M&A Deal Summary

Admiralty Partners Acquires GMA Cover

On June 22, 2011, private equity firm Admiralty Partners acquired defense company GMA Cover

Acquisition Highlights
  • This is Admiralty Partners’ 2nd transaction in the Defense sector.
  • This is Admiralty Partners’ 5th transaction in the United States.
  • This is Admiralty Partners’ 1st transaction in Michigan.

M&A Deal Summary
Date 2011-06-22
Target GMA Cover
Sector Defense
Buyer(s) Admiralty Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Angle Advisors LLC (Financial)

Target

GMA Cover

Port Huron, Michigan, United States
GMA Cover is a designer, developer and manufacturer of engineered textiles for military applications. These include soft vehicle covers, camouflage systems and parachutes. GMA Cover was founded in 1974 and is based in Port Huron, Michigan.

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Buyer(S) 1

Buyer

Admiralty Partners

Los Angeles, California, United States

Investor

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 7 of 10
Sector (Defense) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 4 of 4
State (Michigan) 1 of 2
Country (United States) 5 of 8
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-06 Marport Deep Sea Technologies

St. Johns, Newfoundland, Canada

Marport Deep Sea Technologies focuses on innovating, developing and marketing Software Defined Sonar® technology and products for a wide variety of underwater sensing and communication applications. Marport's target markets are Commercial Fisheries, Underwater Defence, Offshore Energy and Ocean Science. The company's headquarters are in St. Johns, Newfoundland, Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Alliance Spacesystems

Los Alamitos, California, United States

Alliance Spacesystems is a provider of high-performance composite structures for spacecraft and other high-tech applications where strength-to-weight ratio, superior stiffness and dimensional stability are key requirements. Alliance Spacesystems is based in Los Alamitos, California.

Buy -
Mergr

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