M&A Deal Summary

L-3 Communications Acquires Doss Aviation

On September 12, 2017, L-3 Communications acquired aerospace company Doss Aviation from J.F. Lehman & Company and Barings Private Equity

Acquisition Highlights
  • This is L-3 Communications’ 14th transaction in the Aerospace sector.
  • This is L-3 Communications’ 33rd transaction in the United States.
  • This is L-3 Communications’ 1st transaction in Colorado.

M&A Deal Summary
Date 2017-09-12
Target Doss Aviation
Sector Aerospace
Buyer(s) L-3 Communications
Sellers(s) J.F. Lehman & Company
Barings Private Equity
Deal Type Add-on Acquisition

Target

Doss Aviation

Colorado Springs, Colorado, United States
Department of Defense (DOD) is a provider of flight training, aircraft maintenance and modification, maintenance training, fuels management, transient aircraft support services, air traffic control, and other airfield management services.

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Buyer(S) 1

Buyer

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 42 of 45
Sector (Aerospace) 14 of 14
Type (Add-on Acquisition) 34 of 37
State (Colorado) 1 of 1
Country (United States) 33 of 36
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-22 Open Water Power

Somerville, Massachusetts, United States

Open Water Power, Inc. is a developer of safe and high-energy-density undersea power generation technologies for use by Unmanned Undersea Vehicles (UUVs) and other maritime platforms. Its breakthrough technology enables safe power generation solutions for UUVs and results in significant safety and endurance improvements over current technologies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-13 Adaptive Methods

Centreville, Virginia, United States

Adaptive Methods, Inc. is a systems engineering company that delivers Undersea Warfare (USW) and Anti-Submarine Warfare (ASW) capabilities for U.S. military customers. It is also developing autonomy and sensor payload solutions for use by Unmanned Undersea Vehicles (UUVs).

Buy -

Seller(S) 2

SELLER

J.F. Lehman & Company

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 4.5B USD
Size Large
Type Sector Focused
DESCRIPTION

JF Lehman is a specialist private equity firm that targets investments in the defense, aerospace and maritime industries. JF Lehman looks for lower middle-market company opportunities with established products but that not may not be realizing their full potential. The Firm will only consider control based investment situations. J.F. Lehman was formed in 1992 and has offices in New York, London, and Washington DC.

DEAL STATS #
Overall 18 of 27
Sector (Aerospace) 1 of 2
Type (Add-on Acquisition) 8 of 11
State (Colorado) 1 of 1
Country (United States) 17 of 26
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-03 Aish Technologies

Poole, United Kingdom

Aish Technologies Ltd. is a provider of proprietary situational awareness and LED lighting systems for naval vessels, military and commercial aircraft and military ground vehicles. AGI's core product lines include naval visual landing systems, wind and speed sensor systems for naval and aviation applications, naval filtration equipment, expeditionary airfield lighting, aircraft and ground vehicle lights, night vision test equipment and military aerospace sub-system repair and overhaul solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-26 Waste Control Specialists

Dallas, Texas, United States

Waste Control Specialists is a provider of secure, safe and compliant waste treatment, storage and disposal services. Waste Control Specialists was founded in 1989 and is based in Dallas, Texas.

Buy -
SELLER

Barings Private Equity

Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 21 of 37
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 16 of 23
State (Colorado) 1 of 1
Country (United States) 19 of 33
Year (2017) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 Service Logic

Charlotte, North Carolina, United States

Service Logic is an independent provider of aftermarket maintenance, repair, and replacement services for commercial HVAC equipment, chilled water systems, and building automation and control systems. Service Logic was formed in 1945 and is based in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-27 Tranzonic Companies

Knoxville, Tennessee, United States

Tranzonic Companies is a manufacturer and distributor of consumable personal care, cleaning, and MRO products sold to over 30,000 industrial, commercial, institutional, and medical customers. Primary products include wipers, adult incontinence, personal hygiene, and related products with generic and private label brands. The Tranzonic Companies was established in 1933 and is based in Knoxville, Tennessee.

Sell -
Mergr

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