M&A Deal Summary

TransDigm Group Acquires Raptor Scientific

On May 28, 2024, TransDigm Group acquired test/measurement equipment company Raptor Scientific from L Squared Capital Partners, Graycliff Partners and Five Points Capital for 655M USD

Acquisition Highlights
  • This is TransDigm Group’s 1st transaction in the Test/Measurement Equipment sector.
  • This is TransDigm Group’s 7th largest (disclosed) transaction.
  • This is TransDigm Group’s 23rd transaction in the United States.
  • This is TransDigm Group’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2024-05-28
Target Raptor Scientific
Sector Test/Measurement Equipment
Buyer(s) TransDigm Group
Sellers(s) L Squared Capital Partners
Graycliff Partners
Five Points Capital
Deal Type Add-on Acquisition
Deal Value 655M USD

Target

Raptor Scientific

Berlin, Connecticut, United States
Raptor Scientific is a manufacturer of complex test and measurement solutions primarily serving the aerospace and defense end markets. The Company's products are highly engineered, proprietary components with significant aftermarket content and a strong presence across major aerospace and defense platforms. Raptor Scientific was founded in 2019 and is based in Berlin, Connecticut.

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Buyer(S) 1

Buyer

TransDigm Group

Cleveland, Ohio, United States

Category Company
Founded 1993
Sector Aerospace
Employees15,500
Revenue 6.6B USD (2023)
DESCRIPTION

TransDigm Group is a designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft platforms. TransDigm's major product lines include pumps, ignition system components, mechanical controls and actuators, engineered connectors, NiCad batteries and chargers, lavatory components and overhead bin latches. TransDigm Group was founded in 1983 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 30 of 30
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 20 of 20
State (Connecticut) 1 of 1
Country (United States) 23 of 23
Year (2024) 1 of 1
Size (of disclosed) 7 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-14 Calspan

Buffalo, New York, United States

Calspan is an independent provider of highly engineered testing and technology development services and systems primarily for the aerospace & defense industry. The Company operates from seven primary facilities across the states of New York, Virginia, Minnesota, and California. Calspan was founded in 1943 and is based in Buffalo, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-30 North Wind

St. Paul, Minnesota, United States

North Wind is an independent supplier of complex hypersonic and Research, Development, Test & Evaluation (RDT&E) systems and services. North Wind is based in St. Paul, Minnesota.

Sell -

Seller(S) 3

SELLER
DESCRIPTION

L Squared Capital Partners is a private investment group focused on long-term investments in lower middle-market growth companies with $15 to $100 million in revenue. The Firm looks to commit $30 to $100 million per transaction and will consider opportunities throughout North America. Sectors of interest include tech-enabled services, industrial technology, and education. L Squared Capital was established in 2014 and is headquartered in Newport Beach, California.


DEAL STATS #
Overall 6 of 6
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Connecticut) 1 of 1
Country (United States) 6 of 6
Year (2024) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-15 Elevated Facility Services Group

Tampa, Florida, United States

Elevated Facility Services Group is a provider of elevator maintenance, repair, and modernization services across all major brands of equipment. Oracle Elevator currently operates 22 branch locations across 13 states. Elevated Facility Services Group is based in Tampa, Florida.

Sell $570M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-04 TeachTown

Woburn, Massachusetts, United States

TeachTown provides software and solutions for students diagnosed with autism spectrum disorder, intellectual disabilities, and developmental disabilities. TeachTown was formed in 2003 and is based in Woburn, Massachusetts.

Buy -
SELLER

Graycliff Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graycliff Partners is a private equity firm focused on private equity and mezzanine investments in middle-market companies throughout the US. The Firm's mezzanine practice does not have any sector preferences and looks to invest $10 to $50 million in profitable companies with at least $10 million in revenue. Funds are used to support buyouts, growth needs, divestitures, or consolidations. Graycliff's private equity group looks to acquire middle-market companies in the manufacturing, service, and distribution sectors. The Firm looks for businesses with $10 to $200 million of revenue. Graycliff Partners was established in 1991 and is based in New York City.


DEAL STATS #
Overall 35 of 36
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 17 of 18
State (Connecticut) 1 of 1
Country (United States) 32 of 33
Year (2024) 3 of 4
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-17 Ballymore

Coatesville, Pennsylvania, United States

Ballymore Safety Products designs, develops, and manufactures engineered safety products that address safety and productivity issues related to vertical access and heavy material handling. The Company offers a broad suite of products and services, including rolling safety ladders, lifts, work platforms, fall protection systems, portable loading docks, lift tables, conveyors, stackers, and reach tools. Ballymore Safety Products was founded in 1945 and is based in Coatesville, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-26 Diamond Chemical

East Rutherford, New Jersey, United States

Diamond Chemical manufactures cleaning and sanitation chemicals serving hospitality, food service, commercial laundry, and other end-markets. Diamond produces both organic intermediates and finished products for laundering, housekeeping, warewash, floor care, sanitizing, and pool care. Diamond Chemical was formed in 1930 and is headquartered in East Rutherford, New Jersey.

Buy -
SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.


DEAL STATS #
Overall 58 of 58
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 24 of 24
State (Connecticut) 2 of 2
Country (United States) 58 of 58
Year (2024) 3 of 3
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-09 JSI

Greenbelt, Maryland, United States

JSI is a provider of regulatory and compliance consulting services to telecommunications providers in rural communities across the US. JSI's deep knowledge of the telecom industry and rural broadband markets is a key differentiator benefiting its longstanding client base. The company also provides financial, business management and executive management training services to its client base. JSI was founded in 1962 and is headquartered in Greenbelt, Maryland.

Sell -