Transactions
December 20 2010
KippsDeSanto & Co. Advises Adaptive Materials on Its Sale to Ultra Electronics
KippsDeSanto & Co. is pleased to send you the attached press release announcing the acquisition of our client, Adaptive Materials, Inc. (“AMI”), by UK-based Ultra Electronics Holdings plc (“Ultra”). Headquartered in Ann Arbor, Michigan, AMI is a provider of portable power solutions based on miniaturized Solid Oxide Fuel Cell (“SOFC”) technology to military and commercial customers. Ultra completed the acquisition to expand into the burgeoning market for portable energy solutions. The transaction closed on December 31, 2010.
AMI designs, develops, and produces sophisticated fuel cells that generate between 50 and 500 watts of power and are capable of replacing energy sources from small batteries to generators and engines. The Company draws on its intellectual property and unique manufacturing capabilities to produce high-density power solutions that rely on readily-available, inexpensive propane fuel and offer increased device runtimes without adding weight, volume, emissions, or noise. AMI fuel cells can be leveraged across a range of applications, including small Unmanned Aerial Vehicles (“UAV”), soldier-portable electronics, remote sensors, emergency response radios, and recreational vehicles.
We believe this transaction demonstrates several key trends in the defense M&A environment:
• Increasing focus on technologies that can disruptively enhance capabilities and performance of existing platforms and assets (e.g. UAV that can fly 10 times longer)
• Strengthened appetite for soldier-portable power solutions that improve warfighter safety and effectiveness by minimizing incremental weight burden
• Keen interest in solutions that alleviate logistical burdens placed on the DoD’s supply chain
• Foreign-based defense contractors angling to penetrate the U.S. defense market through acquisitions of targets providing in-demand technologies
KippsDeSanto & Co. is an investment bank focused on delivering exceptional M&A and financing transaction results for leading technology and defense companies. For more information on KippsDeSanto & Co., please visit www.kippsdesanto.com.
We welcome the opportunity to discuss how KippsDeSanto & Co. can help you achieve your strategic objectives.
KippsDeSanto & Co., member FINRA/SIPC, is not affiliated with other companies mentioned herein
LEAD INVESTMENT BANKERS
Michael J. Misantone
KippsDeSanto & Co. is pleased to send you the attached press release announcing the acquisition of our client, Adaptive Materials, Inc. (“AMI”), by UK-based Ultra Electronics Holdings plc (“Ultra”). Headquartered in Ann Arbor, Michigan, AMI is a provider of portable power solutions based on miniaturized Solid Oxide Fuel Cell (“SOFC”) technology to military and commercial customers. Ultra completed the acquisition to expand into the burgeoning market for portable energy solutions. The transaction closed on December 31, 2010.
AMI designs, develops, and produces sophisticated fuel cells that generate between 50 and 500 watts of power and are capable of replacing energy sources from small batteries to generators and engines. The Company draws on its intellectual property and unique manufacturing capabilities to produce high-density power solutions that rely on readily-available, inexpensive propane fuel and offer increased device runtimes without adding weight, volume, emissions, or noise. AMI fuel cells can be leveraged across a range of applications, including small Unmanned Aerial Vehicles (“UAV”), soldier-portable electronics, remote sensors, emergency response radios, and recreational vehicles.
We believe this transaction demonstrates several key trends in the defense M&A environment:
• Increasing focus on technologies that can disruptively enhance capabilities and performance of existing platforms and assets (e.g. UAV that can fly 10 times longer)
• Strengthened appetite for soldier-portable power solutions that improve warfighter safety and effectiveness by minimizing incremental weight burden
• Keen interest in solutions that alleviate logistical burdens placed on the DoD’s supply chain
• Foreign-based defense contractors angling to penetrate the U.S. defense market through acquisitions of targets providing in-demand technologies
KippsDeSanto & Co. is an investment bank focused on delivering exceptional M&A and financing transaction results for leading technology and defense companies. For more information on KippsDeSanto & Co., please visit www.kippsdesanto.com.
We welcome the opportunity to discuss how KippsDeSanto & Co. can help you achieve your strategic objectives.
KippsDeSanto & Co., member FINRA/SIPC, is not affiliated with other companies mentioned herein
LEAD INVESTMENT BANKERS
Michael J. Misantone
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