M&A Deal Summary

Craig Capital Acquires Tcom

On November 29, 1989, private equity firm Craig Capital acquired aerospace company Tcom from Westinghouse Electric

Acquisition Highlights
  • This is Craig Capital’s 1st transaction in the Aerospace sector.
  • This is Craig Capital’s 1st transaction in the United States.
  • This is Craig Capital’s 1st transaction in Maryland.

M&A Deal Summary
Date 1989-11-29
Target Tcom
Sector Aerospace
Buyer(s) Craig Capital
Sellers(s) Westinghouse Electric
Deal Type Divestiture

Target

Tcom

Columbia, Maryland, United States
website
Tcom is a designer, manufacturer and operator of tethered aerodynamically-stabilized aerostats of up to 233 feet in length that served as platforms for a wide variety of electronic payloads (e.g., radars, listening devices, relays) used by various governments for work such as drug interdiction and surveillance. Tcom was founded in 1971 and is based in Columbia, Maryland.

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Buyer(S) 1

Buyer

Craig Capital

Greenwich, Connecticut, United States

website

Category Private Equity Firm
Founded 1989
Size Small
Type Sector Agnostic
DESCRIPTION

Craig Capital Corp. is a private equity firm focused on leveraged buyouts of well-managed, highly profitable businesses that may be underappreciated for various reasons. Examples include businesses in out of favor sectors, companies that are difficult to finance, businesses missing key members of management, or discontinued operations of larger corporations. Craig's target investment size is $4 to $25 million per transaction. Prospective companies typically have at least $4 million of EBITDA. Craig Capital is based in Greenwich, Connecticut with additional offices in Burlington, Vermont and Palm Beach, Florida.

DEAL STATS #
Overall 1 of 3
Sector (Aerospace) 1 of 1
Type (Divestiture) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 2
Year (1989) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-22 Schuylkill Metals

Plant City, Florida, United States

SMC was one of the three largest lead recyclers in the U.S. It operated secondary lead smelters in Baton Rouge, LA and Forest City, MO. SMC was 100% in environmental compliance.

Sell -

Seller(S) 1

SELLER

Westinghouse Electric

Cranberry Township, Pennsylvania, United States

website

Category Company
Founded 1884
Sector Energy Services and Equipment
DESCRIPTION

Westinghouse Electric is providing nuclear energy technologies, products and services to utilities around the world. Its mission is to focus on a much broader goal; using the power of intellect, collaboration and innovation to build on the legacy of our founder, and to create a cleaner, safer and sustainable carbon-free future for generations to follow. Westinghouse Electric was founded in 1884 and is based in Cranberry Township, Pennsylvania.

DEAL STATS #
Overall 1 of 2
Sector (Aerospace) 1 of 1
Type (Divestiture) 1 of 2
State (Maryland) 1 of 1
Country (United States) 1 of 2
Year (1989) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1994-02-01 WESCO

Pittsburgh, Pennsylvania, United States

WESCO is a distributor of electrical, data communications, general maintenance, repair, and operating (MRO) and electrical OEM products. WESCO was founded in 1922 and is based in Pittsburgh, Pennsylvania.

Sell $330M
Mergr

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