M&A Deal Summary

FLIR Systems Acquires Aeryon Labs

On January 28, 2019, FLIR Systems acquired technology hardware company Aeryon Labs from Summit Partners for 200M USD

Acquisition Highlights
  • This is FLIR Systems’ 7th transaction in the Technology Hardware sector.
  • This is FLIR Systems’ 4th largest (disclosed) transaction.
  • This is FLIR Systems’ 4th transaction in Canada.
  • This is FLIR Systems’ 3rd transaction in Ontario.

M&A Deal Summary
Date 2019-01-28
Target Aeryon Labs
Sector Technology Hardware
Buyer(s) FLIR Systems
Sellers(s) Summit Partners
Deal Type Add-on Acquisition
Deal Value 200M USD

Target

Aeryon Labs

Waterloo, Ontario, Canada
Aeryon Labs, Inc. is the premier manufacturer of small Unmanned Aerial Systems (sUAS) and mission control software. Aeryon Labs is based in Waterloo, Ontario.

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Buyer(S) 1

Buyer

FLIR Systems

Wilsonville, Oregon, United States
Category Company
Founded 1978
Sector Electronics
Employees4,265
Revenue 1.9B USD (2019)
DESCRIPTION

FLIR Systems is a maker of sensor systems that enhance perception and heighten awareness. FLIR Systems leverages thermal imaging and adjacent technologies to provide innovative, intelligent solutions for security and surveillance, environmental and condition monitoring, outdoor recreation, machine vision, navigation, and advanced threat detection. FLIR Systems was formed in 1978 and is based in Wilsonville, Oregon.

DEAL STATS #
Overall 23 of 26
Sector (Technology Hardware) 7 of 9
Type (Add-on Acquisition) 17 of 18
State (Ontario) 3 of 3
Country (Canada) 4 of 4
Year (2019) 1 of 4
Size (of disclosed) 4 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-11 Acyclica

Denver, Colorado, United States

Acyclica, Inc. is a developer of software for automotive roadway and intersection data generation and analysis. Acyclica offers high-resolution, real-time traffic information to transportation department end-users to make roads safer, reduce congestion, and improve overall efficiency and performance of thoroughfares. Acyclica, Inc. was founded in 2011 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-11 Endeavor Robotic

Chelmsford, Massachusetts, United States

Endeavor Robotic, Inc. is a provider of ground-based robots to the U.S. Department of Defense. Endeavor Robotic partner with U.S. and international defense forces, law enforcement, energy and industrial users to design and build innovative robotic solutions that support a wide range of missions. Endeavor Robotic, Inc. was founded in 2016 and is based in Chelmsford, Massachusetts.

Buy $385M

Seller(S) 1

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 234 of 285
Sector (Technology Hardware) 14 of 16
Type (Add-on Acquisition) 105 of 127
State (Ontario) 2 of 2
Country (Canada) 4 of 4
Year (2019) 1 of 8
Size (of disclosed) 31 of 49
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-22 Patriot Growth Partners

Ft. Washington, Pennsylvania, United States

Patriot Growth Partners is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. The company's collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. It creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot Growth Partners was founded in 2019 and is based in Ft. Washington, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-05 Club Champion

Willowbrook, Illinois, United States

Club Champion is one of the largest premium custom golf club fitting retailers in the world, with more than 45 locations across the United States. Club Champion uses highly trained fitters and the latest in ball flight measuring technology to deliver a Tour-quality fitting experience using an unbiased approach with the goal of producing longer, more accurate shots to lower golfers’ scores. Club Champion was founded in 2010 and is based in Willowbrook, Illinois.

Sell -
Mergr

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