M&A Deal Summary

American Industrial Partners Acquires Crestview Aerospace

On July 3, 2018, private equity firm American Industrial Partners acquired aerospace company Crestview Aerospace from L-3 Communications for 540M USD

Acquisition Highlights
  • This is American Industrial Partners’ 3rd transaction in the Aerospace sector.
  • This is American Industrial Partners’ 6th largest (disclosed) transaction.
  • This is American Industrial Partners’ 31st transaction in the United States.
  • This is American Industrial Partners’ 2nd transaction in Florida.

M&A Deal Summary
Date 2018-07-03
Target Crestview Aerospace
Sector Aerospace
Buyer(s) American Industrial Partners
Sellers(s) L-3 Communications
Deal Type Divestiture
Deal Value 540M USD

Target

Crestview Aerospace

Crestview, Florida, United States
Crestview Aerospace provides aircraft structures, major airframe assemblies and military aircraft modifications for leading prime contractors and original equipment manufacturers (OEMs). Crestview Aerospace was founded in 1964 and is based in Crestview, Florida.

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Buyer(S) 1

Buyer

American Industrial Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

American Industrial Partners is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, the Firm seeks businesses with at least $500 million of revenue and the Firm will consider transactions valued up to $2 billion. Operating characteristics of prospective businesses include historical record of strong free cash flows, opportunities to drive value through operating enhancements, and sustainable competitive advantages. American Industrial Partners will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.

DEAL STATS #
Overall 35 of 53
Sector (Aerospace) 3 of 4
Type (Divestiture) 10 of 19
State (Florida) 2 of 4
Country (United States) 31 of 46
Year (2018) 2 of 5
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Vertex

Madison, Mississippi, United States

Vertex delivers integrated turnkey lifecycle support from concept definition to engineering and manufacturing, through the end of life support of complex systems and platforms, Vertex offerings include all levels of aviation maintenance, worldwide contractor logistics support, systems engineering and integration, specialized onsite mission execution, high consequence training programs for defense and commercial customers, and integrated supply-chain solutions. Vertex is based in Madison, Mississippi.

Buy $540M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-05 CR Mining

Chatswood, Australia

CR Mining is a global provider of innovative Productivity Technology solutions to the world’s leading mining operations, including productivity-enhancing Digital Technology, Surface Mining Technology, and Wear Protection and Processing. CR Mining’s broad, highly-engineered product range is backed by intellectual property developed over decades of experience and encompasses cast lip systems, ground engaging tools (“GET”) and lock systems, dragline buckets, dragline rigging and locks, Titan 3330™ load haul optimization and Titan 3620™ GET productivity optimization systems, conveyor accessories, stone dusting systems, and plate block and wear. CR Mining operates globally, with dual headquarters in the USA and Australia, technology leading manufacturing facilities across Australia and China, and a dense network of dealer locations covering all major mining regions.

Buy -

Seller(S) 1

SELLER

L-3 Communications

New York, New York, United States
Category Company
Founded 1997
Sector Technology Hardware
Employees38,000
Revenue 9.6B USD (2017)
DESCRIPTION

L3 Technologies, Inc. is an american company that supplies command and control, communications, intelligence, surveillance and reconnaissance systems and products, avionics, ocean products. L3 Technologies was founded in 1997 and is based in New York.

DEAL STATS #
Overall 8 of 9
Sector (Aerospace) 3 of 3
Type (Divestiture) 7 of 8
State (Florida) 3 of 3
Country (United States) 7 of 8
Year (2018) 2 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-02 Applied Defense Solutions

Columbia, Maryland, United States

Applied Defense Solutions, Inc. is an intelligence community, DoD, NASA and other customers with space systems mission planning, space exploration and satellite operations, protection and resiliency. Applied Defense Solutions was founded in 2005 and is based in Columbia, Maryland.

Buy $50M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 ASV Global

Broussard, Louisiana, United States

ASV Global, LLC is an unmanned surface vessel (USV) and autonomous vessel control systems company. ASV delivers surface vessels in a range of sizes, currently from 10 to 42 feet, with proprietary software and control systems and proven unmanned system autonomy architectures. These time-tested capabilities have been demonstrated on multiple vessel types and sizes with over 1,500 operating days of service. Additionally, the company’s autonomy systems are consistent with the International Regulations for Preventing Collisions at Sea, 1972 (COLREGs) published by the International Maritime Organization.

Buy -
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