Target
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Buyer
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Description
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Target: West Lafayette, IN-based Uniform Sierra Aerospace develops unmanned aircraft systems for businesses and governments. The company offers drones that are GPS-denied environments and a scalable system that is built around providing autonomous data and tethered aerial platform for modular and mid-mission adaptable payloads.
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Buyer: Atlanta, GA-based Flock Safety develops drone technology and data solutions for applications in surveillance, mapping, and logistics. The company specializes in autonomous systems that leverage AI and advanced analytics. The company serves the defense, agriculture, and transportation markets.
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Terms: Transaction announced on January 3, 2025. Terms not disclosed.
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Target: Belgium-based Septentrio designs, manufactures, markets, and supports high-precision multi frequency multi constellation GPS/GNSS equipment. The company's products are used in various applications in marine, construction, agriculture, survey and mapping, GIS, UAV, and other markets.
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Buyer: Sweden-based Hexagon develops digital reality solutions, specializing in sensor, software, and autonomous technologies for precision measurement and data analytics. The company serves markets including aerospace, defense, automotive, and manufacturing, providing tools to enhance efficiency and decision-making.
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Terms: Transaction announced on January 7, 2025. Terms not disclosed.
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a portfolio company of
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Target: Wichita, KS-based Integra Technologies provides full-turnkey capabilities of die preparation, packaging, testing and characterization of hi-rel semiconductor components and related value-added services for private sector and U.S. federal government communications, medical, and missile defense markets.
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Buyer: Melville, NY-based Micross provides high-reliability microelectronic components and services, specializing in custom packaging, testing, and obsolescence management. The company serves the aerospace, defense, medical, and industrial markets.
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Terms: Transaction announced on January 16, 2025. Terms not disclosed.
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a portfolio company of
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Target: San Luis Obispo, CA-based Edge Autonomy is a manufacturer in the small, fixed-wing UAV segment and develops/produces subsystems, stabilized EO/IR camera payloads and accessories for the unmanned and manned aircraft industry. The company's systems, airframes, components and subsystems are delivered to over 57 different countries.
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Buyer: Jacksonville, FL-based Redwire specializes in space infrastructure and technology solutions, offering products like deployable structures, in-space manufacturing systems, and satellite components. The company supports space exploration, national security, and commercial space markets with innovative solutions for critical space missions.
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Terms: Transaction announced on January 20, 2025. Purchase price expected to be $925M, 4.2x and 12.8x TTM Sep-24 revenue and adj. EBITDA, respectively.
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