Columbia West Capital News - Industry Deal Intelligence
09.10.18 CWC Q2 2018 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

3/28/2018 Aero Structures Long Island, Inc. acquired Triumph Structures-Long Island, LLC from Triumph Group, Inc. (NYSE:TGI). The terms of the transaction were not disclosed. Triumph Structures-Long Island and Aero Structures Long Island manufacture structural and dynamic parts and assemblies for commercial and military aerospace programs and are based in Westbury, NY. Triumph Group designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide and is based in Berwyn, PA. Stradley Ronon Stevens & Young, LLP served as legal advisor to Triumph Group.

3/30/2018 The Day & Zimmermann Group, Inc. acquired Sunrise Beach Corporation, dba M2 Services Corporation. The terms of the transaction were not disclosed. M2 Services provides aviation and heavy vehicle maintenance, modification, painting, component repair, and overhaul services and is based in Mckinney, TX. The Day & Zimmermann Group provides construction and engineering, staffing, and defense services for corporations and governments and is based in Philadelphia, PA.

3/31/2018 Aviation Technical Services, Inc. acquired American Cooler Service, Inc. The terms of the transaction were not disclosed. American Cooler Service provides repair and overhaul services for commercial and regional aircraft and APU applications and is based in Arlington, TX. Aviation Technical Services provides third-party transport aircraft maintenance, repair, and overhaul services for commercial and military transport aircraft and is based in Everett, WA.

4/3/2018 Bromford Industries Limited acquired AeroCision, LLC. The terms of the transaction were not disclosed. AeroCision provides process-engineers, manufactures, and assembles aerospace parts and is based in Chester, CT. Bromford Industries manufactures, tests, and assembles precision machining and specialist fabrications for civil and military aerospace, and marine gas turbine applications and is based in Birmingham, United Kingdom. Locke Lord LLP served as legal advisor to AeroCision.

5/1/2018 Aviall Inc., a subsidiary of The Boeing Company (NYSE:BA), agreed to acquire KLX Inc. (NasdaqGS:KLXI) for $4.5 billion. KLX provides aerospace fasteners, consumables, and logistics services worldwide and is based in Wellington, FL. Aviall distributes and markets aviation parts and related aftermarket supply-chain management services for the aerospace and defense industries and is based in Dallas, TX. Freshfields Bruckhaus Deringer LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal advisors to KLX. Kirkland & Ellis LLP are serving as legal advisor to Boeing.

5/8/2018 Astro Aerospace Ltd. (OTCQB:ASDN) acquired Passenger Drone. The terms of the transaction were not disclosed. Passenger Drone develops vertical takeoff and landing vehicles and is based in the US. Astro Aerospace is a developer of autonomous, unmanned, and manned flying vehicles and is based in Lewisville, TX.

5/14/2018 Aerospace Systems and Structures LLC and Valence Surface Technologies agreed to acquire Triumph Structures - Los Angeles, Inc. and Triumph Processing, Inc. from Triumph Group, Inc. (NYSE:TGI). The terms of the transaction were not disclosed. Triumph Structures manufactures and assembles large structural components for aerospace and ground defense markets. Triumph Processing provides non-destructive testing, chemical processing, and paint services to the global aerospace industry. Aerospace Systems and Structures is a specialty aerospace investment firm based in California. Valence Surface Technologies develops and operates an aerospace and defense metal processing platform and is based in Gardena, CA. Stradley Ronon Stevens & Young, LLP is serving as legal advisor to Triumph Group.

5/17/2018 Mecadaq Group acquired Hirschler Manufacturing Inc. The terms of the transaction were not disclosed. Hirschler manufactures aircraft parts and assemblies and is headquartered in Kirkland, WA. Mecadaq Group provides CNC machining services to the Aerospace industry and is based in Tarnos, France. Stokes Law Office, LLP served as legal advisor to Gerald Hirschler and family. Drinker Biddle & Reath LLP and Hoche Société d'Avocats served as legal advisors to Mecadaq Group.

5/21/2018 Parsons Corporation acquired Polaris Alpha. The terms of the transaction were not disclosed. Polaris Alpha provides technical capabilities, specialized domain expertise, and mission critical solutions to the Department of Defense and Intelligence Community customers and is based in Fredericksburg, VA. Parsons Corporation provides engineering, construction, technical, and management services and is based in Pasadena, CA.

5/28/2018 Jet Support Services, Inc. acquired Conklin & de Decker Associates. The terms of the transaction were not disclosed. Conklin & de Decker Associates provides research, consulting, and education services for the aviation industry and is based in Arlington, TX. Jet Support Services provides hourly cost maintenance programs for aircraft engines, airframes, and APU models and is based in Chicago, IL.

5/29/2018 CBE, Inc. acquired Osprey Defense from Ark Defense LLC. The terms of the transaction were not disclosed. Osprey Defense engages in designing and manufacturing piston systems and accessories and is based in Minden, NV. CBE manufactures binary triggers and augmented reality firearms and is based in Minden, NV. Ark Defense manufactures weapon accessories and firearm components and is based in Virginia Beach, VA.

5/31/2018 Alberta Ltd, dba Dumur Industries Ltd, acquired Dellcom Aerospace Inc. The terms of the transaction were not disclosed. Dumur Industries operates as a sheet metal company and is based in White City, Canada. Dellcom Aerospace manufactures and supplies precision parts for aerospace, military, electronic, and industrial applications and is based in Concord, Canada.

6/1/2018 Valiant Integrated Services LLC acquired Cubic Global Defense, Inc. and Omega Training Group, Inc. from Cubic Corporation (NYSE:CUB) for $138.0 million. Cubic Global Defense designs, develops, and services systems, products, and technologies for national security and is based in San Diego, CA. Omega Training Group provides training, testing, analysis, interactive multimedia instruction, logistics, and staffing services for soldier-oriented programs and is based in Columbus, GA. 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 Herndon, VA. Holland & Knight LLP served as legal advisor to Cubic Corporation. Akin Gump Strauss Hauer & Feld LLP and Crowell & Moring LLP served as legal advisors to Valiant Integrated Services.

6/6/2018 Lynx FBO Network agreed to acquire Napa Jet Center, Inc. The terms of the transaction were not disclosed. Napa Jet Center offers general aviation services and is based in Napa, CA. Lynx FBO is a fixed base operator in the general aviation industry and is based in Aurora, OR. Honigman Miller Schwartz & Cohn LLP is serving as legal advisor to Lynx.

6/7/2018 Culmen International, LLC acquired Analytic Strategies LLC, dba PlanetRisk Federal Services, from PlanetRisk, Inc. The terms of the transaction were not disclosed. PlanetRisk Federal Services provides enterprise analytics services to the federal government and is based in McLean, VA. Culmen provides technical and management services worldwide and is based in Alexandria, VA. PlanetRisk develops data visualization and analysis mobile application to help organizations to mitigate economic risk, protect corporate assets, maintain situational awareness, and safeguard employees and is based in McLean, VA. Pillsbury Winthrop Shaw Pittman LLP served as legal advisor to Culmen. Venable LLP served as legal advisor to Analytic Strategies.

M&A - Financial

6/1/2018 Cache Creek Industries, LLC, Rockmont Capital Partners, Ltd. and Medallion Capital, Inc. acquired Mountain Secure Systems, Inc. from Phillips Service Industries, Inc. The terms of the transaction were not disclosed. Mountain Secure Systems develops, manufactures, and supplies rugged electronic solutions and outdoor wireless network solutions and is based in Longmont, CO. Cache Creek Industries is a private equity firm based in Los Angeles, CA. Medallion Capital is the investment arm of Medallion Financial Group and is based in Burnsville, MN. Rockmont Capital is a private equity firm based in Denver, CO. Phillips Service Industries designs and manufactures precision ball screw and actuation solutions for aerospace, defense, automotive, alternative energy, healthcare, security, and semiconductor industries and is based in Livonia, MI. Calfee, Halter & Griswold LLP served as legal advisor to Cache Creek Industries. Honigman Miller Schwartz and Cohn LLP served as legal advisor to Phillips Service Industries.

6/29/2018 American Industrial Partners acquired L-3 Communications Vertex Aerospace LLC and certain related assets from L-3 Communications Integrated System L.P. and L3 Doss Aviation, Inc. for $540.0 million. L-3 Communications develops and integrates electronic systems for intelligence, surveillance, and reconnaissance missions and is based in Rockwall, TX. L3 Doss Aviation, Inc. 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. American Industrial Partners is a private equity firm based in New York, NY. Simpson Thacher & Bartlett LLP served as legal advisor to L3 Technologies. Jones Day served as legal advisor to American Industrial Partners.

Private Placements

4/4/2018 Airware, Inc. announced that it will receive $20.0 million in a round of funding. As of April 19, 2018, the company had received $8.5 million from 12 investors in its first tranche. Airware provides autopilots that act as development platforms for micro to mid-size fixed-wing, helicopter, multiple-rotor, and custom configuration unmanned aerial systems and is based in San Francisco, CA.

4/5/2018 Space Exploration Technologies Corp. announced that it will receive $500.0 million in funding. As of April 18, 2018, the company announced that it had received $218.0 million from 15 investors in its first tranche. Space Exploration Technologies designs, manufactures, and launches advanced rockets and spacecraft and is based in Hawthorne, CA.

4/18/2018 EarthNow LLC announced that it has received a round of funding from new investors Softbank Group Capital Limited and Airbus SE (ENXTPA:AIR), Bill Gates, and Greg Wyler. EarthNow develops a satellite imaging system designed to deliver real-time and intelligent video observations of the earth and is based in Bellevue, WA. Airbus, through its subsidiaries, provides aerospace products, services and solutions and is based in Leiden, the Netherlands. Softbank Group Capital is a private equity investment arm of the SoftBank Group Corp. and is based in London, United Kingdom.

4/24/2018 Boom Technology, Inc. announced a private placement that involved participation from new investor Ctrip.com International, Ltd. and existing investor Japan Airlines Co., Ltd. (TSE:9201). Boom Technology manufactures supersonic passenger aircraft and is based in Centennial, CO. Ctrip.com operates as a travel service provider and is based in Shanghai, the People's Republic of China. Japan Airlines provides scheduled and non-scheduled air transport services and is based in Tokyo, Japan.

5/10/2018 GE Aviation acquired a stake in Avionica, LLC. Avionica manufactures wireless data transmission equipment and is based in Miami, FL. GE Aviation designs, develops, and manufactures jet and turboprop engines, components, and integrated systems and is based in Cincinnati, OH.

5/16/2018 Bluedrop Performance Learning Inc. (TSXV:BPLI) announced a repayable investment of $5.9 million from Strategic Innovation Fund, a fund managed by Trivaris Ltd. Bluedrop Performance Learning, an e-learning based training company, designs, develops, and delivers workplace training for individuals, businesses, military personnel, and the public sector and is based in St. John's, Canada. Trivaris is a private equity and venture capital firm based in Hamilton, Canada.

5/16/2018 Aireon LLC announced that it has received $69.0 million in an equity round of funding that included participation from new investor National Air Traffic Services Limited. Aireon designs, develops, and deploys space-based global air traffic surveillance systems for commercial aviation companies and air navigation service providers and is based in McLean, VA. National Air Traffic Services provides air traffic control services to airlines, airports, ANSPs, and governments and is based in Fareham, United Kingdom.

5/31/2018 HM Dunn AeroSystems, Inc. announced that it has received $35.2 million in funding from 8 investors. HM Dunn AeroSystems manufactures and distributes aircraft components, kits, assemblies, and large monolithic part structures and is based in Euless, TX.

6/7/2018 An undisclosed investor acquired a minority stake in MAG DS Corp. for $110.0 million. MAG DS provides specialty aviation; aerial surveillance; and intelligence, surveillance, and reconnaissance support and training and is based in Woodbridge, VA.

6/22/2018 Ursa Space Systems Inc. announced that it has received $5.7 million in funding. Ursa Space Systems provides geospatial services using radar satellite imagery and is based in Ithaca, NY.

6/26/2018 AST&Science LLC announced that it has received $10.0 million in funding from Cisneros Group of Companies. AST&Science manufactures miniature satellites and is based in Miami, FL. Cisneros Group of Companies operates as a media and entertainment company and is based in Caracas, Venezuela.