M&A Deal Summary

Ducommun Acquires Dynabil Industries

On January 5, 2009, Ducommun, Inc. acquired aerospace company Dynabil Industries, Inc. from DeltaPoint Capital Management LLC, Pine Street Capital Partners and HSBC Capital for 47M USD

Acquisition Highlights
  • This is Ducommun’s 1st transaction in the Aerospace sector.
  • This is Ducommun’s 2nd largest (disclosed) transaction.
  • This is Ducommun’s 3rd transaction in the United States.
  • This is Ducommun’s 1st transaction in New York.

M&A Deal Summary

Date 2009-01-05
Target Dynabil Industries, Inc.
Sector Aerospace
Buyer(s) Ducommun, Inc.
Sellers(s) DeltaPoint Capital Management LLC
Pine Street Capital Partners
HSBC Capital
Deal Type Add-on Acquisition
Deal Value 47M USD

Target

Dynabil Industries, Inc.

Coxsackie, New York, United States
website
Dynabil Industries, Inc. is a manufacturer of precision sheet metal components and assemblies for the aerospace industry.

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Buyer(S) 1

Buyer

Ducommun, Inc.

Santa Ana, California, United States

website


Category Company
Founded 1849
SectorManufacturing
Employees2,450
Revenue 629M USD (2020)
DESCRIPTION
Ducommun's corporate headquarters in Carson, California.
Ducommun's corporate headquarters in Carson, California.

Ducommun is a global provider of engineering and manufacturing services for high-performance products and high-cost-of failure applications used primarily in the aerospace, defense, industrial, natural resources, medical and other industries. Ducommun operates through two primary business units: Ducommun LaBarge Technologies and Ducommun AeroStructures. Ducommun LaBarge Technologies manufactures electronics that include complex cable assemblies and interconnect systems, printed circuit board assemblies, and higher-level electronic, electromechanical and mechanical assemblies. Ducommun AeroStructures manufactures structural components, structural assemblies and bonded components for a variety of aircraft. Ducommun was originally established in 1849 and is based in Carson, California.


DEAL STATS #
Overall 3 of 5
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 3 of 4
State (New York) 1 of 1
Country (United States) 3 of 5
Year (2009) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-05 CMP Display Systems, Inc.

Newbury Park, California, United States

CMP is a manufacturer of incandescent, electroluminescent and LED edge lit panels and assemblies for the aerospace and defense industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-28 LaBarge, Inc.

United States

LaBarge, Inc. is a provider of cutting-edge components and systems to a variety of growth manufacturing industries in the U.S. and abroad.

Buy $338M

Seller(S) 3

SELLER

DeltaPoint Capital Management LLC

Rochester, New York, United States

Investor

website


Category Merchant Bank
Founded 1996
SizeSmall
Type Sector Agnostic
DESCRIPTION

DeltaPoint Capital Management is a private equity firm that targets investments in privately held New York based companies with at least $10 million in sales. Prospective transaction situations include management led buyouts, generational transitions, acquisition financings, recapitalizations, divestitures, and growth capital financings. DeltaPoint will consider investments in manufacturing, distribution, and specialized services. The Firm will not invest in retail, venture capital, early stage, or turnaround situations. DeltaPoint was formed in 1996 and is based in Rochester, New York.


DEAL STATS #
Overall 2 of 5
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (New York) 2 of 5
Country (United States) 2 of 5
Year (2009) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-17 Climax Manufacturing Company, Inc.

Lowville, New York, United States

Climax Manufacturing Company was formed in 1902 by Samuel Hirschey, who invented and subsequently patented and manufactured chicken incubators and brooders. About 10 years later, the packaging division began to make fiberboard cheese drums to support local cheese production; it then branched out into meat packers and other folding-carton applications. Today the Company is a leading producer of retail gift boxes and supermarket deli and bakery packaging. In the mid 1930?s, Climax acquired Carthage Papermakers, a manufacturer of recycled, uncoated paperboard. While much of the Paperboard Division?s recycled paperboard is still consumed by the Packaging Division, it has also become the leading producer of matboard used in picture framing supplied to the graphics arts industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-02-23 High Falls Brewing Co., Inc.

Rochester, New York, United States

High Falls Brewing Company, Inc. engages in brewing, importing, marketing, and selling beer and malt beverages in the United States.

Sell -
SELLER

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2004
SizeSmall
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners (PSCP) provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $10 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.


DEAL STATS #
Overall 3 of 8
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 1 of 4
State (New York) 1 of 2
Country (United States) 3 of 8
Year (2009) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-01 Vision Government Solutions, Inc.

Hudson, Massachusetts, United States

Vision Appraisal Technology, Inc. develops appraisal software and provides appraisal services to towns and municipalities. Vision provides unparalleled software products, unrivaled service and unmatched appraisal expertise to help municipalities value properties and distribute and collect property taxes. Vision Government Solutions was founded in 1975 and is based in Hudson, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-01 Fischbein LLC

Statesville, North Carolina, United States

Fischbein LLC ("Fischbein") designs, manufactures, and distributes packaging and material handling equipment. The Company offers filling, weighing, closing, handling, palletizing equipment, and sewing and sealing equipment. Fischbein is headquartered in Statesville, North Carolina.

Sell -
SELLER

HSBC Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 1991
PE ASSETS 1.6B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

HSBC Capital (North America) the US and Canada principal investments arm of HSBC. HSBC Capital consists of HSBC Capital Canada and HSBC Capital USA. The Group focuses on making private equity and mezzanine investments in profitable, mid-market companies and select real estate transactions. The Group will consider both control and minority positions. Investment proceeds are generally used to support buyouts, expansion financings, recapitalizations, and real estate acquisitions. In addition to targeting US based opportunities, the Group will also consider investments in Latin America. Broad sectors of interest include manufacturing, service, and distribution. HSBC Capital was formed in 1991 and is based in New York City, HSBC Capital has become Graycliff partners on Dec 2011.


DEAL STATS #
Overall 4 of 17
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 2 of 7
State (New York) 3 of 6
Country (United States) 4 of 17
Year (2009) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-27 Tulsa Welding School, Inc.

Tulsa, Oklahoma, United States

Tulsa Welding School, the largest accredited welding school in the United States. The school offers educational diploma programs in structural welding and welding technology through two campuses located in Tulsa, OK and Jacksonville, FL.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-23 Balance Bar Co.

New York, New York, United States

Balance Bar Co. is a provider of energy bars and nutrition bars.

Buy -