M&A Deal Summary

Precision Castparts Acquires Synchronous Aerospace Group

On December 12, 2012, Precision Castparts acquired aerospace company Synchronous Aerospace Group from Littlejohn

Acquisition Highlights
  • This is Precision Castparts’ 10th transaction in the Aerospace sector.
  • This is Precision Castparts’ 21st transaction in the United States.
  • This is Precision Castparts’ 9th transaction in California.

M&A Deal Summary
Date 2012-12-12
Target Synchronous Aerospace Group
Sector Aerospace
Buyer(s) Precision Castparts
Sellers(s) Littlejohn
Deal Type Add-on Acquisition
Advisor(s) Lazard Ltd. (Financial)
Morrison Cohen (Legal)

Target

Synchronous Aerospace Group

Santa Ana, California, United States
Synchronous Aerospace Group, Inc. is a manufacturer of quality precision-machined parts and integrated kits and assemblies to the commercial and defense aerospace and space markets.

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Buyer(S) 1

Buyer

Precision Castparts

Portland, Oregon, United States
Category Company
Founded 1949
Sector Manufacturing
Employees29,900
Revenue 10.0B USD (2015)
DESCRIPTION

Precision Castparts is a manufacturer of complex metal components and products. It serves the aerospace, power, and general industrial markets. Precision Castparts was formed in 1953 and is headquartered in Portland, Oregon.

DEAL STATS #
Overall 23 of 31
Sector (Aerospace) 10 of 14
Type (Add-on Acquisition) 19 of 26
State (California) 9 of 14
Country (United States) 21 of 28
Year (2012) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Southwest United Industries

Oklahoma City, Oklahoma, United States

Southwest United Industries is a provider in complete metal finishing services as well as aviation component repair and overhaul from its 130,000 ft² facility in Tulsa. Southwest primarily serves the Aerospace & Defense industries but also supports the medical, oil & gas, and general industrial base as well.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-06 Primus Composites

United States

Primus Composites is a supplier of composite and metallic propulsion and structural composite components and assemblies. In addition to its composite operations, the Thailand operation also machines and processes metal components. Key customers include Airbus, Rolls Royce, Aircelle and Bombardier.

Sell -

Seller(S) 1

SELLER

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 16 of 48
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 8 of 22
State (California) 2 of 4
Country (United States) 13 of 44
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-27 Synventive Molding Solutions

Peabody, Massachusetts, United States

Synventive Molding Solutions, Inc. is a solutions provider to the injection molding industry. Synventive is a designers, manufacturers and suppliers of hot runner systems and related components to the automotive, electronics, healthcare, and consumer packaging industries. Hot runner systems channel molten plastic from injection molding machines into molds. These systems are used in the molding of a variety of plastic products ranging from small medical devices to large automobile parts.

Sell $335M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-09 CTI Foods

Wilder, Idaho, United States

CTI Foods is a provider of value-added, processed precooked, frozen and fresh food products to many of the country's leading quick service and casual dining restaurant chains. CTI Foods' major products include pre-cooked taco meat, steak and chicken fajita meat, soups and sauces, hamburger patties and dehydrated pinto beans. CTI Foods was founded in 2003 and is based in Wilder, Idaho.

Sell -
Mergr

Product

Company

Legal