M&A Deal Summary

Whitcraft Acquires LAI International

On May 30, 2019, Whitcraft acquired manufacturer LAI International from RLJ Equity Partners and Monroe Capital

Acquisition Highlights
  • This is Whitcraft’s 2nd transaction in the Manufacturing sector.
  • This is Whitcraft’s 1st transaction in the United States.
  • This is Whitcraft’s 1st transaction in Maryland.

M&A Deal Summary

Date 2019-05-30
Target LAI International
Sector Manufacturing
Buyer(s) Whitcraft
Sellers(s) RLJ Equity Partners
Monroe Capital
Deal Type Add-on Acquisition

Target

LAI International

Westminster, Maryland, United States
LAI International, Inc. is a contract manufacturer to make complete precision-engineered components and assemblies for the aerospace, power generation, defense, medical and other advanced technology industries. LAI International was established in 1979 and is based in Westminster, Maryland.

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Buyer(S) 1

Buyer

Whitcraft

Eastford, Connecticut, United States

Category Company
Founded 1960
Sector Aerospace
Revenue 87M USD (2010)
DESCRIPTION

Whitcraft is a manufacturer of high quality, precision formed, machined and fabricated metal parts for the U.S. aerospace industry. The Company manufactures new and replacement jet engine and helicopter parts for large engine manufacturers serving both the commercial and military aircraft market. Whitcraft was founded in 1960 and is based in Eastford, Connecticut.


DEAL STATS #
Overall 2 of 3
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 2 of 3
State (Maryland) 1 of 1
Country (United States) 1 of 2
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-01 Reliable Manufacturing

Warrington, United Kingdom

Reliable Manufacturing Company is manufacturer of complex and semi-complex aircraft components and assemblies for the commercial, business and military markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-17 Evolution Aero

South Windsor, Connecticut, United States

Evolution Aero LLC manufactures parts and assemblies for the aerospace and power generation industries, providing customers with the finest in precision machining and design services. It is among an elite class of design-to-production manufacturers offering a “one-stop shop” from concept to completion, integrating the best new technologies and updated equipment and applying lean manufacturing principles to ensure consistently high quality.

Buy -

Seller(S) 2

SELLER

RLJ Equity Partners

Bethesda, Maryland, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 850M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RLJ Equity Partners LLC is a private equity firm focused on long term investments in North American middle-market companies. The Firm looks to invest $15 to $40 million per transaction in companies valued between $50 and $250 million. RLJ targets companies operating in the fields of aerospace/defense, auto/transportation, business services, consumer retail, media, and telecom. Types of transactions include corporate divestitures, buyouts, recapitalizations, growth equity, and add-on acquisitions. RLJ Equity Partners LLC was formed in 2006 and is based in Bethesda, Maryland.


DEAL STATS #
Overall 7 of 11
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (Maryland) 1 of 1
Country (United States) 6 of 9
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-09 Pro-Vac

Puyallup, Washington, United States

Pro-Vac is an environmental, infrastructure, and municipal services provider in the Pacific Northwest. Pro-Vac offers a comprehensive suite of essential support services to the infrastructure, municipal, and environmental markets, including hydro excavation, storm, and sewer maintenance, pipe/line jetting, industrial vacuum cleaning, CCTV inspection, commercial sweeping, tank rental, and other specialty services. Pro-Vac was founded in 2002 and is based in Puyallup, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-24 GrowersHouse

Phoenix, Arizona, United States

GrowersHouse offers the largest selection of hydroponic equipment for home growers, professionals, and large-scale commercial operations. GrowersHouse was founded in 2011 and is based in Phoenix, Arizona.

Buy -
SELLER

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago, Illinois.


DEAL STATS #
Overall 31 of 53
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 17 of 27
State (Maryland) 1 of 1
Country (United States) 31 of 53
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 Recorded Future

Somerville, Massachusetts, United States

Recorded Future is a technology that collects and analyzes vast amounts of data to deliver relevant cyber threat insights in real time. Recorded Future solution aggregates this rich intelligence with any other threat data sources, empowering security teams to collaborate on analysis and delivering intelligence wherever need it most, including rapid integration with existing security solutions. Recorded Future was founded in 2009 and is based in Somerville, Massachusetts.

Buy $780M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-10 Lanter Delivery Systems

Des Peres, Missouri, United States

Lanter Delivery Systems is a privately held company providing services for the overnight unattended delivery of time-sensitive parts and components for major auto, agriculture, and heavy-duty truck OEMs and industrial supply and equipment distributors. Lanter Delivery Systems was founded in 1981 and is based in Des Peres, Missouri.

Buy -