CW Q2 2020 Aerospace & Defense M&A and Financing Report

This report is prepared as a courtesy to the Aerospace & Defense business community by Columbia West 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

4/15/2020  The AEgis Technologies Group, Inc. acquired EMRC Heli. The terms of the transaction were not disclosed. EMRC designs, manufactures, integrates, tests, and supports multiple fixed and rotary wing small Unmanned Aerial Platforms and is based in Huntsville, AL. AEgis provides 3D visualization and embedded training devices for unmanned systems and is based in Huntsville, AL.

4/20/2020  AMERGINT Technologies, Inc. agreed to acquire the precision optics business of Collins Aerospace. The terms of the transaction were not disclosed. Collins designs, manufactures, and services systems and components and is based in Charlotte, NC. AMERGINT develops software-defined signal and protocol processing applications for military, intelligence, and commercial space and is based in Colorado Springs, CO. Simpson Thacher & Bartlett LLP is serving as legal advisor to AMERGINT.

5/1/2020  Perspecta Inc. (NYSE:PRSP) acquired certain assets of DHPC Technologies Inc. for $53.0 million. DHPC delivers technical solutions to national security organizations and is based in Woodbridge, NJ. The acquired assets comprise electronic warfare technologies. Perspecta provides enterprise information technology (IT) services to government customers and is based in Chantilly, VA.

5/4/2020  New Wave Design and Verification, LLC acquired FlightWire Technology, Inc. The terms of the transaction were not disclosed. FlightWire manufactures test equipment, test fixtures, and adapter boards for the aerospace and defense industry and is based in Colorado Springs, CO. New Wave designs, builds, tests, and delivers customized and off-the-shelf electronic systems for networking applications in aerospace, finance, telecommunications, and big data markets and is based in Minneapolis, MN.

5/6/2020  AMERGINT Technologies, Inc. acquired Tethers Unlimited, Inc. The terms of the transaction were not disclosed. Tethers develops and produces products based upon space tether technologies and provides in-space services and is based in Bothell, WA.  AMERGINT develops software-defined signal and protocol processing applications for military, intelligence, and commercial space and is based in Colorado Springs, CO.

5/7/2020  The Auxiliary Group, LLC, dba TAG Aero, and Unique Airmotive Services announced that they recently completed a dual acquisition and merge facilitated by Mill Hill Capital. The terms of the transaction were not disclosed. Unique Airmotive Services provides maintenance, repair, and overhaul solutions for auxiliary power units to the aviation industry and is based in Lake Wylie, SC. TAG Aero specializes in the purchase, sale, and lease of all APU models for commercial and regional aircrafts and is based in Winter Garden, FL. Mill Hill Capital is a private investment firm based in Naples, FL.

5/18/2020  Cognosante, LLC acquired Enterprise Information Services, Inc. The terms of the transaction were not disclosed. Enterprise provides systems engineering, information technology, and program management office services and solutions to the U.S. federal government and is based in Vienna, VA. Cognosante provides consulting, technology, and business process outsourcing services to healthcare organizations and is based in Falls Church, VA.

5/28/2020  Leading Technology Composites, Inc. acquired Business Assets and Contracts of ArmorStruxx, LLC. The terms of the transaction were not disclosed. Armorstruxx provides ballistic and blast protection solutions and is based in Lodi, CA. Leading Technology Composites designs and manufactures composite parts and assemblies and is based in Wichita, KS.

6/1/2020  Radiation Test Solutions, Inc. agreed to acquire Cobham RAD Inc. The terms of the transaction were not disclosed. Cobham RAD provides military standard radiation effects test services and is based in Colorado Springs, CO. Radiation Test Solutions is engaged in designing, analysis, and testing of semiconductor devices and materials for satellite, aircraft, and ground applications and is based in Colorado Springs, CO.

6/1/2020  Wing Aviation Charter Services LLC acquired the Private Aircraft Management & Charter Services from Western Airways, Inc. The terms of the transaction were not disclosed. Western Airways offers private jet charter services and is based in Sugar Land, TX. Wing Aviation offers aviation services worldwide and is based in Houston, TX.

6/2/2020  Framatome acquired the U.S. commercial nuclear services business of BWX Technologies, Inc. (NYSE:BWXT). The terms of the transaction were not disclosed. BWX manufactures and sells nuclear components in the United States, Canada, and internationally and is based in Lynchburg, VA. Framatome designs, services and installs components, fuel, and instrumentation and control systems for nuclear power plants and its North American headquarters is in Lynchburg, VA.

6/09/2020  The current management team of the Defense Technology and Monadnock Segments of Safariland, LLC, dba The Safariland Group, agreed to acquire Safariland's Defense Technology and Monadnock Segments which comprise manufacturing of crowd control solutions, including chemical agents, munitions, and batons to law enforcement and military agencies. The terms of the transaction were not disclosed. Safariland designs, engineers, manufactures, and markets safety and survivability products for law enforcement personnel, governmental agencies, and multi-national corporations and is based in Jacksonville, FL.

6/10/2020  Novetta Solutions, LLC acquired WaveStrike, LLC. The terms of the transaction were not disclosed. WaveStrike provides software engineering services to the Department of Defense and Intelligence Community and is based in Annapolis Junction, MD. Novetta provides analytics software and solutions that detect threat and fraud, and protect high value networks for government and commercial enterprises worldwide and is based in McLean, VA.

6/23/2020  Redwire, LLC acquired Made In Space, Inc. The terms of the transaction were not disclosed. Made In Space engages in designing and manufacturing space exploration, national security, and sustainable space settlement equipment and is based in Jacksonville, FL. Formed by the combination of Adcole Space and Deep Space Systems, Redwire provides mission critical space solutions and high reliability components for the next generation space architecture. Gibson, Dunn & Crutcher LLP served as legal advisor to Made In Space. Kirkland & Ellis LLP served as legal advisor to Redwire.

6/26/2020  B3Bar Holdings LLC acquired DataWing Global. The terms of the transaction were not disclosed. DataWing provides aerial data and aviation operational management services and is based in San Antonio, TX. B3Bar, through its subsidiaries, offers aerial photography, data, and aviation operational management services and is based in George West, TX.

M&A - Financial

4/30/2020  Lowden Street Capital acquired Southern Air Custom Interiors, Inc. The terms of the transaction were not disclosed. Southern Air is an upholstery company that focuses on customizing aircraft interiors and is based in Haleyville, AL. Lowden Street Capital is a private equity and venture capital firm based in Alexander City, AL.

5/18/2020  The Blackstone Group Inc. (NYSE:BX) and Boundary Equipment Co. Ltd. acquired AMERGINT Technologies, Inc. The terms of the transaction were not disclosed. AMERGINT develops software-defined signal and protocol processing applications for military, intelligence, and commercial space and is based in Colorado Springs, CO. The Blackstone Group is an alternative asset management firm based in New York, NY. Boundary Equipment designs, manufactures, repairs, and supplies wear parts for mining, forestry, cement, agriculture, construction, marine, and power utility industries and is based in Edmonton, Canada.

6/1/2020  AE Industrial Partners, LP (AEI) acquired Deep Space Systems (DSS). The terms of the transaction were not disclosed. AEI combined DSS with their recently acquired portfolio company, Adcole Maryland Aerospace, LLC, to form Redwire, a space platform focused on designing and developing mission critical space solutions and high reliability components in support of the next generation space architecture. DSS supports the design, development, integration, testing, and operations of advanced space systems, components, and exploration spacecraft and is based in Littleton, CO. Adcole designs, develops, and manufactures spacecraft architecture and components and is based in Fulton, MD. AEI is a private equity firm based in Boca Raton, FL. Holland & Hart LLP served as legal advisor to DSS. Akerman LLP served as legal advisor to AEI.

6/23/2020  Gardner Standard LLC acquired Shadin L.P., dba Shadin Avionics LP. The terms of the transaction were not disclosed.  Shadin designs and manufactures aircraft performance measurement and control instrumentation solutions for military aerospace, commercial, business, and general aviation markets and is based in St. Louis Park, MN. Gardner is a private equity firm based in New York, NY.

6/29/2020  Architect Equity LLC agreed to acquire the Aerospace Composite Manufacturing Business of AAR Manufacturing, Inc. The terms of the transaction were not disclosed. AAR manufactures military mobility systems and equipment and is based in Wood Dale, IL. Architect Equity is a private equity firm based in El Segundo, CA. Winston & Strawn LLP served as legal advisor to AAR.

Private Placements

4/17/2020  Boom Technology, Inc. announced that it will receive $22.8 million in funding. As of April 30, 2020, the company received $3.1 million in its first tranche from 6 investors. Boom manufactures and supplies supersonic passenger aircraft and is based in Englewood, CO.

5/18/2020  Curtiss-Wright Corporation (NYSE:CW) announced a private placement of senior notes for gross proceeds of $300.0 million. Curtiss-Wright, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide and is based in Davidson, NC.

5/20/2020  Xwing, Inc. announced that it has received $10.0 million in its equity round of funding led by R7 Partners with participation from Thales Corporate Ventures, Alven Capital Partners SA and returning investor ENIAC Ventures. Xwing develops flight technology solutions for unmanned aircrafts and is based in San Francisco, CA. R7 Partners is a venture capital firm based in Chicago, IL. Thales Corporate Ventures is the venture capital investment arm of Thales Group and is based in Paris, France. Alven Capital Partners is a venture capital firm based in Paris, France. ENIAC is a venture capital firm based in San Francisco, CA.

6/18/2020  Red 6 Inc. announced that it has received a round of funding from new investor Lockheed Martin Ventures. The terms of the transaction were not disclosed. RED 6 develops outdoor augmented reality solutions for air combat training and is based in Santa Monica, CA.