Transactions
January 5 2018
KippsDeSanto & Co. Advises BTP Systems, LLC on its Sale to Serco Inc.
KippsDeSanto & Co. is pleased to announce the sale of BTP Systems, LLC (“BTP” or the “Company”) to Serco Inc (“Serco”). BTP is a leading provider of design, engineering, manufacture, and sustainment of mission-critical satellite communications (“SATCOM”) terminals, radar systems, and other complex communications hardware, in support of the U.S. Navy, U.S. Air Force, and leading defense industry prime contractors.
Headquartered in Ludlow, MA, BTP offers a comprehensive suite of full lifecycle, end-to-end system capabilities, including systems engineering, design, prototype development, integration, testing, manufacturing, depot-level repair, and obsolescence engineering support, with expertise across shipboard and submarine SATCOM and MILSTAR terminals and antenna systems. BTP operates one of the largest and most advanced near-field antennae ranges in the country, which, in addition to its compact antenna range, enables it to support a wide range of unique testing requirements. With more than a decade of experience supporting nearly every Naval extremely high-frequency (“EHF”) and super high-frequency (“SHF”) SATCOM antenna system, such as SubHDR and Multiband Terminal, BTP has amassed considerable domain knowledge and expertise and has established a long-standing reputation in the industry as the go-to provider of complex technical SATCOM services.
The acquisition of BTP aligns well with Serco’s strategic growth objectives to expand capabilities and customer reach as BTP brings Serco critical new capabilities and additional U.S. defense customers. In addition, Serco believes that the addition of BTP will position the combined company to take better advantage of the current demand for sustainment, overhaul, and testing services in the U.S. SATCOM marketplace.
We believe this transaction demonstrates several key trends in the aerospace and defense M&A market:
• Strategic buyers are actively focused on utilizing M&A to increase their exposure to the well-funded and growing U.S. defense market;
• Strategic buyers rely on M&A to add high-end and differentiated capabilities; and
• Buyers continue to place premium values on companies with entrenched and defensible positions with key customers on mission-critical programs.
LEAD INVESTMENT BANKERS
Michael J. Misantone
Kate Troendle
KippsDeSanto & Co. is pleased to announce the sale of BTP Systems, LLC (“BTP” or the “Company”) to Serco Inc (“Serco”). BTP is a leading provider of design, engineering, manufacture, and sustainment of mission-critical satellite communications (“SATCOM”) terminals, radar systems, and other complex communications hardware, in support of the U.S. Navy, U.S. Air Force, and leading defense industry prime contractors.
Headquartered in Ludlow, MA, BTP offers a comprehensive suite of full lifecycle, end-to-end system capabilities, including systems engineering, design, prototype development, integration, testing, manufacturing, depot-level repair, and obsolescence engineering support, with expertise across shipboard and submarine SATCOM and MILSTAR terminals and antenna systems. BTP operates one of the largest and most advanced near-field antennae ranges in the country, which, in addition to its compact antenna range, enables it to support a wide range of unique testing requirements. With more than a decade of experience supporting nearly every Naval extremely high-frequency (“EHF”) and super high-frequency (“SHF”) SATCOM antenna system, such as SubHDR and Multiband Terminal, BTP has amassed considerable domain knowledge and expertise and has established a long-standing reputation in the industry as the go-to provider of complex technical SATCOM services.
The acquisition of BTP aligns well with Serco’s strategic growth objectives to expand capabilities and customer reach as BTP brings Serco critical new capabilities and additional U.S. defense customers. In addition, Serco believes that the addition of BTP will position the combined company to take better advantage of the current demand for sustainment, overhaul, and testing services in the U.S. SATCOM marketplace.
We believe this transaction demonstrates several key trends in the aerospace and defense M&A market:
• Strategic buyers are actively focused on utilizing M&A to increase their exposure to the well-funded and growing U.S. defense market;
• Strategic buyers rely on M&A to add high-end and differentiated capabilities; and
• Buyers continue to place premium values on companies with entrenched and defensible positions with key customers on mission-critical programs.
LEAD INVESTMENT BANKERS
Michael J. Misantone
Kate Troendle
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