engineered aircraft components for use in commercial and military aircraft worldwide and is based in Cleveland, OH. ILC Industries, along with its subsidiaries, manufactures data bus, motion control, and solid-state power controller products for aerospace and defense industries and is based in Bohemia, NY. Baker & Hostetler LLP served as legal advisor to TransDigm. Latham & Watkins LLP served as legal advisor to Data Device Corporation.    

6/28/2016 FLIR Systems, Inc. (NasdaqGS:FLIR) acquired Armasight, Inc. for $41.0 million. FLIR Systems designs, develops, manufactures, and markets thermal imaging, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions and is based in Wilsonville, OR. Armasight provides night vision and advanced infrared thermal imaging solutions, direct view binoculars, illumination tools, and other precision optics and is based in San Francisco, CA.    

6/30/2016 Stabilus S.A. (DB:STM) agreed to acquire Kaydon Corporation from SKF AB (OM:SKF B) for $339.0 million. Stabilus manufactures and sells gas springs, hydraulic dampers, and electric tailgate opening and closing equipment and is based in Luxembourg. Kaydon engages in the design, manufacture, and sale of custom engineered, performance-critical products and is based in Ann Arbor, MI. SKF manufactures and sells bearings and units, seals, lubrication systems, and mechatronics and services and is based in Gothenburg, Sweden. White & Case LLP and CMS Hasche Sigle served as legal advisors to Stabilus. Reed Smith LLP served as legal advisor to SKF.    

6/30/2016 Raytheon Company (NYSE:RTN) agreed to acquire the remaining 50% stake in Thales-Raytheon Systems Company LLC from Thales SA (ENXTPA:HO).  In parallel, Thales SA will acquire the remaining 50% stake in TRS SAS. As a result of this transaction, Raytheon made a cash payment of $90.0 million to Thales. Raytheon develops technologically integrated products, services, and solutions worldwide and is based in Waltham, MA. Thales-Raytheon Systems develops air operation command and control systems, surveillance radars, ground-based weapon-locating radars, and battlefield radars and is based in Fullerton, CA. Thales S.A. provides various solutions for customers in the aerospace, space, defense, security, and transportation markets and is based in Paris, France.    

M&A - Financial  

4/28/2016 Norwest Equity Partners acquired West Star Aviation, Inc. The terms of the transaction were not disclosed. Norwest Equity Partners is a private equity and venture capital firm based in Minneapolis, MN. West Star Aviation provides maintenance, repair, and overhaul and related services to the business aviation industry and is based in Grand Junction, CO. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Norwest Equity Partners.    

5/28/2016 Summit Equity Group, LLC along with management of Standard Components Incorporated acquired Standard Components Incorporated. The terms of the transaction were not disclosed. Summit Equity Group is a private equity firm based in Des Moines, IA. Standard Components engages in the design, manufacture, and certification of checking fixtures, holding fixtures, gages, and assembly tooling for automotive, aerospace, and defense industries and is based in Sterling Heights, MI.    

5/19/2016 AE Industrial Partners acquired AC&A, LLC.  The terms of the transaction were not disclosed. AE Industrial Partners is a principal investment firm that seeks to invest in the aerospace, power generation, and specialty industrial markets and is based in Boca Raton, FL. AC&A designs, develops, and fabricates composite and metallic parts and tooling for the aeronautical, defense, space, engineering, automotive, assemblies, green energy, and entertainment markets and is based in Lake Forest, CA. Kirkland & Ellis LLP served as legal advisor to AE Industrial Partners. The Law Office of Ron R. Goldie served as legal advisor to AC&A.  

6/30/2016 KBR, Inc. (NYSE: KBR) agreed to acquire Wyle, Inc. for $600.0 million. KBR is based in Houston, Texas. KBR is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries and is based in Houston, TX. Wyle provides specialized engineering, professional, scientific, and technical services primarily to the U.S. federal government and is based in El Segundo, CA. Dechert LLP served as legal advisor to Wyle. Hogan Lovells US LLP served as legal advisor to KBR.    

Private Placements  

4/27/2016 uAvionix Corporation announced that it has received $5.0 million in its Series A round of funding led by new investor Playground Global, LLC and including participation from other investors. uAvionix manufactures automatic dependent surveillance-broadcast transceivers, receivers, and navigation tools to avoid flight collisions for drones and is based in Palo Alto, CA. Playground Global is an accelerator and venture capital firm based in Palo Alto, CA.    

4/28/2016 Vision Technologies Systems, Inc. announced that it has received $66.0 million in an equity round of funding including participation from returning investor Singapore Technologies Engineering Ltd. Vision Technologies provides engineering solutions, integrated systems, and services for aerospace, electronics, land systems, and marine sectors and is based in Alexandria, VA. Singapore Technologies Engineering provides engineering and related services worldwide and is based in Singapore.    

5/24/2016 Avenger Flight Group, LLC announced that it has received $13.0 million in funding from Seacoast Capital, new investor Patriot Capital, and management of the company. Avenger Flight Group is an aviation training company based in Fort Lauderdale, FL. Seacoast Capital is a private equity firm based in Danvers, MA. Patriot Capital is a private equity and venture capital firm based in Baltimore, MD.  

6/6/2016 Oxford Performance Materials Inc. announced that it will receive $25.9 million in an equity round of funding with participation from new investor Hexcel Corp. Oxford Performance Materials develops and commercializes biomedical polymers, biomedical devices, and industrial parts and is based in South Windsor, CT. Hexcel, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets and is based in Stamford, CT.