Target
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Buyer
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Description
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Target: Finland-based Nordic develops and manufactures unmanned aerial systems for private sector and international government homeland security markets. The company's products are used in various authority use in the security sector as well as data collection, mapping, measurement and inspection tasks.
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Buyer: Finland-based Patria is a provider of defense, security and aviation life cycle support services, technology solutions and pilot training. The company provides its aerospace and military customers with equipment availability, continuous performance development
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Terms: Transaction announced on June 13, 2024. Terms not disclosed.
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a portfolio company of
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Target: Arlington, VA-based CAES provides systems that move data through off-the-shelf and customized products including RF, microwave, and high reliability microelectronics, antenna subsystems and motion control. The company provides Electronic Attack (EA), Electronic
Protection (EP), and Electronic Warfare Support (EP) capabilities specifically designed and built for air, land and maritime operations.
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Buyer: Charlotte, NC-based Honeywell is a provider of aerospace products and services, control technologies for buildings, homes and industry, automotive products, power generation systems, specialty chemicals, fibers, plastics, and advanced materials.
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Terms: Transaction announced on June 20, 2024. The purchase price is expected to be $1.9B, 14.0x FY2024P EBITDA.
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Target: Las Vegas, NV-based Gresham is a provider of high-quality, high-reliability bespoke technology solutions required for mission critical applications in the defense, medical and telecommunications verticals. The company specializes in the distribution of electronic components.
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Buyer: Scottsdale, AZ-based Ault Disruptive is a Special Purpose Acquisition Company ("SPAC") whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, or similar business combination with one or more businesses.
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Terms: Transaction announced on June 24, 2024. The purchase price is expected to be $83M, 2.1x TTM Mar-24 revenue.
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a portfolio company of
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a portfolio company of
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Target: Dallas, TX-based High Point is a developer and manufacturer of autonomous defense and robotic systems for multi-mission capabilities in private sector and U.S. federal government aerospace, defense, homeland security, and critical infrastructure markets. The company develops scalable, interoperable software and is a prime integrator for sensors and effectors for
multi-domain operations.
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Buyer: Fairfax, VA-based DZYNE Technologies designs, develops, and produces advanced Group I-V UAS platforms and analytic systems. The company's core capabilities include tube-launched and rotor unmanned UAS, composites fabrication, assembly, and aircraft integration.
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Terms: Transaction announced on June 27, 2024. Terms not disclosed. DZYNE and High Point are both portfolio companies of Highlander.
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