M&A Deal Summary

Spectra Acquires Flight Display Systems

On February 18, 2021, Spectra acquired aerospace company Flight Display Systems from Harbert Private Capital and Fidus Investment

Acquisition Highlights
  • This is Spectra’s 1st transaction in the Aerospace sector.
  • This is Spectra’s 3rd transaction in the United States.
  • This is Spectra’s 2nd transaction in Georgia.

M&A Deal Summary
Date 2021-02-18
Target Flight Display Systems
Sector Aerospace
Buyer(s) Spectra
Sellers(s) Harbert Private Capital
Fidus Investment
Deal Type Merger

Target

Flight Display Systems

Alpharetta, Georgia, United States
Flight Display Systems is a designer, developer, and light manufacturer of avionics focusing on cabin electronics for business and commercial aircraft and ruggedized special mission monitors and other retrofit solutions for military aircraft. Flight Display Systems was formed in 2001 and is based in Alpharetta, Georgia.

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Buyer(S) 1

Buyer

Spectra

Alpharetta, Georgia, United States
Category Company
Founded 2021
Sector Defense
DESCRIPTION

Spectra is a diversified designer and manufacturer of highly engineered avionics and electronics solutions primarily for the aerospace and defense technology market. Spectra offers its customers a differentiated portfolio of proprietary products that span the entire data capture lifecycle of recording, processing, routing, and ultimately displaying mission-critical data. Spectra was formed in 2021 and is based in Alpharetta, Georgia.

DEAL STATS #
Overall 3 of 4
Sector (Aerospace) 1 of 1
Type (Merger) 3 of 3
State (Georgia) 2 of 2
Country (United States) 3 of 3
Year (2021) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-18 Calculex

Las Cruces, New Mexico, United States

Calculex, Inc. provides integrated, interoperable airborne flight and mission data recording, processing, and routing systems. Calculex is an agile, quick-to-market small business with a verifiable track record of rapidly supplying affordable warfighting solutions to the USAF, USN, USMC, US Army, and other international armed forces. Calculex was formed in 1986 and is based in Las Cruces, New Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-12 Galleon

Oslo, Norway

Galleon designs and sells advanced Commercial-Off-The-Shelf (COTS)-based embedded computing solutions for a variety of military and commercial applications that require high bandwidth, high storage, and low weight requirements. The company's products include servers, computers, network-attached storage (NAS) devices, data recorders, and board-level solutions. Galleon was founded in 2009 and headquartered in Oslo, Norway, with offices in the UK and Texas

Buy -

Seller(S) 2

SELLER

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.

DEAL STATS #
Overall 39 of 43
Sector (Aerospace) 1 of 1
Type (Merger) 1 of 1
State (Georgia) 6 of 7
Country (United States) 38 of 42
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-13 Springbot

Atlanta, Georgia, United States

Springbot is a marketing automation and attribution platform that brings together your campaigns across email, web, social, and more, while handy automation features save your time and create multi-channel engagements with your customers. Springbot was founded in 2012 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-22 Connectbase

Westborough, Massachusetts, United States

Connectbase provides sales enablement software built for the network connectivity industry that automates critical network buying and selling workflows and enables carriers and their partners to increase sales and more efficiently compete for new prospect opportunities. The Company’s core platform, known as The Connected World, is a map interface powered by a unique, proprietary dataset that includes curated data on more than 350 million commercial buildings, 5,800 network routes, and 16 million enterprise tenants. Connectbase was founded in 2015 and is based in Westborough, Massachusetts.

Buy -
SELLER

Fidus Investment

Category Business Development Company
Founded 2011
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Fidus Investment Corp. is a business development company that looks to provide financing solutions for small to mid-sized companies with $10 to $150 million in revenue. Fidus looks to invest mezzanine debt, senior secured debt and equity in businesses with proven business models, leading market positions, high free cash flow, and strong management teams. Industries of interest include business services, industrial products, value-added distribution, healthcare products/services, consumer products, consumer services, aerospace/defense, energy services, transportation, government IT, and niche manufacturing. Fidus Investment Corp. is based in Evanston, Illinois.

DEAL STATS #
Overall 7 of 10
Sector (Aerospace) 1 of 1
Type (Merger) 1 of 1
State (Georgia) 1 of 1
Country (United States) 7 of 10
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-28 Garlock Printing & Converting

Gardner, Massachusetts, United States

Garlock Printing & Converting is a full-service flexible packaging converter that provides solutions for a wide variety of food, consumer and industrial applications. Garlock Printing & Converting was founded in 1987 and is based in Gardner, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Accent Food Services

Pflugerville, Texas, United States

Accent Food Services is a provider of complete menu of refreshment solutions including vending, self-check-out markets, office coffee, pantry and catering to thousands of customers, providing superior customer service and innovation. Accent Food Services is based in Pflugerville, Texas.

Sell -
Mergr

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