M&A Deal Summary

Branford Castle Partners and Brookside Capital Partners Acquire Hoffman Engineering

On October 23, 2024, private equity firm Branford Castle Partners and mezzanine finance firm Brookside Capital Partners acquired defense company Hoffman Engineering from Trident Maritime Systems

Acquisition Highlights
  • This is Branford Castle Partners’ 1st and Brookside Capital Partners’ 1st transaction in the Defense sector.
  • This is Branford Castle Partners’ 18th and Brookside Capital Partners’ 65th transaction in the United States.
  • This is Branford Castle Partners’ 1st and Brookside Capital Partners’ 2nd transaction in Connecticut.

M&A Deal Summary
Date 2024-10-23
Target Hoffman Engineering
Sector Defense
Buyer(s) Branford Castle Partners
Brookside Capital Partners
Sellers(s) Trident Maritime Systems
Deal Type Divestiture
Advisor(s) Philpott Ball & Werner LLC (Financial)

Target

Hoffman Engineering

Stamford, Connecticut, United States
Hoffman Engineering provides proprietary situational awareness solutions for mission-critical aerospace and defense applications. Hoffman Engineering was founded in 1955 and is based in Stamford, Connecticut.

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Buyer(S) 2

Buyer

Branford Castle Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Branford Castle is a private investment firm that seeks investments in traditional companies with stable cash flows. Branford Castle prefers investing in 'old economy' businesses valued up to $100 million. Brandford will consider public or private companies, but the Firm will not invest in bankrupt, turnaround, or distressed situations. Sectors of interest include manufacturing, commercial distribution, services, consumer products, publishing, restaurants, and infrastructure. Branford Castle was formed in 1986 and is based in New York City.

DEAL STATS #
Overall 19 of 20
Sector (Defense) 1 of 1
Type (Divestiture) 5 of 5
State (Connecticut) 1 of 1
Country (United States) 18 of 19
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-03 Earthlite

Vista, California, United States

Earthlite manufactures massage equipment including, stationary and electric lift massage tables, massage chairs, massage accessories, and massage therapy supplies. It has a wide selection of products for various massage therapy needs. Earthlite was founded in 1987 and is based in Vista, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-12 Testek Solutions

Wixom, Michigan, United States

Testek Solutions designs, manufactures, and supports highly reliable aerospace and defense test equipment and testing facilities for OEMs, MROs, and operators. Testek Solutions was founded in 1969 and is based in Wixom, Michigan.

Buy -
Buyer

Brookside Capital Partners

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Brookside Capital Partners is an investment management firm focused on stable lower-middle market companies in the US. The Firm typically commits $5 to $30 million per transaction to support buyouts, leveraged recapitalizations, strategic acquisitions and growth. Potential businesses generally have revenue greater than $15 million, and EBITDA of at least $4 million. Industries of interest include business services, consumer, distribution, healthcare, manufacturing, and transportation and logistics. Brookside Capital Partners was established in 2001 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 65 of 65
Sector (Defense) 1 of 1
Type (Divestiture) 2 of 2
State (Connecticut) 2 of 2
Country (United States) 65 of 65
Year (2024) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-16 Stueve Construction

Algona, Iowa, United States

Stueve Construction is a design, engineering, and construction firm focused primarily on the construction of dry fertilizer storage facilities. Stueve Construction was founded in 1958 and is based in Algona, Iowa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-04 Principal Sloan

San Angelo, Texas, United States

Principal Sloan is an electronics component provider to the electrical sign industry in North America. The company manufactures and sells UL-recognized LED sign modules and cabinet products for new and retrofit sign applications, as well as neon and LED power supplies and other sign accessories. Principal Sloan was founded in 2010 and is based in San Angelo, Texas.

Sell -

Seller(S) 1

SELLER

Trident Maritime Systems

Arlington, Virginia, United States
Category Company
Founded 1916
Sector Marine
DESCRIPTION

Trident Maritime Systems provides turnkey marine systems for government and commercial maritime customers, targeting the new ship construction, retrofit and repair markets. Trident’s integrated maritime solutions include the design, engineering and installation of numerous systems, including electrical distribution, automation and control, HVAC, cargo handling, fire suppression, heavy lift and access, joiner and insulation. The Company supports the largest U.S. Navy vessel programs as well as large commercial shipbuilders and owners. Trident Maritime Systems was founded in 1916 and is based in Arlington, Virginia.

DEAL STATS #
Overall 2 of 2
Sector (Defense) 1 of 1
Type (Divestiture) 2 of 2
State (Connecticut) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 Custom Alloy

High Bridge, New Jersey, United States

Custom Alloy is a manufacturer of specialty metals for seamless and welded pipe fittings & forgings, predominantly for customers requiring time-critical maintenance or repair. Custom Alloy was formed in 1968 and is based in High Bridge, New Jersey.

Buy -
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