Columbia West Capital News - Industry Deal Intelligence
12.08.16 CWC Q3 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  

7/8/2016 DNV GL ENERGY acquired Green Power Monitoring Systems LLC. The terms of the transaction were not disclosed. DNV GL ENERGY operates a network of testing, inspection, and certification laboratories worldwide and is based in Arnhem, the Netherlands. Green Power Monitoring Systems develops health and usage monitoring systems for the civil helicopter market and is based in Essex Junction, VT.    

7/19/2016 The Ray Dennis Group of Companies acquired Horus Vision, LLC. The terms of the transaction were not disclosed. The Ray Dennis Group of Companies manufactures rifles for military, government, law enforcement, competition, hunting, and sporting markets and is based in Australia. Horus Vision manufactures reticles and scopes for long-range shooting devices and is based in San Bruno, CA.    

7/20/2016 Vector Space Systems acquired Garvey Spacecraft Corporation. The terms of the transaction were not disclosed. Vector Space Systems develops a launch vehicle that provides access to space for satellites and is based in Long Beach, CA. Garvey Spacecraft Corporation is an aerospace R&D company that focuses on the development of advanced space technologies and launch vehicle systems and is based in Long Beach, CA.                

7/31/2016 Accurus Aerospace Corporation has acquired ZTM, Inc. The terms of the transaction were not disclosed. Accurus manufactures and supplies machined parts, kits, and assemblies, as well as provides processing services for the aerospace and defense industry and is based in Irving, TX. ZTM manufactures and supplies metallic parts and assemblies for the aerospace industry worldwide and is based in Wichita, KS. Schulte Roth & Zabel LLP and Pillsbury Winthrop Shaw Pittman LLP served as legal advisors to Accurus. Stinson Leonard Street LLP served as legal advisor to ZTM.    

8/1/2016 John Bronson, Robert Knibb and B. Hagen Saville acquired Femme Comp Inc. The terms of the transaction were not disclosed. Femme Comp provides systems engineering and technical assistance solutions and advisory and assistance services and is based in Chantilly, VA.    

8/2/2016 Trijicon, Inc. acquired IR Defense Corporation. The terms of the transaction were not disclosed. Trijicon designs, develops, manufactures, and markets riflescopes and sights for hunting, military, law enforcement, competitive shooting, and personal protection applications worldwide and is based in Wixom, MI. IR Defense manufactures thermal viewing, aiming systems, and defense electronic products and is based in Auburn, CA.    

8/10/2016 Richter & Company LLC acquired the assets of Aerospace Analytics LLC. The terms of the transaction were not disclosed. Richter & Company provides market-based strategic research and consulting, and tactical analyses services and is based in Frederick, MD. Aerospace Analytics provides strategic market analysis and consulting services to the aerospace and defense industry and government and is based in Frederick, MD.    

8/18/2016 Aeronautical & GI Holdings Limited acquired Aircraft Appliances and Equipment Limited. The terms of the transaction were not disclosed. Aeronautical & GI Holdings, through its subsidiary, manufactures LED lighting systems for naval vessels, military and commercial aircraft, and military ground vehicles and is based in Worcester, United Kingdom. Aircraft Appliances and Equipment Limited engages in the design, manufacture, distribution, repair, and overhaul of equipment for aircraft and naval ships and is based in Brampton, Canada. Jones Day LLP, Blake, Cassels & Graydon LLP, and Miller & Chevalier Chartered served as legal advisors to Aeronautical & GI Holdings.    

8/26/2016 Smith & Wesson Holding Corporation (NasdaqGS:SWHC) acquired Crimson Trace Corporation for $95.0 million. Smith & Wesson manufactures and sells firearm products and accessories and is based in Springfield, MA. Crimson Trace develops, produces, and sells laser sighting products and tactical lights for shooters, including military and law enforcement, and defensive-minded citizens and is based in Wilsonville, OR. Greenberg Traurig, LLP served as legal advisor to Smith & Wesson. K&L Gates LLP served as legal advisor to Crimson Trace.    

9/6/2016 Southern Research Institute, Inc. acquired assets of Curved Skies. The terms of the transaction were not disclosed. Southern Research provides contract research services in the areas of drug discovery, preclinical drug development, advanced engineering, and environmental protection and is based in Birmingham, AL. Curved Skies provides research, identification, demonstration, and transition of technology in the areas of aerospace geospatial systems and is based in Alexandria, VA.    

9/7/2016 Aviation Technical Services, Inc. acquired Texas Pneumatic Systems, Inc. The terms of the transaction were not disclosed. Aviation Technical provides third-party transport aircraft maintenance, repair, and overhaul services for commercial and military transport aircraft in North America and is based in Everett, WA. Texas Pneumatic manufactures valves and pipe fittings for aircrafts, repairs heavy equipment, and services aircrafts and is based in Pantego, TX.    

9/14/2016 AAR Corp. (NYSE:AIR) acquired Sonic Aviation Inc. The terms of the transaction were not disclosed. AAR provides products and services to commercial aviation, government, and defense markets worldwide and is based in Wood Dale, IL. Sonic Aviation provides aircraft paint stripping and washing services and is based in Miami Springs, FL.    

9/15/2016 Avflight Corporation acquired JPS Aviation. The terms of the transaction were not disclosed. Avflight provides full-service FBO operations, fueling services for commercial and military aviation, charter flight services, aircraft and avionics maintenance and services, aircraft parts department, and hangar space and rentals and is based in Freeland, MI. JPS Aviation, now known as Avflight Monroe, is the sole fixed-base operator for the Monroe Regional Airport in Monroe, LA.    

9/16/2016 KBR Holdings, LLC acquired Honeywell Technology Solutions Inc. from Honeywell International Inc. (NYSE:HON) for $300.0 million. KBR operates as an engineering, construction, and services company worldwide and is based in Houston, TX. Honeywell Technology Solutions provides management, space systems and services, engineering, logistics, information technology, and testing and calibration solutions and is based in Columbia, MD. Honeywell International operates as a diversified technology and manufacturing company worldwide and is based in Morris Plains, NJ. Hogan Lovells US LLP served as legal advisor to KBR. Cravath, Swaine & Moore LLP served as legal advisor to Honeywell International.    

9/19/2016 Mobile Aircraft Services acquired Coleman MRO PBI, LLC. The terms of the transaction were not disclosed. The combined company has been named Infinity Aircraft Services with headquarters at Palm Beach International Airport. Mobile Aircraft Services provides aircraft professional maintenance services and support and is based in West Palm Beach, FL. Coleman offers maintenance, repair, and overhaul services for the aviation sector and is based in West Palm Beach, FL.  

9/30/2016 Orizon Aerostructures Inc. acquired Chanute Operations from Spirit AeroSystems Holdings, Inc. (NYSE:SPR). The terms of the transaction were not disclosed. Orizon manufactures and supplies parts and subassemblies for commercial aerospace, military fixed wing, rotorcraft, missile/ground support, and general aviation manufacturers and suppliers and is based in Owasso, OK. Chanute Operations comprises an aerospace manufacturing facility. Spirit AeroSystems through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide and is based in Wichita, KS.  

M&A - Financial  

7/12/2016 AE Industrial Partners acquired Moeller Aerospace Technology, Inc. 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. Moeller manufactures precision components for aircrafts and is based in Harbor Springs, MI. Kirkland & Ellis LLP served as the legal advisor to AE Industrial Partners. Honigman Miller Schwartz and Cohn LLP served as legal advisor to Moeller.

7/26/2016 Platte River Equity III, L.P. acquired CTS Engines, LLC from Palm Beach Capital and Neff Capital Management LLC. The terms of the transaction were not disclosed. Platte River is a private equity firm in Denver, CO. CTS Engines provides maintenance, repair, overhaul, and testing services for owners and operators of early stage commercial jet engines and is based in Fort Lauderdale, FL. Palm Beach Capital is a private equity firm based in Tampa, FL. Neff Capital is a private equity firm based in Miami, FL. Bartlit Beck Herman Palenchar & Scott served as legal advisor to Platte River. Alvarez Arrieta & Diaz-Silveira LLP served as legal advisor to CTS Engines. Akerman LLP served as legal advisor to Palm Beach and Neff Capital.    

8/11/2016 Odyssey Investment Partners, LLC acquired Aero Precision Industries (API), Inc. and certain related aviation services businesses from Greenwich AeroGroup, Inc. and W.R. Berkley Corporation (NYSE:WRB). The terms of the transaction were not disclosed. Odyssey is a private equity firm based in New York, NY. Aero Precision supplies original equipment manufacturer components for military aircraft operators in the United States and internationally and is based in Livermore, CA. Greenwich AeroGroup offers general, business, commercial, rotorcraft, and military aircraft services and is based in Wichita, KS. W.R. Berkley is a commercial lines property casualty insurance provider and is based in Greenwich, CT.    

9/12/2016 Golden Gate Capital acquired Tronair, Inc. from Levine Leichtman Capital Partners. The terms of the transaction were not disclosed. Golden Gate is a private equity and venture capital firm and is based in San Francisco, CA. Tronair designs, manufactures, and distributes aircraft ground support equipment for the aerospace industry worldwide and is based in Holland, OH. Levine Leichtman is a private equity and venture capital firm based in Beverly Hills, CA. Kirkland & Ellis LLP served as legal advisor to Tronair and Levine Leichtman.

9/26/2016 Acorn Growth Companies acquired Raisbeck Engineering, Inc. The terms of the transaction were not disclosed. Acorn Growth is a private equity and venture capital firm based in Oklahoma City, OK. Raisbeck designs, develops, and markets performance improvement systems for business and commercial jet-powered aircraft and is based in Seattle, WA.  

Private Placements  

7/8/2016 Relativity Space, Inc. announced that it will receive $9.6 million in a round of funding. As of July 18, 2016, the company has received $8.4 million from 25 investors in its first tranche. Relativity Space manufactures orbital rockets and is based in Seattle, WA.    

8/25/2016 Engineered Propulsion Systems, Inc. announced that it will receive $10.0 million in funding. As of August 26, 2016, the company has received $700,000 from a single investor in its first tranche closing. Engineered Propulsion manufactures diesel aircraft engines and is based in New Richmond, WI.    

9/6/2016 XTI Aircraft Company announced that it will receive $20.0 million in its brokered Series B round of funding from an undisclosed syndicate of investors. XTI manufactures vertical takeoff airplanes and is based in Englewood, CO.  

9/12/2016 Eyewitness Surveillance LLC has received a round of funding from new investor LLR Partners Inc. The terms of the transaction were not disclosed. Eyewitness Surveillance provides interactive remote surveillance solutions for assisting the United States Coast Guard for protecting ports and seas and is based in Annapolis, MD. LLR Partners is a private equity firm and is based in Philadelphia, PA.