Columbia West Capital News - Industry Deal Intelligence
01.30.18 CWC Q4 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

10/2/2017 Polaris Alpha acquired Solidyn Solutions, Inc. The terms of the transaction were not disclosed. Polaris Alpha provides technical capabilities, specialized domain expertise and other solutions to the Department of Defense (DoD) and Intelligence Community (IC) customers and is based in Fredericksburg, VA. Solidyn Solutions offers information technology consulting services to the aerospace & defense industry and is based in Greenwood Village, CO.

10/10/2017 J.A. King and Company Inc. acquired Trace 1 Calibrations. The terms of the transaction were not disclosed. J.A. King and Company provides distribution, installation, repair and related engineering services for precision measurement instruments and is based in Greensboro, NC. Trace 1 Calibrations provides calibration, repair, testing and inspection services to aerospace & defense companies and is based in Tulsa, OK.

10/12/2017 Wencor Group, LLC acquired Fortner Engineering & Manufacturing, Inc. The terms of the transaction were not disclosed. Wencor Group provides design, distribution and repair solutions for airlines, repair stations, OEMs, personal aircraft and the military and is based in Peachtree City, GA. Fortner Engineering & Manufacturing provides hydraulic component maintenance, repair and overhaul aftermarket services and is based in Glendale, CA.

10/16/2017 Airbus SE (ENXTPA:AIR) agreed to acquire 50.1% of the single aisle aircraft program C Series Aircraft, LP from Bombardier Inc. Bombardier and Investissement Québec will own approximately 31% and 19%, respectively. The transaction is expected to close in the second half of 2018. Airbus provides aeronautical and flight-related products and services and is based in Toulouse, France. The C Series Aircraft division is based in Quebec, Canada.

10/18/2017 Aviation Avionics and Instruments Inc. acquired Scott Instrument Company. The terms of the transaction were not disclosed. Aviation Avionics and Instruments supplies and offers maintenance and repair work for aviation instruments and is based in Freeport, NY. Scott Instrument Company repairs and overhauls aircraft instruments and is based in Prescott, AZ.

10/24/2017 ACR Electronics, Inc. agreed to acquire SkyTrac Systems Ltd. from Roynat Equity Partners. The terms of the transaction were not disclosed. ACR Electronics designs and manufactures rescue beacons and survival gear for marine, aviation, outdoor and military markets and is based in Fort Lauderdale, FL. SkyTrac Systems develops and commercializes flight following, flight data and communication technology solutions and is based in Kelowna, Canada.

11/1/2017 AC&A, LLC acquired Applied Composites Engineering Inc. The terms of the transaction were not disclosed. AC&A designs, develops and fabricates parts for industrial companies and is based in Lake Forest, CA. Applied Composites Engineering provides aviation maintenance, repair and overhaul services and is based in Indianapolis, IN.

11/2/2017 Jackson Hole Airport Board agreed to acquire all assets of Jackson Hole Aviation, LLC for $26.0 million. Jackson Hole Airport Board provides security screening services at airports and is based in Jackson, WY. Jackson Hole Aviation provides airport services, such as maintenance, hanger and parking services and is based in Jackson, WY.

11/6/2017 Radiant Power Corporation acquired Interface Displays & Controls, Inc. The terms of the transaction were not disclosed. Radiant Power designs and manufactures custom power supplies, inverters and lighting controls for aviation applications and is based in Sarasota, FL. Interface Displays & Controls provides electronic control and display solutions and external aviation lighting for military and commercial platforms and is based in Oceanside, CA.

11/8/2017 Structural Monitoring Systems PLC (ASX:SMN) agreed to acquire Anodyne Electronics Manufacturing Corporation for $7.9 million. Structural Monitoring Systems develops and commercializes structural health monitoring technology and is based in Claremont, Australia. Anodyne Electronics Manufacturing designs and manufactures electronics for aerospace companies and is based in Kelowna, Canada.

11/8/2017 The Boeing Company (NYSE:BA) agreed to acquire Aurora Flight Sciences Corporation. The terms of the transaction were not disclosed. The Boeing Company designs, develops, manufactures, sells, services and supports various aircraft and is based in Chicago, IL. Aurora Flight Sciences develops and manufactures unmanned aerial vehicles and is based in Manassas, VA.

11/13/2017 General Atomics Corp. acquired assets of Surrey Satellite Technology US LLC. The terms of the transaction were not disclosed. General Atomics develops technology solutions for energy, environmental and defense companies and is based in San Diego, CA. The assets of Surrey Satellite Technology US comprise manufacturing and integrating facilities which are located in the US.

12/1/2017 Tronair, Inc. acquired Malabar International Inc. The terms of the transaction were not disclosed. Tronair designs, manufactures and distributes aircraft ground support equipment for aerospace companies and is based in Holland, OH. Malabar International manufactures and supplies ground support equipment for aircraft maintenance and is based in Simi Valley, CA.

12/11/2017 Belcan Corporation acquired the aerospace and industrial equipment division of CDI Corporation. The terms of the transaction were not disclosed. Belcan Corporation provides engineering and consulting services to a broad range of industries and is based in Cincinnati, OH. The aerospace & industrial equipment division of CDI Corporation comprises engineering solutions, recruitment solutions and staffing contracts and is based in Philadelphia, PA.

12/12/2017 Raisbeck Engineering, Inc. agreed to acquire Butterfield Industries, Inc. The terms of the transaction were not disclosed. Raisbeck Engineering designs, develops and markets performance improvement systems for commercial aircraft and is based in Seattle, WA. Butterfield Industries manufactures airplane parts and equipment and is based in Meridian, ID.

12/15/2017 Hexcel Corporation (NYSE:HXL) agreed to acquire the A&D business of Oxford Performance Materials Inc. The terms of the transaction were not disclosed. Hexcel Corporation develops, manufactures and markets structural materials for industrial companies and is based in Stamford, CT. The A&D business of Oxford Performance Materials sells thermoplastics and carbon fiber reinforced 3D printed parts to A&D companies and is based in South Windsor, CT.

12/22/2017 AC&A, LLC acquired EnCore Composite Structures, Inc. from EnCore Aerospace LLC. The terms of the transaction were not disclosed. AC&A designs, develops, and fabricates parts for various industrial markets and is based in Lake Forest, CA. EnCore Composite Structures designs and manufactures components for aerospace companies and is based in Brea, CA.

M&A - Financial

11/14/2017 Arlington Capital Partners LP acquired Cadence Aerospace, LLC. The terms of the transaction were not disclosed. Arlington Capital Partners is a private equity firm based in Chevy Chase, MD. Cadence Aerospace manufactures components and assemblies and provides repair services for aerospace manufacturers and is based in Newport Beach, CA.

Private Placements

10/19/2017 Spaceflight Industries, Inc. announced that it will receive $150.7 million in a round of funding. As of 11/3/2017, the company received $25.0 million from 17 investors in its first tranche. Spaceflight Industries manufactures space products and offers related services and is based in Seattle, WA.

10/19/2017 Near Earth Autonomy, Inc. announced that it received $8.0 million in a round of funding led by investor Boeing HorizonX. Near Earth Autonomy develops autonomous systems that promote the safety of ground and aerial vehicles and is based in Pittsburgh, PA.

10/25/2017 Ursa Space Systems Inc. announced that it received $6.9 million in a round of funding including investors New Enterprise Associates, Paladin Capital Group and RRE Ventures LLC. Ursa Space Systems provides geospatial services using radar satellite imagery and is based in Ithaca, NY.

11/13/2017 Natilus Inc. announced it closed a second round of seed funding. The transaction included participation from new investors Seraph Group, Gelt VC, Outpost Capital and Draper Associates, and existing investor Starburst Accelerator. Natilus manufactures aircraft drones used for freight forwarding and is based in San Jose, CA.

11/17/2017 Ursa Major Technologies, Inc. announced that it has received $8.0 million in funding from 16 investors. Ursa Major Technologies manufactures propulsion solutions for the microsatellite and nanosatellite launch market and is based in Berthoud, CO.

12/5/2017 Boom Technology, Inc. announced that it has received $10.0 million in a round of funding from Japan Airlines Co., Ltd (TSE:9201). Boom Technology manufactures supersonic passenger aircraft and is based in Centennial, CO.

12/11/2017 Ouster, Inc. announced that it has received $27.0 million in a round of funding led by Cox Enterprises, Inc. The transaction also included participation from Fontinalis Partners, LLC, Carthona Capital, Constellation Technology Ventures, Tao Capital Partners and Amity Ventures, LLC. Ouster develops sensors and software products for robotics and computer vision applications and is based in San Francisco, CA.

12/22/2017 An undisclosed investor has acquired a stake in Discovery Air Defence Services, Inc. (TSX:DA.A). The terms of the transaction were not disclosed. Discovery Air Defense Services provides combat airborne training services to the Canadian Armed Forces and is based in Dorval, Canada.