Columbia West Capital News - Industry Deal Intelligence
12.07.17 CWC Q3 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  

7/5/2017 Smith & Wesson Corp. agreed to acquire substantially all of the assets of Gemini Technologies, Inc. The terms of the transaction were not disclosed. Smith & Wesson manufactures firearm safety and security products and is based in Springfield, MA. Gemini Technologies designs and manufactures firearm silencers and sound suppressors and is based in Boise, ID.    

7/5/2017 National Technologies Associates, Inc. acquired V1 Analytical Solutions LLC. The terms of the transaction were not disclosed. National Technologies Associates provides technical support services to government clients and is based in Arlington, VA. V1 Analytical Solutions provides intelligence and information solutions, special activity support, and specialized training for defense, intelligence, and other government customers and is based in Arlington, VA.    

7/7/2017 Ultra Electronics Holdings plc (LSE:ULE) agreed to acquire Sparton Corporation (NYSE:SPA) for $310.3 million. Ultra Electronics, together with its subsidiaries, provides electronic and software solutions for the defense and aerospace, security and cyber, transport, and energy markets and is based in Greenford, United Kingdom. Sparton, together with its subsidiaries, provides design, development, and manufacturing services for electromechanical devices; and engineered products in electromechanical value stream worldwide and is based in Schaumburg, IL. Mayer Brown LLP served as legal advisor to Sparton. Arnold & Porter Kaye Scholer LLP served as legal advisor to Ultra Electronics Holdings plc.    

7/7/2017 DAE Aviation Holdings, Inc. agreed to acquire Vector Aerospace Corporation from Airbus SE (ENXTPA:AIR). The terms of the transaction were not disclosed. DAE Aviation offers maintenance, repair, and overhaul of engines for business and regional jets and is based in Tempe, AZ. Vector Aerospace provides aviation maintenance, repair, and overhaul services and is based in Toronto, Canada. Airbus, through its subsidiaries, provides aeronautics, space, and related products and services worldwide and is based in Leiden, the Netherlands.    

7/18/2017 Sierra Peaks Corporation acquired assets of Mechtronic Solutions Inc. The terms of the transaction were not disclosed. Sierra Peaks provides engineering, design, prototyping, and fabrication/manufacturing services for electromechanical systems and is based in Albuquerque, NM. Mechtronic Solutions designs, analyzes, and builds airborne technical packages, aerospace test systems, laboratory apparatus for government and private sector customers, data acquisition systems, scientific instruments, iron bird test systems, and more and is based in Albuquerque, NM.    

7/20/2017 Crosman Corporation acquired the commercial business from LaserMax Corp. The terms of the transaction were not disclosed. Crosman Corporation designs and manufactures airguns and other related products for hunting, recreation, and competitive shooting and is based in Bloomfield, NY. LaserMax manufactures laser sight systems for military, law enforcement agencies, and commercial markets worldwide and is based in Rochester, NY.

7/24/2017 B&E Group, LLC along with Rafael Fuentes and Ann Justiz, Founders of Safe Fuel Systems, acquired Safe Fuel Systems. The terms of the transaction were not disclosed. B&E Group manufactures aerospace components and assemblies and is based in Southwick, MA. Safe Fuel Systems offers testing, repair, overhaul, and modification of fuel systems, hydraulics, and accessories and is based in Hialeah, Florida.

7/26/2017 Amphenol Corporation (NYSE:APH) acquired Meggitt (Maryland) Inc. and Piezotech LLC and Piher Sensors & Controls SA from Meggitt PLC (LSE:MGGT) for $111.5 million. Amphenol, together with its subsidiaries, engages in the design, manufacture, and marketing of electrical, electronic, and fiber optic connectors and is based in Wallingford, CT. The three sensor-related businesses comprise sensor manufacturing business operations. Meggitt designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets and is based in Christchurch, United Kingdom.

8/5/2017 Airframes Alaska LLC acquired Performance STOL, LLC. The terms of the transaction were not disclosed. Airframes Alaska is an aviation fabrication and engineering company that manufactures tailwheels, landing gear, lift struts, wheels and brakes, fuselages, and other parts for the aviation industry and is based in Chugiak, AK. Performance STOL designs and manufactures double-slotted flap systems for PA-18s, Backcountry Super Cubs, Javron Cubs, and other experimental Cub-style aircraft and is based in Chugiak, AK.

8/21/2017 Clarus Corporation (NasdaqGS:CLAR) acquired all membership interests in Sierra Bullets, L.L.C. for $79.0 million. Clarus designs, manufactures, and markets outdoor engineered equipment and apparel for climbing, mountaineering, backpacking, skiing, and various other outdoor recreation activities in the United States and internationally and is based in Salt Lake City, UT. Sierra Bullets engages in the manufacture and sale of bullets for shooters in the United States and internationally and is based in Sedalia, MO. Kane Kessler, P.C. served as legal advisor to Clarus.

8/30/2017 Braxton Science & Technology Group LLC acquired Ingenicomm, Inc. The terms of the transaction were not disclosed. Braxton Science & Technology, through its subsidiaries, provides command and control, data transport and security, environmental intelligence, and business intelligence and technical staffing solutions in the United States and is based in Colorado Springs, CO. Ingenicomm engages in the architecture, implementation, and deployment of satellite ground systems and is based in Chantilly, VA. Sparks Wilson P.C. served as legal advisor to Braxton Science & Technology. Holland & Knight LLP served as legal advisor to Ingenicomm.

9/1/2017 Strata-G Solutions, Inc. agreed to acquire WestWind Group, Inc. The terms of the transaction were not disclosed. Strata-G provides engineering, design and integrated hardware solutions for rotary wing, fixed wing, unmanned, missile and ground systems to various Department of Defense (DoD), federal and commercial customers and is based in Huntsville, AL. WestWind Group operates as a holding company which, through its subsidiaries, provides engineering, manufacturing, warehousing, distribution, and support services to the aerospace and aviation sector and is based in Huntsville, AL.

9/4/2017 United Technologies Corporation (NYSE:UTX) agreed to acquire Rockwell Collins, Inc. (NYSE:COL) for $30.9 billion. United Technologies provides technology products and services to building systems and aerospace industries worldwide and is based in Farmington, CT. Rockwell Collins designs, produces, and supports communications and aviation systems worldwide and is based in Cedar Rapids, IA. Wachtell, Lipton, Rosen & Katz; Crowell & Moring; and Cleary Gottlieb Steen & Hamilton LLP served as legal advisors to United Technologies. Skadden, Arps, Slate, Meagher & Flom served as legal advisor to Rockwell Collins.

9/5/2017 Patriot Defense Group, LLC acquired Silverback7, Inc. The terms of the transaction were not disclosed. Patriot Defense Group provides defense contracting services and logistics in support of government clients and is based in Tucson, AZ. Silverback7 provides customized training, exercise development, and multi-discipline analytical services to the defense industry and is based in Woodbridge, VA.  

9/8/2017 L3 Technologies, Inc. (NYSE:LLL) acquired Adaptive Methods, Inc. The terms of the transaction were not disclosed. L3 Technologies provides aerospace systems, and communication and electronic systems and products used on military and commercial platforms in the United States and internationally and is based in New York, NY. Adaptive Methods, a systems engineering company, delivers undersea warfare and anti-submarine warfare (ASW) capabilities for U.S. military customers and is based in Centreville, VA.

9/14/2017 L3 Technologies, Inc. (NYSE:LLL) acquired Doss Aviation, Inc. The terms of the transaction were not disclosed. L3 Technologies provides aerospace systems, and communication and electronic systems and products used on military and commercial platforms in the United States and internationally and is based in New York, NY. Doss Aviation provides aviation flight training, aircraft maintenance, and aviation logistics services to the United States army and other federal agencies and is based in Colorado Springs, CO.

9/14/2017 Kencoa Aerospace LLC acquired Heart of Georgia Metal Crafters, LLC. The terms of the transaction were not disclosed. Kencoa Aerospace manufactures machined and sheetmetal fabricated aerostructures, jet engine components, and assemblies for commercial, military, and business aircraft worldwide and is based in Eastman, GA. Heart of Georgia Metal Crafters is a supplier of precision machined and sheetmetal fabricated components for the aerospace industry and is based in Eastman, GA.

9/18/2017 Northrop Grumman Corporation (NYSE:NOC) agreed to acquire Orbital ATK, Inc. (NYSE:OA) for $9.4 billion. Northrop Grumman is a security company that provides systems, products, and solutions in autonomous systems and is based in Falls Church, VA. Orbital ATK develops and produces aerospace, defense, and aviation-related products to the U.S. Government, allied nations, prime contractors, and other customers in the United States and internationally and is based in Dulles, VA. Cravath, Swaine & Moore LLP served as legal advisor to Northrop. Hogan Lovells US LLP served as legal advisor to Orbital ATK.

9/18/2017 All Metals Processing of Orange County, Inc. acquired Triumph Processing - Embee Division, Inc. from Triumph Group, Inc. (NYSE:TGI). The terms of the transaction were not disclosed. All Metals Processing provides metal finishing and inspection services to aerospace, military, and defense industries and is based in Stanton, CA. Triumph Processing - Embee Division provides metal-finishing, inspection, and testing services primarily for commercial and military aerospace applications and is based in Santa Ana, CA. Triumph Group designs, engineers, manufactures, repairs, overhauls, and distributes aero structures, aircraft components, accessories, subassemblies, and systems worldwide and is based in Berwyn, PA.

9/19/2017 AAR Corp. (NYSE:AIR) agreed to acquire two aircraft maintenance, repair and overhaul facilities from Premier Aviation Overhaul Center, Inc. located at Trois-Rivières Airport in Québec and Windsor International Airport in Ontario. All employees will be retained by AAR Corp., a Wood Dale, IL-based provider of products and services to commercial aviation, government, and defense markets worldwide.

9/20/2017 IXI Technology Electronic Warfare, LLC acquired Icarus Technologies, Inc. The terms of the transaction were not disclosed. IXI Technology designs, manufactures, and supports shipboard electronic warfare system which provides electronic support and countermeasure protection for U.S. and international navies and is based in Yorba Linda, CA. Icarus Technologies manufactures electronic warfare products and is based in Long Beach, CA.

9/28/2017 Schenck Corporation agreed to acquire Test Devices Inc. The terms of the transaction were not disclosed. Schenck manufactures dynamic balancing equipment, vibration analyzers, condition monitoring systems, laser alignment apparatus, PI, VAD, NVH test systems, and leak and test systems and is based in Deer Park, NY. Test Devices develops and manufactures rotational testing systems and equipment and is based in Hudson, MA.

Private Placements

8/2/2017 Citadel Defense Company announced that it has received $12.0 million in its Series A round of funding from a single investor. Citadel Defense Company develops drone management solutions and is based in National City, CA.

8/23/2017 Advanced Aircraft Company announced that it has received a round of funding that included participation from new investor CIT GAP Funds; a fund managed by The Center for Innovative Technology, Endowment Arm and members of The Charlottesville Angel Network. Advanced Aircraft Company operates as an aeronautical engineering and aircraft manufacturing company and is based in Hapton, VA.

8/29/2017 Astranis Space Technologies Corp. announced that it will receive $13.5 million in funding. As of September 7, 2017, the company received $13.5 million in its first tranche from 10 investors. Astranis Space Technologies manufactures small, low-cost telecommunications satellites and is based in San Francisco, CA.

9/1/2017 Elite Aerospace Group, Inc. announced that it will receive $7.0 million in a round of funding. On October 13, 2017, Elite Aerospace Group closed the transaction. The transaction included participation from 24 investors. Elite Aerospace Group is an aircraft component design, engineering, and manufacturing company and is based in Irvine, CA.

9/15/2017 Ocean Aero, Inc. announced that it has received a round of funding that included participation from new investor Lockheed Martin Ventures. Ocean Aero is an unmanned systems company that designs, develops, and manufactures unmanned autonomous underwater vehicle solutions for military, scientific, academic, commercial, government, security, and oil and gas communities around the world and is based in San Diego, CA. Lockheed Martin Ventures is the venture capital arm of Bethesda, Maryland-based Lockheed Martin Corporation.