Transactions
April 20 2017
KippsDeSanto & Co. Advises BEI Precision Systems and Space Company, Inc. on its Sale to investment affiliates of J.F. Lehman & Company
KippsDeSanto & Co. is pleased to announce the sale of BEI Precision Systems & Space Company, Inc. (“BEI PSSC” or the “Company”), a subsidiary of InnoVista Sensors Ltd., a portfolio company of The Carlyle Group, PAI Partners, and Schneider Electric, to investment affiliates of J.F. Lehman & Company. BEI PSSC is a leading provider of precision positioning sensor technologies, which it delivers through advanced design, manufacturing, and testing for space, defense, and critical infrastructure applications. The Company’s product portfolio includes a range of highly accurate, reliable, and resilient instruments for use in the most rugged and extreme environments.
Headquartered in Maumelle, AR, BEI PSSC provides custom precision positioning sensors and instruments for sensitive mission-critical Programs of Record. The Company’s product portfolio includes scanners, optical encoder-based positioning systems, and precision accelerometers. The Company is the inventor of the optical encoder and has designed and manufactured critical systems such as the Hubble Space Telescope Fine Guidance System. Today, BEI PSSC provides critical engineering expertise and hardware to support the Spherical Situational Awareness on the Joint Strike Fighter, high resolution and accuracy hardware for the Joint Polar Satellite System and the Geostationary Operational Environmental Satellite, and advanced acceleration monitoring for aircraft, such as the Blackhawk. BEI PSSC’s team of highly-qualified engineers holds a unique combination of mechanical, electrical, optical, and software engineering expertise required to develop, through in-house research & development, some of the most accurate positioning and sensor instruments in the market. Combining industry-leading engineering capabilities and domain knowledge of customer requirements has enabled BEI PSSC to greatly expand and influence U.S. space and defense capabilities.
We believe this transaction demonstrates several key trends in the aerospace and defense M&A environment:
• Companies holding single-source status on well-funded, mission-critical Programs of Record and enduring platforms are in high demand
• Significant value continues to be derived from companies with deeply-embedded relationships with key aerospace and defense customers, especially those aligned with favorable budget forecasts
• Both strategic and private equity buyers remain actively focused on acquiring high-end design and manufacturing capabilities built on a foundation of proprietary processes and trade secrets
• Private equity firms with a keen understanding of the aerospace and defense market are able to leverage today’s strong credit market to be competitive with strategic buyers
LEAD INVESTMENT BANKERS
Karl M. Schmidt
Kate Troendle
Brian T. Tunney
Nathan C. Wilson
KippsDeSanto & Co. is pleased to announce the sale of BEI Precision Systems & Space Company, Inc. (“BEI PSSC” or the “Company”), a subsidiary of InnoVista Sensors Ltd., a portfolio company of The Carlyle Group, PAI Partners, and Schneider Electric, to investment affiliates of J.F. Lehman & Company. BEI PSSC is a leading provider of precision positioning sensor technologies, which it delivers through advanced design, manufacturing, and testing for space, defense, and critical infrastructure applications. The Company’s product portfolio includes a range of highly accurate, reliable, and resilient instruments for use in the most rugged and extreme environments.
Headquartered in Maumelle, AR, BEI PSSC provides custom precision positioning sensors and instruments for sensitive mission-critical Programs of Record. The Company’s product portfolio includes scanners, optical encoder-based positioning systems, and precision accelerometers. The Company is the inventor of the optical encoder and has designed and manufactured critical systems such as the Hubble Space Telescope Fine Guidance System. Today, BEI PSSC provides critical engineering expertise and hardware to support the Spherical Situational Awareness on the Joint Strike Fighter, high resolution and accuracy hardware for the Joint Polar Satellite System and the Geostationary Operational Environmental Satellite, and advanced acceleration monitoring for aircraft, such as the Blackhawk. BEI PSSC’s team of highly-qualified engineers holds a unique combination of mechanical, electrical, optical, and software engineering expertise required to develop, through in-house research & development, some of the most accurate positioning and sensor instruments in the market. Combining industry-leading engineering capabilities and domain knowledge of customer requirements has enabled BEI PSSC to greatly expand and influence U.S. space and defense capabilities.
We believe this transaction demonstrates several key trends in the aerospace and defense M&A environment:
• Companies holding single-source status on well-funded, mission-critical Programs of Record and enduring platforms are in high demand
• Significant value continues to be derived from companies with deeply-embedded relationships with key aerospace and defense customers, especially those aligned with favorable budget forecasts
• Both strategic and private equity buyers remain actively focused on acquiring high-end design and manufacturing capabilities built on a foundation of proprietary processes and trade secrets
• Private equity firms with a keen understanding of the aerospace and defense market are able to leverage today’s strong credit market to be competitive with strategic buyers
LEAD INVESTMENT BANKERS
Karl M. Schmidt
Kate Troendle
Brian T. Tunney
Nathan C. Wilson
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