Transactions
September 10 2019
KippsDeSanto & Co. Advises McNally Industries, LLC, a portfolio company of Gardner Standard LLC, on its sale to Susquehanna Private Capital, LLC
KippsDeSanto & Co. is pleased to announce the sale of McNally Industries, LLC (“McNally” or the “Company”), a portfolio company of Gardner Standard LLC, to Susquehanna Private Capital, LLC.
Headquartered in Grantsburg, WI, McNally is a leading provider of advanced design engineering, complex test and assembly, and precision machining and manufacturing for mission-critical applications, primarily supporting both new and legacy platforms for the aerospace & defense and midstream oil & gas markets. The Company’s full-service offerings range from initial product design and manufacturing to final testing and after-market support. Deep engineering capabilities, including reverse engineering and technical data package development, have created significant competitive advantages and high barriers to entry. Additionally, this expertise has enabled McNally to establish sole-source / single-source positioning on various highly-visible and well-funded Programs of Record (“PoR”) and to develop proprietary products. McNally has an established history supporting various Department of Defense (“DoD”) customers with missions across land, air, and sea. Supported programs include the Bradley Fighting Vehicle; Apache, Blackhawk, and Chinook helicopters; and DDG-51 destroyers.
Well-positioned in the growing defense and energy end markets, McNally maintains strong relationships with a strategically diversified portfolio of government end users, key system integrators and defense primes, as well as commercial oil & gas customers. Continued investments in new machinery and equipment coupled with an emphasis on cultivating engineering talent with relevant industry certifications, educational backgrounds, and requisite security clearances has allowed McNally to succeed and drive continued growth.
We believe this investment demonstrates several key trends in the aerospace and defense M&A environment:
• Demand for companies with entrenched and defensible positions on PoRs and key enduring programs which provide significant revenue visibility and backlog;
• Significant value placed on companies with single / sole-source status given high barriers to entry created by differentiated capabilities portfolios and proprietary solutions;
• Interest in customer footprint diversified across government users, defense primes, and commercial players;
• Private equity firms remain active; buyers look to acquire new platforms in well-funded and defensible markets
LEAD INVESTMENT BANKERS
KippsDeSanto & Co. is pleased to announce the sale of McNally Industries, LLC (“McNally” or the “Company”), a portfolio company of Gardner Standard LLC, to Susquehanna Private Capital, LLC.
Headquartered in Grantsburg, WI, McNally is a leading provider of advanced design engineering, complex test and assembly, and precision machining and manufacturing for mission-critical applications, primarily supporting both new and legacy platforms for the aerospace & defense and midstream oil & gas markets. The Company’s full-service offerings range from initial product design and manufacturing to final testing and after-market support. Deep engineering capabilities, including reverse engineering and technical data package development, have created significant competitive advantages and high barriers to entry. Additionally, this expertise has enabled McNally to establish sole-source / single-source positioning on various highly-visible and well-funded Programs of Record (“PoR”) and to develop proprietary products. McNally has an established history supporting various Department of Defense (“DoD”) customers with missions across land, air, and sea. Supported programs include the Bradley Fighting Vehicle; Apache, Blackhawk, and Chinook helicopters; and DDG-51 destroyers.
Well-positioned in the growing defense and energy end markets, McNally maintains strong relationships with a strategically diversified portfolio of government end users, key system integrators and defense primes, as well as commercial oil & gas customers. Continued investments in new machinery and equipment coupled with an emphasis on cultivating engineering talent with relevant industry certifications, educational backgrounds, and requisite security clearances has allowed McNally to succeed and drive continued growth.
We believe this investment demonstrates several key trends in the aerospace and defense M&A environment:
• Demand for companies with entrenched and defensible positions on PoRs and key enduring programs which provide significant revenue visibility and backlog;
• Significant value placed on companies with single / sole-source status given high barriers to entry created by differentiated capabilities portfolios and proprietary solutions;
• Interest in customer footprint diversified across government users, defense primes, and commercial players;
• Private equity firms remain active; buyers look to acquire new platforms in well-funded and defensible markets
LEAD INVESTMENT BANKERS
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