Target
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Buyer
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Description
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a portfolio company of
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Target: Maiden, MA based Samtan is a single source metalworking supplier which produces drawn and stamped components and assemblies for private sector and U.S. federal government defense markets. The company's capabilities include shearing, punching, forming, machining, welding, and assembly.
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Buyer: Beloit, WI based Fairbanks Morse manufactures large, heavy duty diesel, gas and dual fuel engines and parts for engines. The company’s capabilities include OEM parts, turnkey service & support, training solutions, flushing & filtration, upgrades, engineering services, and its unit exchange program.
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Terms: Transaction announced on January 3, 2024. Terms not disclosed.
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Target: Auburn, CA based Vian Enterprises is a designer and manufacturer of multi stage lubrication pumps and lubrication system components technology for private sector and U.S. federal government aerospace and defense applications. The company is sole sourced and uses proprietary content on the highest volume commercial and military aircraft platforms.
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Buyer: Stamford, CT based Crane is a provider of high precision technologies including components, engine solutions, landing gear, satellite, missiles, and electronic countermeasure devices.
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Terms: Transaction announced on January 3, 2024. The purchase price was $103M, 3.1x and 12.9x TTM revenue and EBITDA, respectively.
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Associated Spring and Hänggi businesses
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Target: Milwaukee, WI based Associated Spring and Hänggi businesses of Barnes are manufacturers of precision springs for a range of transportation and industrial applications. The businesses products include mechanical springs, wire forms, washers, reed and flapper valves, precision stampings and assemblies.
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Buyer: New York, NY based One Equity Partners is middle market private equity firm with approximately $10B AUM. The company focuses on making investments in the industrial, healthcare, and technology sectors.
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Terms: Transaction announced on January 11, 2024. The purchase price was $175M, 0.9x TTM revenue.
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a portfolio company of
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Target: Simi Valley, CA based Vanderhorst Brothers is a manufacturer of complex machined components and high precision parts for Tier 1 and OEM customers in aerospace, defense, and space markets. The company employs the use of lean manufacturing methodologies and is AS9100D certified. The company's capabilities include milling, turning, EDM, and debur.
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Buyer: Fife, WA based RTC Aerospace is a provider of lean cell manufacturing and complex assemblies. The company specializes in precision machining, specifically high nickel alloys, titanium, high heat treat alloy steels, and stainless steel.
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Terms: Transaction announced on January 16, 2024. Terms not disclosed.
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