M&A Deal Summary

AMETEK Acquires SeaCon Phoenix

On April 18, 2007, AMETEK acquired manufacturer SeaCon Phoenix from Hastings Equity Partners and Admiralty Partners for 38M USD

Acquisition Highlights
  • This is AMETEK’s 3rd transaction in the Manufacturing sector.
  • This is AMETEK’s 33rd largest (disclosed) transaction.
  • This is AMETEK’s 11th transaction in the United States.
  • This is AMETEK’s 1st transaction in Rhode Island.

M&A Deal Summary

Date 2007-04-18
Target SeaCon Phoenix
Sector Manufacturing
Buyer(s) AMETEK
Sellers(s) Hastings Equity Partners
Admiralty Partners
Deal Type Add-on Acquisition
Deal Value 38M USD
Advisor(s) Morse Barnes-Brown & Pendleton PC (Legal)

Target

SeaCon Phoenix

Westerly, Rhode Island, United States
website
Seacon Phoenix is a leading designer and manufacturer of cables and connectors used in underwater and harsh environment applications. Its products are used on nuclear submarines and surface ship applications for hull penetration and device connectivity in addition to deep water oil & gas exploration and production.

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Buyer(S) 1

Buyer

AMETEK

Berwyn, Pennsylvania, United States

website


Category Company
Founded 1930
Sector Test/Measurement Equipment
Employees18,500
Revenue 5.5B USD (2021)
DESCRIPTION
Entrance to AMETEK's headquarters in Berwyn, Pennsylvania.
Entrance to AMETEK's headquarters in Berwyn, Pennsylvania.

AMETEK is a global manufacturer of electronic instruments and electromechanical devices. AMETEK was incorporated in 1930 and is based in Berwyn, Pennsylvania.


DEAL STATS #
Overall 13 of 70
Sector (Manufacturing) 3 of 8
Type (Add-on Acquisition) 9 of 63
State (Rhode Island) 1 of 1
Country (United States) 11 of 58
Year (2007) 2 of 6
Size (of disclosed) 33 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-05 Southern Aero Partners

Tulsa, Oklahoma, United States

Southern Aero Partners, Inc. provides a broad range of repair, overhaul and manufacturing services for commercial aircraft components.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-05 B & S Aircraft Parts and Accessories

Wichita, Kansas, United States

B&S Aircraft Parts & Accessories (B&S) provides third party MRO services, primarily for starter generators and hydraulic and fuel system components, for a variety of business aircraft and helicopter applications. B&S is the second acquisition AMETEK has made recently in the third party MRO market, building on its position in this attractive market.

Buy -

Seller(S) 2

DESCRIPTION

Hastings Equity Partners is a private investment firm focused on small to mid-sized enterprises in the industrial and energy services sector. Hastings looks to invest in and acquire North American companies with trailing EBITDA of $4 to $20 million. Hastings looks for control situations only and will consider funding buyouts (LBOs, MBOs), recapitalizations, and growth capital financings. Hastings Equity Partners was formed in 2004 and is based in Houston, Texas.


DEAL STATS #
Overall 2 of 20
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 6
State (Rhode Island) 2 of 2
Country (United States) 2 of 19
Year (2007) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-23 R.L. Drake

Franklin, Ohio, United States

R.L. Drake, LLC is a manufacturer of video signal modulation and transcoding equipment for cable television (CATV) headends. Headends are the primary network equipment that receives the core broadcast signal and converts and allocates the signal over different channels for distribution to end viewers. R.L. Drake sells headend equipment to CATV equipment distributors, systems integrators, CATV buying co-ops, service providers, and telephone companies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-08 Taylored Services

Los Angeles, California, United States

Taylored Services is a third-party logistics outsourced warehousing and distribution services company. TSI operates warehouses on the East and West Coast serving the ports of Newark and Long Beach where many of its customers import their products from Asia and Europe. Taylored Services was established in 1992 and is based in Los Angeles, California.

Buy -
SELLER

Admiralty Partners

Los Angeles, California, United States

Investor

website


Category Private Equity Firm
Founded 2006
PE ASSETS 70M USD
Size Small
Type Sector Focused
DESCRIPTION

Admiralty Partners is a specialist private equity firm founded by Jon Kutler, creator of Quarterdeck (later sold to Jefferies & Company). Admiralty targets companies in the aerospace, defense, and federal information technology industries. The Firm looks for businesses generating at least $25 million in sales and will consider opportunities valued up to $100 million. Prospective transactions include acquisitions, recapitalizations, and turnarounds. The Firm will not consider venture investments. Admiralty Partners was formed in 2006 and is based in Los Angeles, California.


DEAL STATS #
Overall 3 of 9
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 3 of 7
State (Rhode Island) 1 of 1
Country (United States) 3 of 7
Year (2007) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Trident Space & Defense

Torrance, California, United States

Trident Space & Defense located in Torrance, California is a recognized industry leader and global supplier of high reliability microelectronic products and services for the Aerospace and Military markets. Originally established in 1976 as a division of TRW (formerly known as TRW-CI), the division became part of privately held Vertical Circuits Inc. in 1999. With the launch of Trident Space & Defense in 2007 - the three legacy Mil/Aero business units in Torrance California (Electronic Components, Advanced Products Group and Ground Systems) are well positioned to build on a proven legacy of 30 successful years in supporting the industry at large with our high technology solutions and total commitment to customer service and support.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-29 AmSafe

Phoenix, Arizona, United States

AmSafe, Inc. is a provider of highly engineered, proprietary safety and securement systems for the aviation, air cargo, military and specialty vehicle markets.

Sell -