Target
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Buyer
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Description
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Target: San Antonio, TX-based Vivace develops mission-critical propulsion tanks for private sector and U.S. federal government spaceflight, hypersonics, and launch vehicle markets. The company is a supplier to the Commercial Lunar Payload Services program, which will land numerous missions on the lunar surface as part of the larger Artemis program, through primes such as Lockheed Martin and Northrop Grumman.
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Buyer: New York, NY-based Cerberus Capital specializes in providing both financial resources and operational expertise. The firm primarily targets investments in the defense, aerospace, and government technology sectors.
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Terms: Transaction announced on August 6, 2024. Terms not disclosed.
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a portfolio company of
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Target: Yorba Linda, CA-based PAM is a full-service supplier of injection, compression, transfer molded plastic, CNC machining and value-added assembly specializing in close tolerance custom molding for the aerospace, defense, medical, and electronics sectors.
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Buyer: Alpharetta, GA-based Pexco designs and fabricates custom extruded plastics products. The company provides standard and specialty parts and components to manufacturers and endusers for a broad range of custom applications, including the specialty, traffic safety, lighting and fence sectors.
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Terms: Transaction announced on August 12, 2024. Terms not disclosed.
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Target: Long Island, NY-based MOD-A-CAN is a provider of precision aerospace structural assemblies, machined parts, brazed chassis, electrical and mechanical assemblies, and screening and painting services. The company's core capabilities include CNC machining, engineering, fabrication, brazing, and welding.
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Buyer: Buffalo, NY-based Fors Holdings is a private investment firm that focuses on acquiring, developing, and managing companies primarily in the United States. The firm specializes in longterm investments across various sectors, including real estate, technology, and consumer goods, with an emphasis on value creation and sustainable growth.
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Terms: Transaction announced on August 12, 2024. Terms not disclosed.
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Target: Plymouth, MI-based Loc is a manufacturer of machined components for automotive powertrains, gears and gear systems, track systems, and suspension and final drives for the entire arsenal of U.S. Military tracked vehicles. The company also provides in-house painting and packaging capabilities to satisfy military specifications and shipping requirements.
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Buyer: Germany-based Rheinmetall is a defense and automotive company, specializing in military technology, weapons systems, and vehicle production. The company also develops and manufactures automotive components, including engine systems and electronics, focusing on both civilian and defense applications globally.
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Terms: Transaction announced on August 14, 2024. Purchase price was $950M.
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Target: Canada-based Héroux-Devtek engages in the design, development, manufacture, and repair and overhaul of aircraft landing gears, hydraulic and electromechanical flight control
actuators, custom ball screws, and fracture-critical components. The company serves civil and defense sectors of the aerospace market.
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Buyer: Los Angeles, CA-based Platinum Equity is a global private equity firm that specializes in mergers, acquisitions, and operations of companies that provide mission-critical products, services, and solutions in diverse industries.
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Terms: Transaction announced on July 11, 2024. Purchase price is expected to be $999M, 2.2x and 15.3x FY2024A revenue and EBITDA, respectively.
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