M&A Deal Summary

Cerberus Capital Management Acquires Navistar Defense

On December 3, 2018, asset manager Cerberus Capital Management acquired defense company Navistar Defense from Navistar International

Acquisition Highlights
  • This is Cerberus Capital Management’s 2nd transaction in the Defense sector.
  • This is Cerberus Capital Management’s 43rd transaction in the United States.
  • This is Cerberus Capital Management’s 5th transaction in Michigan.

M&A Deal Summary
Date 2018-12-03
Target Navistar Defense
Sector Defense
Buyer(s) Cerberus Capital Management
Sellers(s) Navistar International
Deal Type Divestiture
Advisor(s) Renaissance Strategic Advisors (Financial)

Target

Navistar Defense

Madison Heights, Michigan, United States
Navistar Defense is a tactical wheeled vehicle original equipment manufacturer serving the military, law enforcement, and government agencies worldwide. Navistar Defense provides a complete portfolio of both tactical and commercial off-the-shelf military vehicles, as well as custom-tailored lifecycle support solutions to a global customer base. Since 2004, Navistar Defense has delivered approximately 37,000 vehicles across 28 countries and has access to Navistar’s global dealer network across 90 countries.

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Buyer(S) 1

Buyer

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.

DEAL STATS #
Overall 65 of 87
Sector (Defense) 2 of 2
Type (Divestiture) 10 of 14
State (Michigan) 5 of 5
Country (United States) 43 of 63
Year (2018) 10 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-15 Divarian

Madrid, Spain

Divarian is an owner and operator of a real estate assets. Divarian is based in Madrid, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-12 Sparton

De Leon Springs, Florida, United States

Sparton Corp. is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service, and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace, and Industrial & Commercial. Sparton was founded in 1900 and is based in De Leon Springs, Florida.

Buy -

Seller(S) 1

SELLER

Navistar International

Lisle, Illinois, United States
Category Company
Founded 1902
Sector Automotive
Revenue 11.3B USD (2019)
DESCRIPTION
Navistar's corporate headquarters in Lisle, Illinois.
Navistar's corporate headquarters in Lisle, Illinois.

Navistar is a manufacturer of commercial trucks, diesel engines and parts, school and commercial buses, and automotive chassis. Navistar was formerly known as International Harvester. Navistar was founded in 1902 and is based in Lisle, Illinois.

DEAL STATS #
Overall 7 of 7
Sector (Defense) 1 of 1
Type (Divestiture) 7 of 7
State (Michigan) 1 of 1
Country (United States) 7 of 7
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-02 Pure Power Technologies

Columbia, South Carolina, United States

Pure Power Technologies LLC is a provider of high-performance diesel fuel-injection systems and precision machining products and systems for medium- and heavy-duty truck applications.

Sell -
Mergr

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