Download and read the October 2024 issue of the A&D Manufacturing Monthly, covering the latest M&A deal activity and valuation trends in the aerospace & defense manufacturing sector, which includes companies with capabilities such as precision machining, forming, sheet metal fabrication, tube bending, welding, brazing, plating, heat treatment, metal finishing, injection molding, composite manufacturing, testing, inspection and assembly. Sign up for the A&D Manufacturing Monthly distribution list to stay up-to-date on the headline acquisitions impacting your market and the current dynamics of the publicly traded strategic companies within the industry.
Key A&D Manufacturing Deals Announced
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Target: Bristol, CT-based Barnes is an international manufacturer and repair service provider of industrial and aerospace products. The company operates in two segments which collectively manufacture machined and fabricated components and assemblies for aircraft engine and airframe builders as well as customized hot runner systems, high precision molds, components, and system solutions for complex plastic injection molding applications.
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Buyer: New York, NY-based Apollo is a global alternative asset manager. The firm targets investments in the business services, chemicals, consumer services, consumer & retail, financial services, leisure, manufacturing & industrial, TMT, and natural resources markets.
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Terms: Transaction announced on October 7, 2024. Purchase price expected to be $3.6B, 2.3x and 10.8x LTM Q3-24 revenue and EBITDA, respectively.
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a portfolio company of
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Target: South Paris, ME-based Precinmac is a diversified manufacturer of high-tolerance precision machined components and assemblies for the aerospace & defense, semiconductor, and general industrial markets. Precinmac comprises eight diverse companies specializing in manufacturing medium to high complexity parts. Focuses on high-requirement customers and long-running programs.
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Buyer: New York, NY-based Centerbridge Partners is a global alternative investment manager. The firm targets investments in the financial services, healthcare, industrial, technology, and real estate markets.
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Terms: Transaction announced on October 14, 2024. Terms not disclosed.
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Target: Bridgeville, PA-based Universal Stainless manufactures and markets semi-finished and finished specialty steel products for the aerospace, defense, power generation, and general industrial end-markets. The company's products include stainless steel, nickel alloys, tool steel, and various other alloyed steels. Additionally, the company offers semi-finished and finished long products in the form of ingots, billets, and bars.
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Buyer: Luxembourg-based Aperam is an international steel and alloy producer with a focus on stainless steel and specialty alloys. The company serves the aerospace, automotive, and industrial markets, offering high-performance materials and sustainable solutions to meet complex engineering requirements.
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Terms: Transaction announced on October 17, 2024. Purchase price is expected to be $539M, 1.7x and 10.7x LTM Q3-24 revenue and EBITDA, respectively.
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a portfolio company of
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Target: United Kingdom-based Trac Precision Machining manufactures and supplies precisionengineered parts and components. The company's capabilities include grinding, milling, drilling, welding, brazing, and coating. The company serves the aerospace, defense, and power generation markets.
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Buyer: India-based PTC is a leading manufacturer of high-integrity metal castings and components, specializing in advanced alloy solutions for aerospace, defense, and energy markets. The company leverages precision engineering and cutting-edge casting technologies to deliver customized, high-quality products to a global customer base.
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Terms: Transaction announced on October 18, 2024. Terms not disclosed.
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