Columbia West Capital News - Industry Deal Intelligence
08.28.17 CWC Q2 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  

4/5/2017 Florida Pneumatic Manufacturing Corporation acquired substantially all assets of Jiffy Air Tool, Inc. for $8.0 million. Florida Pneumatic Manufacturing manufactures and distributes air tools, pipe threading equipment, and intake compressor filters and is based in Jupiter, FL. Jiffy Air Tool designs and manufactures air tools for the aerospace industry and is based in Carson City, NV. Allison MacKenzie, Ltd. served as legal advisor to Jiffy Air Tool. Ruskin Moscou Faltischek, P.C. served as legal advisor to Florida Pneumatic Manufacturing.

4/11/2017 Buchanan & Edwards, Inc. acquired The Reports and Requirements Company (R2C) LLC. The terms of the transaction were not disclosed. Buchanan & Edwards provides information technology consulting services to federal, state, and local government clients in the United States and is based in Arlington, VA. The Reports and Requirements Company provides consulting services in intelligence collection, reporting, and analysis related to high priority national security concerns and is based in Fairfax, VA. Holland & Knight served as legal advisor to Buchanan & Edwards. Greenberg Traurig, LLP served as legal advisor to R2C.    

4/11/2017 Adcole Corporation acquired Maryland Aerospace, Inc. The terms of the transaction were not disclosed. Adcole designs and manufactures aerospace and industrial metrology products and gages and is based in Marlborough, MA. Adcole develops and manufactures space systems and components and is based in Crofton, MD. Shugarman Advisors served as legal advisor to Maryland Aerospace.    

4/18/2017 Craig Technologies Inc. acquired a 90% stake in Manufacturing Support Industries Inc. The terms of the transaction were not disclosed. Craig Technologies manufactures plastic components and is based in Seaford, DE. Manufacturing Support Industries provides manufacturing services for military avionics, ground and space vehicles, and weapons and medical instruments to aerospace, defense, and commercial industries and is based in Salisbury, MD.    

4/28/2017 Apollo Aerospace Components Limited acquired substantially all assets of Aero-Missile Components Inc. from Precision Aerospace Components, Inc. for $10.5 million. Apollo Aerospace Components supplies components and provides technical support to aerospace and defense industries in Europe, North and South America, and Asia and is based in Cradley Heath, United Kingdom. Aero-Missile Components, now known as PolyAero Inc., supplies military and aerospace fasteners supporting many government agencies along with prime contractors and their subcontractors and is based in Bensalem, PA. Precision Aerospace Components, now known as Amerinac Holding Corp., distributes nut and bolt products and a proprietary locking washer product that are used primarily for aerospace and military, and industrial/commercial applications and is based in Bensalem, PA.    

4/28/2017 Applied Research Associates, Inc. acquired Neya Systems, LLC. The terms of the transaction were not disclosed. Applied Research Associates manufactures solutions that tackle critical national problems for national security, infrastructure, energy and environment, and health sectors and is based in Albuquerque, NM. Neya Systems develops and integrates unmanned systems technologies for DoD and commercial markets and is based in Seven Fields, PA.    

4/30/2017 General Dynamics Mission Systems, Inc. acquired tactical cross domain technology and products from Advatech Pacific, Inc. The terms of the transaction were not disclosed. General Dynamics Mission Systems designs, develops, and manufactures secure communications systems, command and control systems, imagery sensors, and cyber products and is based in Fairfax, VA. Tactical Cross Domain Technology And Products of Advatech Pacific comprises the business operations that manufacture products for the aerospace and defense industry enabling communication among tactical networks operating with information classified at different security levels. Advatech Pacific is based in San Bernardino, CA.

5/8/2017 Belcan Corporation acquired Schafer Corporation. The terms of the transaction were not disclosed. Belcan provides engineering consultancy services and technical staffing solutions to a spectrum of industries around the world and is based in Cincinnati, OH. Schafer provides technology services and solutions to customers in aerospace, national security, and the private sector and is based in Arlington, VA.    

5/15/2017 Hosco Finishing LLC acquired Classic Precision Inc. Hosco Finishing designs and manufactures stainless steel fittings and accessories for manual and automated paint circulating and application finishing systems and is based in Livonia, MI. Classic Precision manufactures aerospace fuel delivery and combustion components for turbine engines and is based in Wixom, MI.    

5/19/2017 James Espino acquired the controlling ownership of Gnostech Inc. from Braxton Science & Technology Group LLC. The terms of the transaction were not disclosed. Gnostech provides technical and engineering services to the Departments of the Defense and homeland security and is based in Warminster, PA. Braxton Science & Technology Group provides command and control, data transport and security, environmental intelligence, and business intelligence and technical staffing solutions and is based in Colorado Springs, CO.

6/1/2017 Technetics Group LLC acquired Qualiseal Technology from QCC, LLC. Technetics Group designs, tests, and manufactures engineered components, seals, assemblies, and sub-systems for aerospace, semiconductor, oil and gas, nuclear, medical, land based turbines, valves, pharmaceutical, industrial, and other markets worldwide and is based in Columbia, SC. Qualiseal Technology designs and manufactures custom-engineered mechanical seals for aerospace applications and is based in Harwood Heights, IL. QCC specializes in precision machining, assembling, and testing products and machined components for OEMs and their suppliers worldwide and is based in Harwood Heights, IL.

6/1/2017 TransDigm Group Incorporated (NYSE:TDG) acquired three add-on aerospace product lines for $100.0 million. TransDigm Group designs, produces, and supplies aircraft components in the United States and is based in Cleveland, OH. The three add-on aerospace product lines comprise business operations that manufacture engineered aerospace controls, quick disconnect couplings, and communication electronics.

6/5/2017 Royal Adhesives & Sealants, LLC acquired ball ground aircraft sealant repackaging business assets from Graco Supply Company, Inc. The terms of the transaction were not disclosed. Royal Adhesives & Sealants manufactures and markets adhesives, sealants, encapsulants, and polymer coatings and is based in South Bend, IN. Ball Ground Aircraft Sealant Repackaging Business of Graco Supply Company Inc. comprises aircraft sealant repackaging business that provides local service, technical support, point of use packaging and just in time logistics. Graco Supply Company is engaged in the supply of adhesives, sealants, coatings, lubricants, tapes, and MRO products to aircraft and industrial markets and is based in Fort Worth, TX.

6/5/2017 Applied Research Associates, Inc. acquired Berriehill Research Corporation. The terms of the transaction were not disclosed. Applied Research Associates manufactures solutions that tackle critical national problems for national security, infrastructure, energy and environment, and health sectors and is based in Albuquerque, NM. Berriehill Research designs and develops antennas, computational electromagnetic, and RF measurements for the aerospace sector and is based in Dayton, OH.

6/6/2017 Elite Aerospace Group, Inc. acquired Halo Industries Inc. The terms of the transaction were not disclosed. Elite Aerospace Group is an aircraft component design, engineering, and manufacturing company based in Irvine, CA. Halo Industries engages in manufacturing of precision machined components for the aerospace industry and is based in Huntington Beach, CA.

6/13/2017 Pacific Architects and Engineers Incorporated acquired FCi Federal, Inc. The terms of the transaction were not disclosed. Pacific Architects and Engineers provides integrated services to support missions worldwide and is based in Arlington, VA. FCi Federal provides operations management and professional services to federal government agencies and is based in Leesburg, VA.

6/27/2017 Kellstrom Aerospace, LLC acquired Vortex Aviation Capital LLC. The terms of the transaction were not disclosed. Kellstrom Aerospace provides aftermarket spare parts and repair services for commercial and defense aerospace industries worldwide and is based in Miami Lakes, FL. Vortex Aviation offers repair, troubleshooting, and maintenance of turbine engine and aircraft and is based in Fort Lauderdale, FL.

6/27/2017 Zhejiang Geely Holding Group Co., Ltd. agreed to acquire Terrafugia, Inc. The terms of the transaction were not disclosed. Zhejiang Geely manufactures and markets automobiles and is based in Hangzhou, China. Terrafugia engages in designing, developing, manufacturing, and testing roadable aircraft and is based in Woburn, MA.  

M&A - Financial  

4/3/2017 Greenbriar Equity Group LLC and the management of Whitcraft LLC acquired a majority stake in Whitcraft LLC from Linsalata Capital Partners. The terms of the transaction were not disclosed. Whitcraft manufactures formed, machined, and fabricated sheet metal aerospace components and assemblies and is based in Eastford, CT.

4/30/2017 J.F. Lehman & Company, Inc. acquired BEI Precision Systems & Space Co. Inc. from Innovista Sensors Americas, Inc. The terms of the transaction were not disclosed. J.F. Lehman & Company is a private equity firm based in New York, NY. BEI Precision Systems & Space engages in designing, developing, manufacturing, and testing optical encoders, encoder and application based motion control components, and sub-systems for space, military, and commercial applications and is based in Maumelle, AR. Innovista Sensors designs, manufactures, and markets sensors, controls, and actuators and is headquartered in Westlake Village, CA. Jones Day and Miller & Chevalier served as legal advisors to J.F. Lehman. O'Melveny & Myers LLP served as legal advisor to Innovista Sensors.    

5/4/2017 West Star Aviation, Inc. acquired Dallas Aeronautical Services, LLC. The terms of the transaction were not disclosed. West Star Aviation provides maintenance, repair, and overhaul and related services to the business aviation industry and is based in Grand Junction, CO. Dallas Aeronautical Services offers repair and support services for corporate and commercial aircraft operations and is based in Cedar Hill, TX.    

5/11/2017 A group of investors acquired the assets of Supreme Group (USA) LLC from Supreme Group B.V. The terms of the transaction were not disclosed. The investor group was led by The GC Companies and included Valiant Integrated Services LLC and others. Valiant Integrated Services provides food, water, fuel, and other resources to remote outposts, enabling peacekeepers, relief workers, and emergency response teams for relief work and is based in McLean, VA. Supreme Group (USA) offers supply chain and associated service solutions, including food supply and food service, fuel supply, logistics, and site services to the US military sector and is based in Reston, VA. Supreme Group B.V. provides integrated supply chain solutions for defense, government, and commercial energy and extractives sector clients worldwide and is based in Amsterdam, the Netherlands.  

6/6/2017 P4G Capital Management, LLC acquired the assets of Fore Machine Company, Inc. In a related transaction, P4G Capital acquired the assets of Aero Components, Inc. The terms of the transaction were not disclosed. P4G Capital Management is a private equity firm based in San Francisco, CA. Fore Machine Company manufactures aerospace components and is based in Fort Worth, TX. Aero Components engages in the design, production, and supply of aircraft components and parts to Department of Defense, military, and aircraft customers and is based in Fort Worth, TX.  

Private Placements  

4/3/2017 Mannarino Systems & Software, Inc. announced that it has entered into an investment agreement with new investor Lockheed Martin Corporation (NYSE:LMT) for gross proceeds of $7.5 million. Mannarino Systems & Software provides safety-critical systems, software, and airborne electronic hardware engineering services to the aerospace, defense, space, simulation, and power generation industries and is based in Saint-Laurent, Canada. Lockheed Martin engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide and is based in Bethesda, MD.

4/5/2017 Zunum Aero Inc. announced that it has received a round of funding from a group of investors including JetBlue Technology Ventures and Boeing HorizonX. The terms of the transaction were not disclosed. Zunum Aero manufactures hybrid-to-electric aircraft and is based in Kirkland, WA. JetBlue Technology Ventures is a venture capital arm of JetBlue Airways Corporation and is based in Redwood City, CA. Boeing HorizonX is a venture capital arm of The Boeing Company.                 

5/3/2017 Capella Space Corp. announced that it has received $12.0 million in its Series A round of funding led by Spark Capital Partners, LLC. Capella Space Corp. offers satellite radar imaging information services from space with its constellation of satellites and is based in Palo Alto, CA. Spark Capital Partners is a venture capital and private equity firm based in Boston, MA.    

5/6/2017 Fortem Technologies, Inc. announced that it has received $5.5 million in its seed round of funding co-led by new investors Data Collective and Signia Venture Partners. Fortem Technologies develops and manufactures ultra-small SWaP-C radar for small manned aircrafts, as well as the data necessary for safe beyond line of sight (BLOS) unmanned aerial vehicles (UAV) operations and is based in Provo, UT. Data Collective is a venture capital firm based in Palo Alto, CA. Signia Venture Partners is a venture capital firm based in Menlo Park, CA.    

5/18/2017 Nanotech Security Corp. (TSXV:NTS) received $9.8 million in funding. Nanotech engages in the design and commercialization of security products and solutions and is based in Burnaby, Canada.    

5/22/2017 Echodyne, Inc. announced that it has raised $29.0 million in its Series B round of funding led by new investor, New Enterprise Associates. The funding round also included participation from existing investors, Bill Gates, Paul Allen, Madrona Venture Group, and other investors. Echodyne develops and markets metamaterials-based radar systems and is based in Bellevue, WA. New Enterprise Associates is a private equity and venture capital firm based in Menlo Park, CA. Madrona Venture Group is a venture capital firm based in Seattle, WA.    

6/8/2017 Tamarack Aerospace Group, Inc. announced that it will receive $10.0 million in funding. As of June 21, 2017, the company received $2.2 million in its first tranche from three investors. Tamarack Aerospace Group develops aerodynamic and structural improvements products for aircraft and is based in Sandpoint, ID.    

6/23/2017 Satellogic announced that it has received $27.0 million in its Series B round of funding led by returning investor Tencent Holdings Ltd. Satellogic builds and operates nano satellites for commercial-grade Earth observation in real-time and is based in Palo Alto, CA. Tencent Holdings is a venture capital firm based in Shenzhen, China.    

6/29/2017 Terranorbital Corporation announced that it has received $7.0 million in funding from Lockheed Martin Ventures. Terranorbital manufactures picosatellites, cubesats, and nanosatellites for government and commercial customers and is based in Irvine, CA.

6/29/2017 Vector Space Systems announced that is has received $21.0 million in its Series A round of funding led by new investor Sequoia Capital. Vector Space Systems develops a launch vehicle that provides access to space for satellites and is based in Tucson, AZ. Sequoia Capital is a private equity and venture capital firm based in Menlo Park, CA.