M&A Deal Summary

Textron Systems Acquires Overwatch Systems

On October 25, 2006, Textron Systems acquired defense company Overwatch Systems from Kelso for 325M USD

Acquisition Highlights
  • This is Textron Systems’ 1st transaction in the Defense sector.
  • This is Textron Systems’ largest (disclosed) transaction.
  • This is Textron Systems’ 1st transaction in the United States.
  • This is Textron Systems’ 1st transaction in Texas.

M&A Deal Summary
Date 2006-10-25
Target Overwatch Systems
Sector Defense
Buyer(s) Textron Systems
Sellers(s) Kelso
Deal Type Add-on Acquisition
Deal Value 325M USD

Target

Overwatch Systems

Austin, Texas, United States
website
Overwatch delivers multi-source intelligence (multi-INT), geospatial analysis and custom intelligence solutions to the Department of Defense, national agencies and civilian organizations. Overwatch enables analysts to integrate and leverage multiple intelligence sources to improve situational understanding and deliver actionable intelligence in support of counter-terrorism, irregular warfare and civil applications such as climate control, ecosystem management and environmental planning.

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Buyer(S) 1

Buyer

Textron Systems

Providence, Rhode Island, United States

website

Category Company
Sector Defense
DESCRIPTION

Textron Systems Corporation has been providing innovative solutions to the defense, homeland security and aerospace communities for more than 50 years. Known for its unmanned aircraft systems, advanced marine craft, armored vehicles, intelligent battlefield and surveillance systems, intelligence software solutions, precision smart weapons, piston engines, test and training systems, and total life cycle sustainment services, Textron Systems includes AAI Corporation, Lycoming Engines, Overwatch, Textron Defense Systems and Textron Marine & Land Systems.

DEAL STATS #
Overall 1 of 2
Sector (Defense) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2006) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-10 MillenWorks

Tustin, California, United States

MillenWorks produces unmanned and manned ground vehicles, high mobility off-road vehicles and advanced active damper suspension technology.

Buy -

Seller(S) 1

SELLER

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.

DEAL STATS #
Overall 7 of 53
Sector (Defense) 1 of 1
Type (Add-on Acquisition) 4 of 24
State (Texas) 1 of 6
Country (United States) 7 of 46
Year (2006) 4 of 4
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 Renfro Brands

Mount Airy, North Carolina, United States

Renfro Brands is a global manufacturer, designer, distributor, and marketer of legwear products. The Company provides a full line of branded and private label legwear products and is the licensee for leading brands such as Fruit of the Loom, Dr. Scholl’s, Polo/Ralph Lauren, Chaps, Carhartt, Russell, New Balance, Keds, Sperry, Vera Bradley, and Merrell. We also design, manufacture, market, and distribute our owned brands including K. Bell, Copper Sole, and Hot Sox. Renfro Brands was founded in 1921 and is based in Mount Airy, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Dakota Growers Pasta

Carrington, North Dakota, United States

Dakota Growers with approximately $5 billion North American pasta market, with leadership positions in the private label retail, food service and ingredient channels. where it has durum wheat milling and pasta production capabilities.

Buy -
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