Columbia West Capital News - Industry Deal Intelligence
02.20.17 CWC Q4 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

10/3/2016 Carlisle Interconnect Technologies Inc. acquired Star Aviation, Inc. The terms of the transaction were not disclosed. Carlisle Interconnect designs, manufactures, and distributes wire and cable products and is based in St. Augustine, FL. Star Aviation operates as an aircraft engineering, certification, and technical services firm and is based Mobile, AL.

10/10/2016 Addev S.A.S. acquired VMS Aircraft Company Inc. The terms of the transaction were not disclosed. Addev specializes in the design, processing, and distribution of high performance and customized solutions for the materials industry and is based in Lyon, France. VMS operates as an international supplier of aviation and aerospace consumables and is based in San Diego, CA.

10/21/2016 HCL America Inc. agreed to acquire Butler America Aerospace, LLC from Butler America, Inc. for $85.0 million. HCL America provides consulting and information technology (IT) services and is based in Sunnyvale, CA. Butler America Aerospace provides engineering, information technology, aftermarket, business process outsourcing, application development, staffing, health care, and fleet services and is based in Santa Barbara, CA. Butler America, Inc. provides technical outsourcing and staff augmentation services and is based in Shelton, CT.

10/23/2016 Rockwell Collins Inc. (NYSE:COL) agreed to acquire B/E Aerospace Inc. (NasdaqGS:BEAV) for $8.4 billion. Rockwell Collins designs, produces, and supports communications and aviation systems and is based in Cedar Rapids, IA. B/E Aerospace designs, manufactures, sells, and services cabin interior products for commercial aircraft and business jets and is based in Wellington, FL. Skadden, Arps, Slate, Meagher & Flom served as legal advisor to Rockwell Collins. Shearman & Sterling LLP served as legal advisor to B/E Aerospace.

10/25/2016 Precision Castparts Corp. acquired Atlantic Precision Inc. The terms of the transaction were not disclosed. Precision Castparts is a manufacturer and seller of metal components and products to the aerospace, power, and general industrial markets and is based in Portland, OR. Atlantic Precision is an aerospace machining, design, and build facility based in Port St. Lucie, FL.

11/1/2016 EDAC Technologies Corporation acquired Flanagan Industries Limited Partnership. The terms of the transaction were not disclosed. EDAC provides design, manufacturing, and services for tooling, fixtures, molds, jet engine components, and machine spindles and is based in Farmington, CT. Flanagan Industries, doing business as Flanagan Brothers, Inc., manufactures and supplies aerospace and land-based gas turbine components to customers in the aerospace market and is based in Glastonbury, CT.

11/1/2016 The Heico Companies, LLC acquired Costello/April Design, Inc. The terms of the transaction were not disclosed. The Heico Companies operates manufacturing, construction, and industrial services businesses and is based in Chicago, IL. Costello/April Design, doing business as C/A Design, manufactures heat exchangers and avionics enclosures for aerospace customers and is based in Dover, NH.

11/7/2016 ESCO Technologies Inc. (NYSE:ESE) acquired Mayday Manufacturing Co. and Hi-Tech Metals Inc. from Tailwind Technologies Inc. The terms of the transaction were not disclosed. ESCO produces and supplies engineered products and systems for utility, industrial, aerospace, and commercial applications and is based in St. Louis, MO. Mayday produces precision machined components for commercial aerospace and military aircraft applications and is based in Denton, TX. Hi-Tech Metals provides plating and metal finishing services and is based in Denton, TX. Tailwind Technologies Inc. designs and manufactures aircraft propeller systems for the general aviation industry and is based in Piqua, Ohio.

11/10/2016 National Response Corporation acquired Boom Technology, Inc. The terms of the transaction were not disclosed. National Response provides environmental, industrial, and emergency response solutions and is based in Great River, NY. Boom manufactures supersonic transport aircrafts to provide passenger flights for business travel and is based in Englewood, CO.

11/16/2016 DigitalGlobe, Inc. (NYSE:DGI) agreed to acquire The Radiant Group, Inc. for $140.0 million. DigitalGlobe provides earth-imagery products and services sourced from their own satellite constellation and third-party providers and is based in Westminster, CO. The Radiant Group provides technical solutions and systems engineering and services to defense and government sector and is based in Chantilly, VA. O'Melveny & Myers LLP served as legal advisor to DigitalGlobe. DLA Piper LLP (US) served as legal advisor to The Radiant Group.

11/21/2016 Abaco Systems Inc. acquired 4DSP LLC. The terms of the transaction were not disclosed. Abaco provides open architecture computing and electronic systems for aerospace, defense, and industrial applications and is based in Huntsville, VA. 4DSP engages in the design and manufacture of commercial off-the-shelf (COTS) board-level electronics, field programmable gate arrays (FPGA) intellectual property (IP Core), and system level solutions primarily for defense and aerospace organizations and is based in Austin, TX.

11/22/2016 Celestica Inc. (TSX:CLS) entered into an agreement to acquire assets of Karel Manufacturing. The terms of the transaction were not disclosed. Celestica provides supply chain solutions to customers in the communications, consumer, aerospace and defense, industrial, healthcare, energy, semiconductor equipment, servers, and storage end markets and is based in Toronto, ON. LORENZ, INC., doing business as Karel Manufacturing, manufactures harness and wiring products, assemblies and sub-assemblies, and sheet metal products for aerospace and commercial applications and is based in Calexico, CA.

11/28/2016 1096777 B.C. Ltd. agreed to acquire IWG Technologies Inc. (TSXV:IWG) for $12.5 million. 1096777 provides oil and gas exploration and production services and is based in British Columbia. IWG Technologies designs, manufactures, sells, and services potable water treatment equipment, on-demand water heaters, and water systems for aviation customers and is based in Burnaby, BC. McMillan LLP served as legal advisor to 1096777. McCullough O'Connor Irwin LLP served as legal advisor to IWG.

12/2/2016 Huntington Ingalls Industries, Inc. (NYSE:HII) agreed to acquire Camber Corporation for $380.0 million. Huntington designs, builds, overhauls, and repairs ships primarily for the U.S. Navy and the U.S. Coast Guard and is based in Newport News, VA. Camber provides engineering and technical services, cyber operations technology, mission critical support services, and training solutions and is based in Huntsville, AL.

12/5/2016 The Angelus Corporation acquired CertifyNation. The terms of the transaction were not disclosed. Angelus is a manufacturer of aerospace and defense products and is based in Sussex, WI. CertifyNation provides aerospace engineering design services for the commercial aviation industry based in Elmhurst, IL.

12/6/2016 Advanced Core Concepts, LLC acquired International Logistics Group, LLC. The terms of the transaction were not disclosed. Advanced Core provides engineering and technical support, logistics, sustainment, acquisition support, foreign military sales support, and information technology solutions and is based in Warner Robins, GA. International Logistics provides engineering and technical support, logistics and information technology solutions and is based in Warner Robins, GA.

12/6/2016 Satcom Direct, Inc. agreed to acquire TrueNorth Avionics, Inc. The terms of the transaction were not disclosed. Satcom Direct provides global communications services, support, and technology to business and general aviation, military, government, emergency response, media, and other industries and is based in Melbourne, FL. TrueNorth Avionics engages in designing, developing, and manufacturing satellite communication solutions for business jets and avionics OEMs and is based in Ottawa, ON. Davies Ward Phillips & Vineberg LLP served as legal advisor to Satcom Direct.

12/7/2016 Curtiss-Wright Controls Defense Solutions agreed to acquire Teletronics Technology Corporation for $230.0 million. Curtiss-Wright develops rugged electronic modules and systems for defense applications and is based in Ashburn, VA. Teletronics provides engineering, system integration, and high technology products and is based in Newtown, PA. Duane Morris LLP served as legal advisor to Teletronics.

12/13/2016 Wanfeng Aviation (Canada) Inc. acquired a 60% stake in Diamond Aircraft Industries Inc. The terms of the transaction were not disclosed. Wanfeng Aviation operates as a subsidiary of Wanfeng Auto Holding Group Co., Ltd which is based in Xinchang, China. Diamond Aircraft manufactures and supplies personal and business aircraft and is based in London, ON.

12/15/2016 Advanced Integration Technology, LP acquired KUKA Systems Aerospace North America from KUKA Aktiengesellschaft (DB:KU2). The terms of the transaction were not disclosed. Advanced Integration is an industrial automation and tooling company that delivers turnkey factory integration services and is based in Plano, TX. KUKA Systems provides robotic technologies and automation solutions and is based in Clinton Township, MI.

12/15/2016 Marana Aerospace Solutions, Inc. agreed to acquire Ascent Aviation Services. The terms of the transaction were not disclosed. Marana provides aircraft maintenance, repair, overhaul, and storage services and is based in Marana, AZ. Ascent provides heavy maintenance, repair, and overhaul (MRO) services to owners, operators, and lessors of narrow body aircraft and is based in Tucson, AZ.

12/22/2016 Advanced Integration Technology, LP acquired an unknown stake in Nova-Tech Engineering, Inc. The terms of the transaction were not disclosed. Advanced Integration is an industrial automation and tooling company that delivers turnkey factory integration services and is based in Plano, TX. Nova-Tech designs and manufactures product handling systems for the aerospace industry and is based in Lynnwood, WA.

12/22/2016 Med-Eng Holdings ULC entered into an arrangement agreement to acquire Pacific Safety Products Inc. (TSXV:PSP) for $11.9 million. Med-Eng manufactures protective products and equipment primarily for law enforcement and military markets and is based in Ottawa, ON. Pacific Safety Products designs, produces, sells, and supports armor solutions for the defense and public security markets and is based in Arnprior, ON. Blake, Cassels & Graydon LLP served as legal advisor to Med-Eng. Wildeboer Dellelce LLP served as legal advisor to Pacific Safety Products.

12/29/2016 Dynetics, Inc. acquired the remaining stake in Aviation & Missile Solutions, LLC. The terms of the transaction were not disclosed. Dynetics designs, develops, tests, manufactures, deploys, and supports technology products and services for national security, satellite, launch, automotive, cybersecurity, and critical infrastructure sectors and is based in Huntsville, AL. Aviation & Missile Solutions provides engineering solutions to the aerospace and defense industry and is based in Huntsville, AL.

12/21/2016 United Flexible, Inc. acquired Lakes Region Tubular Products, Inc. The terms of the transaction were not disclosed. United Flexible designs, develops, and manufactures engineered solutions for the transfer of fluids and gases in extreme environments and is based in Romeoville, IL. Lakes Region Tubular Products manufactures and distributes tube assembly components for aircraft and aerospace industries and is based in Laconia, NH.

M&A - Financial

12/7/2016 The Gores Group LLC agreed to acquire The Triumph Group Operations, Inc., Triumph Engines - Tempe and APU Overhaul Operations from Triumph Group, Inc. (NYSE:TGI) and Triumph Aviation Services Asia, Ltd. The terms of the transaction were not disclosed. The Gores Group is a private equity firm based in Los Angeles, CA. The Triumph Group Operations provides repair and overhaul services for auxiliary power units (APU) and related accessories for airlines. Triumph Engines - Tempe designs, manufactures, repairs, and overhauls aftermarket aerospace components and provides repair services. APU Overhaul Operations comprises overhaul operations. Triumph Group, Inc. designs, engineers, manufactures, repairs, overhauls, and distributes aero structures, aircraft components, accessories, subassemblies, and systems worldwide and is based in Berwyn, PA.

Private Placements

10/13/2016 Industrial SkyWorks Inc. announced that it has received a round of funding from Georgian Angel Network and other investors. The terms of the transaction were undisclosed. Industrial Skyworks provides unmanned aerial system data and image collection, technical analysis, and image modeling services for industrial and commercial markets and is based in Toronto, ON. Georgian Angel Network connects investors in Georgian Triangle with entrepreneurs and is based in Blue Mountains, ON.

10/21/2016 Genesys Aerosystems Group, Inc. announced that it has received funding from new investor McNally Capital, LLC. The terms of the transaction were not disclosed. Genesys Aerosystems provides avionics solutions and technology for rotorcraft and fixed wing aircrafts and is based in Mineral Wells, TX. McNally Capital is an investment firm based in Chicago, IL.

11/10/2016 Cape Analytics Inc. announced that it has received $14.0 million in a round of funding led by Formation8 Partners and including participation from other new investors. Cape Analytics provides geospatial structured data such as satellite and aerial imagery for real estate markets and is based in Silicon, CA. Formation8 is a venture capital firm based in San Francisco, CA.

12/21/2016 Mission Ready Services Inc. (TSXV:MRS) announced that it has received $7.5 million in a round of funding from Alumina Partners LLC. Mission Ready provides cleaning, logistics, maintenance, program management, consulting, and client representation solutions and is based in Vancouver, BC. Alumina Partners is a venture capital firm based in New York, NY.

12/30/2016 Moon Express Inc. announced that it has received $5.0 million in funding from an undisclosed investor. Moon Express is a commercial space company based in Cape Canaveral, FL.