M&A Deal Summary

AIRMAR Technology Acquires Marport Deep Sea Technologies

On October 14, 2013, AIRMAR Technology acquired marine company Marport Deep Sea Technologies from Hastings Equity Partners and Admiralty Partners

Acquisition Highlights
  • This is AIRMAR Technology’s 1st transaction in the Marine sector.
  • This is AIRMAR Technology’s 1st transaction in Canada.
  • This is AIRMAR Technology’s 1st transaction in Newfoundland.

M&A Deal Summary
Date 2013-10-14
Target Marport Deep Sea Technologies
Sector Marine
Buyer(s) AIRMAR Technology
Sellers(s) Hastings Equity Partners
Admiralty Partners
Deal Type Add-on Acquisition

Target

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.

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Buyer(S) 1

Buyer

AIRMAR Technology

Milford, New Hampshire, United States
Category Company
Founded 1982
Sector Test/Measurement Equipment
DESCRIPTION

Airmar Technology Corporation consists of an engineering lab, model shop, and injection molding machines, in addition to state of the art assembly and testing areas. The company is dedicated to manufacturing transducers of the highest quality.

DEAL STATS #
Overall 1 of 1
Sector (Marine) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Newfoundland) 1 of 1
Country (Canada) 1 of 1
Year (2013) 1 of 1

Seller(S) 2

SELLER

Hastings Equity Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
Size Middle-Market
Type Sector Focused
DESCRIPTION

Hastings Equity Partners is a private investment firm focused on small to mid-sized enterprises in the business and industrial services sector. Hastings looks to invest in and acquire North American companies with trailing EBITDA of $5 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 Boston, Massachusetts.

DEAL STATS #
Overall 9 of 20
Sector (Marine) 1 of 1
Type (Add-on Acquisition) 4 of 6
State (Newfoundland) 1 of 1
Country (Canada) 1 of 1
Year (2013) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-05 CP Energy Services

Weatherford, Oklahoma, United States

CP Energy Services is a provider of water hauling, disposal, and acid services for oil & gas exploration and production companies in the Texas Panhandle and Western Oklahoma. The company provides flow back and well-testing services in support of oil & gas exploration and production companies in the Granite Wash, Permian and Cana-Woodford plays.

Sell $105M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-09 Mustang Extreme Environmental Services

Fairmont, West Virginia, United States

Mustang Extreme Environmental Services provides oilfield environmental containment services in the Marcellus Shale, Utica Shale, Eagle Ford, Permian Basin, and other Mid-Continent sites. The company specializes in the environmental lining, above-ground storage tanks, composite rig mats, secondary steel wall containment systems, and rig vac systems. Founded in 2007, the company has locations in West Virginia, Pennsylvania, Texas, Oklahoma and New Mexico.

Buy -
SELLER

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 9
Sector (Marine) 1 of 1
Type (Add-on Acquisition) 5 of 7
State (Newfoundland) 1 of 1
Country (Canada) 1 of 1
Year (2013) 1 of 1
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-14 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.

Sell -
Mergr

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