M&A Deal Summary

AEA Investors Acquires Excelitas Technologies

On October 18, 2017, private equity firm AEA Investors acquired technology hardware company Excelitas Technologies from Veritas Capital

Acquisition Highlights
  • This is AEA Investors’ 2nd transaction in the Technology Hardware sector.
  • This is AEA Investors’ 69th transaction in the United States.
  • This is AEA Investors’ 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2017-10-18
Target Excelitas Technologies
Sector Technology Hardware
Buyer(s) AEA Investors
Sellers(s) Veritas Capital
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Excelitas Technologies

Waltham, Massachusetts, United States
Excelitas Technologies is a global provider of photonics technology solutions. The Company’s components, modules and sub-systems enable its customers to develop unique, technology-driven products that serve a broad range of growing end markets. Excelitas’ core capabilities include expertise in detection, optics, illumination and advanced electronics. The Company primarily targets high-growth applications within the life sciences, industrial, semiconductor, consumer and defense and aerospace markets. Excelitas Technologies was founded in 1931 and is based in Waltham, Massachusetts.

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Buyer(S) 1

Buyer

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.

DEAL STATS #
Overall 81 of 118
Sector (Technology Hardware) 2 of 2
Type (Secondary Buyout) 37 of 54
State (Massachusetts) 2 of 2
Country (United States) 69 of 103
Year (2017) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-28 Barnet Products

Englewood Cliffs, New Jersey, United States

Barnet Products is a global company with a commitment to finding, developing, and presenting fashionable new concepts, ingredients, and systems to its customers. The Company develops and sources unique ingredients with specialty performance characteristics and develops applications, creating formulas and solutions for beauty and care brands. Barnet Products was founded in 1987 and is based in Englewood Cliffs, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-01 Evoqua

Pittsburgh, Pennsylvania, United States

Evoqua provides water and wastewater treatment products, systems, and services for industrial and municipal customers. Its comprehensive, cost-effective, and reliable treatment systems and services reduce fresh water demand, ensure uninterrupted quantity and quality of water, and enable regulatory and environmental compliance. With a wide range of proven product brands and advanced water and wastewater treatment technologies, mobile and emergency water supply solutions, and service contract options, Evoqua helps cities provide clean water and industrial plants to maintain productivity and profitability. Evoqua was founded in 2014 and is based in Pittsburgh, Pennsylvania.

Sell -

Seller(S) 1

SELLER

Veritas Capital

New York, New York, United States
Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.

DEAL STATS #
Overall 15 of 27
Sector (Technology Hardware) 2 of 3
Type (Secondary Buyout) 5 of 9
State (Massachusetts) 1 of 3
Country (United States) 15 of 27
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-11 KeyPoint Government Solutions

Loveland, Colorado, United States

KeyPoint Government Solutions is a mission-critical provider of specialized investigative services to a broad range of U.S. Federal Government organizations spanning the civilian, defense and intelligence sectors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-03 Anaren

Syracuse, New York, United States

Anaren, Inc. is a designer and manufacturer of high-frequency RF and microwave microelectronics, components, and assemblies for the space, defense, and telecommunications sectors. Anaren, Inc. was established in 1967 and is based in Syracuse, New York.

Sell $775M
Mergr

Product

Company

Legal