Target
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Buyer
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Description
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a portfolio company of
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a portfolio company of
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Target: Deer Park, NY-based PLX is a developer of high-quality monolithic optics that can withstand and perform under the harshest environmental conditions and maintain their accuracy over time. The company's products include Monolithic Optical Structure Technology (M.O.S.T ) and Hollow Retroreflectors.
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Buyer: Hiram, OH-based Luxium Solutions, LLC is a provider of high-performance crystals used in photonics and radiation detection applications in private sector and U.S. federal government agricultural, defense, and nuclear markets. The company is fully vertically integrated with crystal
purification, growth, cutting & finishing, packaging, and electronics integration capabilities.
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Terms: Transaction announced on March 4, 2024. Terms not disclosed.
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Target: United Kingdom-based Valeport is a designer and manufacturer of underwater sensors for environmental, energy, construction and defense applications. The company provides complementary underwater sensors including sound velocity probes, current and flow meters, and conductivity, temperature and depth sensors.
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Buyer: Thousand Oaks, CA-based Teledyne (NYSE: TDY) is a provider of aerospace and defense technology. The company’s products and capabilities include monitoring and control instrumentation, harsh environment interconnects, electronic test and measurement equipment, and digital imaging sensors and cameras.
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Terms: Transaction announced on March 13, 2024. Terms not disclosed.
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a portfolio company of
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Target: Cypress, CA-based Mission Microwave is a developer of next generation Solid-State Power Amplifiers (SSPAs) and Block Upconverters (BUCs) to support ground-based, airborne, and space-based applications in private sector and U.S. federal government markets. the company utilizes advanced GaN transistors, unique power combining technology, and novel full-system designs.
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Buyer: New York, NY-based J.F. Lehman is a middle-market private equity firm focused exclusively on the defense, aerospace and maritime sectors. The firm focuses on making control investments in lower middle market companies with unique engineering competencies and technology-driven products and services whose performance is critical.
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Terms: Transaction announced on March 14, 2024. Terms not disclosed.
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Target: Italy-based Civitanavi is a provider of high-tech inertial navigation and stabilization systems for private sector and international government aerospace, defense, and industrial markets. The company is a vertically integrated inertial system supplier with proprietary and ITAR free FOG (Fiber Optic Gyroscope) in house manufacturing processes, advanced Navigation and inertial sensor fusion algorithms.
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Buyer: Charlotte, NC-based Honeywell (NasdaqGS: HON) is a diversified technology and manufacturing company providing aerospace products and services, control technologies for buildings, homes and industry, automotive products, power generation systems, fibers, and advanced materials.
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Terms: Transaction announced on March 27, 2024. Terms not disclosed. The purchase price is expected to be $216.6M, 4.4x and 15.0x FY2023 revenue and EBITDA, respectively.
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