Target
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Buyer
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Description
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Target: Santa Clara, CA based Invecas is a provider of turnkey ASIC custom silicon production, embedded software, and system level solutions to private sector and U.S. federal government defense, IoT , medical, and semiconductor markets. The company provides full turnkey NPI and production management for their ASIC products.
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Buyer: San Jose, CA based Cadence is a provider of electronic systems design. The company’s capabilities include software, hardware, IP, chips, boards, hyperscale computing, and 5G communications. The company primarily serves the automotive, aerospace, industrial, and healthcare sectors.
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Terms: Transaction announced on January 8, 2024. Terms not disclosed.
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Target: Oshkosh, WI based SNC is a designer and manufacturer of electrical transformers, utility products, and information and communication products for private sector and U.S. federal government defense, industrial automation, and alternative power generation and energy markets.
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Buyer: Amherst, NY based Allient is a global designer and manufacturer of precision and specialty motion, controls and power products and solutions. The company currently operates through the following divisions: Allient Motion, Allient Controls, and Allient Power.
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Terms: Transaction announced on January 11, 2024. SNC’s 2023E revenue was estimated to be approximately $40M.
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a division of
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Target: White Salmon, WA based Aerovel is a developer and manufacturer of unmanned aerial systems and vehicles for private sector and U.S. federal government aerospace and defense markets. Aerovel is the creator of the Group 2 small tactical unmanned aerial system (STUAS), a backbone of US military and allied intelligence, surveillance, target acquisition and reconnaissance (ISTAR) missions worldwide.
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Buyer: Marignane , France based Airbus Helicopters is a provider of efficient helicopter solutions. The company’s product line offers a full spectrum of rotary wing aircraft solutions for civil, military, law enforcement and parapublic uses.
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Terms: Transaction announced on January 15, 2024. Terms not disclosed.
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Interconnect Technologies business
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Target: Scottsdale, AZ based Interconnect Technologies business of Carlisle is a designer and manufacturer of high performance wire and cable, including optical fiber for the commercial aerospace, military and defense electronics, medial device, general industrial sectors. The company also offers sensors, connectors, contacts, and cable assemblies.
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Buyer: Wallington, CT based Amphenol is a provider of high technology interconnect, sensor, and antenna solutions. The company provides products and services to the automotive, broadband communications, commercial aerospace, defense, and general industrial sectors.
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Terms: Transaction announced on January 30, 2024. The purchase price is expected to be $2.0B, 2.2x and 11.1x 2024P revenue and adj. EBITDA, respectively.
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