Columbia West Capital News - Industry Deal Intelligence
06.12.17 CWC Q1 2017 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

1/3/2017 Airborne Maintenance & Engineering Services, Inc. acquired PEMCO World Air Services, Inc. The terms of the transaction were not disclosed. Airborne Maintenance & Engineering Services, a subsidiary of Air Transport Services Group, Inc., provides aircraft maintenance, repair, and overhaul services for airlines and operators and is based in Wilmington, OH. PEMCO provides aircraft maintenance, modification, and engineering services for air carriers and is based in Tampa, FL. Morgan, Lewis & Bockius LLP served as legal advisor to PEMCO. Vorys, Sater, Seymour & Pease LLP served as legal advisor to Air Transport Services Group.

1/3/2017 Macaulay-Brown, Inc. acquired Enlighten IT Consulting Inc. The terms of the transaction were not disclosed. Macaulay-Brown provides engineering services and product solutions to the Department of Defense, Intelligence Community, Special Operations Forces, Department of Homeland Security, and federal agencies and is based in Dayton, OH. Enlighten IT provides mission critical IT services to the Department of Defense, the intelligence community, and other government and commercial organizations and is based in Linthicum Heights, MD.    

1/3/2017 VOR Technology, LLC acquired Sintel Group Inc. The terms of the transaction were not disclosed. VOR Technology provides mission-critical defense intelligence and analysis solutions and is based in Hanover, MD. Sintel Group provides mission-critical defense intelligence and analysis solutions and is based in Columbia, MD. Offit Kurman served as legal advisor to VOR Technology.    

1/26/2017 ZEV Technologies Inc. agreed to acquire Mega Arms, LLC. The terms of the transaction were not disclosed. ZEV designs, manufactures, and sells replacement parts for glock triggers and is based in Oxnard, CA. Mega Machine Shop, Inc., doing business as Mega Arms LLC, manufactures firearm weapons for left and right handed shooters and is based in Centralia, WA.    

1/27/2017 Meyer Tool, Inc. acquired AMK Technical Services from Air Industries Group (AMEX:AIRI) for $6.0 million. Meyer Tool manufactures hot section components for aerospace and industrial gas turbine engines and is based in Cincinnati, OH. AMK provides welding and machining services to diversified aerospace and industrial customers and is based in South Windsor, CT. Air Industries Group designs and manufactures structural parts and assemblies that focus on flight safety and is based in Hauppauge, New York. Graydon Head & Ritchey LLP served as legal advisor to Meyer Tool. Eaton & Van Winkle, LLP served as legal advisor to Air Industries Group.    

2/1/2017 AIM Aerospace, Inc. acquired Quatro Composites, LLC. AIM Aerospace designs, manufactures, and supplies composite ducting, sub structural, and interiors parts for airlines and original equipment manufacturers and is based in Renton, WA. Quatro Composites is engaged in the design, manufacture, and distribution of aerospace, defense, medical, and industrial advanced composite components and is based in Orange City, IA. Nyemaster Goode, P.C. served as legal advisor to Quatro.    

2/2/2017 Analytic Services Inc. agreed to acquire Advanced Technology International for $40.0 million. Analytic Services is a research institute that provides objective studies and analyses to national security, homeland security, and other selected public policy communities and is based in Falls Church, VA. Advanced Technology builds and leads technology development collaborations and is based in Summerville, SC. Holland & Knight LLP served as legal advisor to Analytic Services.    

2/17/2017 Sonaca S.A. entered into a merger agreement to acquire LMI Aerospace, Inc. (NasdaqGS:LMIA) for $430.9 million. Sonaca designs, develops, manufactures, assembles, and tests aerospace structures for civil, military, and space markets and is based in Gosselies, Belgium. LMI Aerospace provides structural assemblies, kits and components, and design engineering services to the aerospace and defense markets and is based in St. Charles, MO. Gibson, Dunn & Crutcher LLP and Polsinelli PC served as legal advisors to LMI. Arnold & Porter Kaye Scholer LLP and Husch Blackwell LLP served as legal advisors to Sonaca.    

2/17/2017 Aernnova Aerospace S.A. agreed to acquire Brek Manufacturing Company. The terms of the transaction were not disclosed. Aernnova designs, manufactures, and markets aerostructures and components and is based in Alava, Spain. Brek manufactures machined parts and sub-assemblies for the aerospace industry and is based in Gardena, CA.    

2/24/2017 Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) acquired Coleman Aerospace from L3 Technologies, Inc. (NYSE:LLL) for $15.0 million. Aerojet Rocketdyne provides propulsion and energetics to space, missile defense, strategic, tactical missile, and armament areas and is based in El Segundo, CA. Coleman is a systems engineering and integration provider based in Orlando, FL. L3 Technologies provides aerospace systems, and communication and electronic systems and products used on military and commercial platforms and is based in New York, NY.    

2/24/2017 SSL MDA Holdings, Inc. entered into a definitive merger agreement to acquire DigitalGlobe, Inc. (NYSE:DGI) for $3.5 billion. SSL MDA Holdings offers operational solutions to commercial and government organizations worldwide and is based in San Francisco, CA. DigitalGlobe provides earth-imagery, data, and analysis and is based in Westminster, CO. O'Melveny & Myers LLP; Richards, Layton & Finger, P.A.; and Blake, Cassels & Graydon LLP served as legal advisors to DigitalGlobe.     

3/8/2017 The KEYW Corporation agreed to acquire Sotera Defense Solutions, Inc. for $235.0 million. KEYW provides mission-critical cybersecurity and cyber superiority solutions to defense, intelligence, and national security agencies in the United States and is based in Hanover, MD. Sotera Defense Solutions is a security technology company that provides technology-based systems, solutions, and services for national security agencies and programs of the U.S. government and is based in Herndon, VA. Holland & Knight LLP and Morrison & Foerster LLP served as legal advisors to KEYW Corporation. Proskauer Rose LLP served as legal advisor to Sotera Defense Solutions.    

3/8/2017 Flight Support Group, Inc. agreed to acquire an 80.1% stake in Air Cost Control USA, LLC. The terms of the transaction were not disclosed. Flight Support Group provides aviation services and is based in Sanford, FL. Air Cost Control distributes electrical parts for the aerospace industry and is based in Fort Lauderdale, FL.    

3/20/2017 Aircraft Recycling International Limited acquired Universal Asset Management, Inc. The terms of the transaction were not disclosed. Aircraft Recycling provides integrated disassembly and recycling solutions for airlines, MROs, lessors, and parts trading companies and is based in Admiralty, Hong Kong. Universal Asset Management specializes in aviation capital acquisitions/distressed asset management/surplus inventory acquisitions and management/technical sales/rotable lease programs and is based in Memphis, TN.    

3/24/2017 Constant Aviation, LLC acquired StarPort USA, Inc. The terms of the transaction were not disclosed. Constant Aviation provides aircraft maintenance, repair, overhaul, and modification services and is based in Cleveland, OH. StarPort provides aircraft maintenance support services for aviation clients and is based in Sanford, FL.  

3/28/2017 Harlow Aerostructures LLC entered into an asset purchase agreement to acquire substantially all of the assets of Aerospace Holdings, Inc. for $16.1 million. Harlow Aerostructures designs, manufactures, and supplies complex machined components, and electro-mechanical and structural subassemblies and is based in Wichita, KS. Aerospace Holdings, Inc., doing business as GroupAero, provides product manufacturing services primarily to the aerospace industry and is based in New York, NY. Greenberg Traurig, LLP served as legal advisor to Aerospace Holdings and Loeb & Loeb LLP served as legal advisor to Harlow Aerostructures.  

M&A - Financial  

1/2/2017 Admiralty Partners, Inc. acquired Integral Aerospace, LLC from General Electric Company (NYSE:GE). The terms of the transaction were not disclosed. Admiralty Partners is a private equity firm based in Los Angeles, CA. Integral Aerospace manufactures flight subsystems and components for military and commercial aircraft and is based in Santa Ana, CA. General Electric Company operates as an infrastructure and technology company worldwide and is based in Boston, MA.    

1/11/2017 Odyssey Investment Partners, LLC acquired a majority stake in Avtron Aerospace, Inc. The terms of the transaction were not disclosed. Odyssey Investment Partners is a private equity firm based in New York, NY. Avtron Aerospace provides aerospace test system technologies and products for aircraft componentry in commercial and military aviation markets and is based in Cleveland, OH.  

2/8/2017 Soaring Pine Capital Management acquired ETI Tech, Inc. The terms of the transaction were not disclosed. Soaring Pine Capital is a private equity and real estate investment firm based in Birmingham, MI. ETI Tech designs and manufactures electro-mechanical flight hardware and ground support equipment and is based in Tipp City, OH.  

Private Placements  

1/11/2017 DSC Trading, LLC announced that it will receive $10.0 million in funding. DSC Trading supplies expendable and consumable aviation related parts to airlines, maintenance facilities, and parts distributors and is based in Pembroke Pines, FL. As of 1/18/2017, the company received $5.0 million in its first tranche from 17 investors.    

1/13/2017 Moon Express Inc. announced that it has received $20.0 million in its Series B-1 round of funding with participation from new and existing investors. Moon Express, a commercial space company, manufactures a series of robotic spacecraft that are sent to the Moon for ongoing exploration and commercial development and is based in Huntsville, AL.    

1/31/2017 AM General LLC announced that it has received $30.0 million in a round of funding with participation from Triangle Capital Corporation (NYSE:TCAP). AM General, along with its subsidiaries, designs, engineers, manufactures, supplies, and supports specialized vehicles for military and commercial customers and is based in South Bend, IN. Triangle Capital is a business development company based in Raleigh, NC.    

3/1/2017 Sintavia, LLC announced that it has received $15.0 million in its Series B round of funding from existing investor Neff Capital Management. Sintavia is a metal additive manufacturing company and is based in Davie, FL. Neff Capital Management is a private equity firm based in Miami, FL.  

3/22/2017 Boom Technology, Inc. announced that it has received $33.0 million in its Series A round of funding from Caffeinated Capital, Eight Partners, and other investors. Boom Technology manufactures supersonic passenger aircrafts and is based in Centennial, CO. Caffeinated Capital and Eight Partners are venture capital firms based in San Francisco, California.