Transactions
January 1 2023
KippsDeSanto & Co. advises Ophir Corporation on its sale to LightRidge Solutions, a portfolio company of ATL Partners
KippsDeSanto & Co. is pleased to announce the sale of its client, Ophir Corporation (“Ophir” or the “Company”) to LightRidge Solutions (“LightRidge”), a newly-formed portfolio company of ATL Partners.
Headquartered in Littleton, CO, Ophir is a leading developer of advanced, mission critical, laser-based sensors and avionics solutions. Ophir’s products enable successful deployment of flight-critical systems to enable low-observable and stealth technologies in support of highly strategic and classified national security platforms. The Company’s primary capabilities encompass contrail detection, military air data systems, and other advanced avionics technologies in support of next-generation military aircraft requiring effective and reliable solutions. Through its cradle-to-grave development, engineering, manufacturing, and depot-level support capabilities, Ophir has built a portfolio of sole source contracts for these technically complex, mission critical, laser-based sensors and avionics solutions. Over its 40+ year history, the Company has developed a sterling reputation specializing in cutting-edge solutions where size, weight, and power (“SWaP”) are critical components of ensuring mission success and safety. Its credentialed and cleared team of engineering professionals and physicists provide the unique expertise required to stay at the forefront of innovation in optical system design, production, and aftermarket support.
LightRidge, comprised of GEOST, LLC (acquired in 2021) and Ophir (acquired in 2022) is a newly-formed, leading space and airborne platform focused on high performance sensors and payloads for national security markets. Ophir will continue to operate as a standalone entity, but will be integrated into the broader LightRidge umbrella, offering capabilities that will both complement and augment GEOST’s current offerings of small-to-medium sized electro-optical infrared sensors. With these complementary capabilities in support of mission-critical national security objectives.
We believe this investment demonstrates several key trends in the current aerospace / defense M&A environment:
• Emphasis on highly strategic platforms aligned closely with shifting defense budgets and priority funding areas resulting from the evolving global threat environment;
• Focus on delivering differentiated, highly engineered, mission-critical avionics solutions from cradle-to-grave, ranging from initial design and development through production and aftermarket support;
• Significant value for defensible, sole source positioning on programs of record, highly strategic platforms, and classified efforts with favorable long-term funding environments; and
• Continued interest in assets with significant backlog and revenue visibility supported by recurring revenue streams and long-term production contracts
LEAD INVESTMENT BANKERS
KippsDeSanto & Co. is pleased to announce the sale of its client, Ophir Corporation (“Ophir” or the “Company”) to LightRidge Solutions (“LightRidge”), a newly-formed portfolio company of ATL Partners.
Headquartered in Littleton, CO, Ophir is a leading developer of advanced, mission critical, laser-based sensors and avionics solutions. Ophir’s products enable successful deployment of flight-critical systems to enable low-observable and stealth technologies in support of highly strategic and classified national security platforms. The Company’s primary capabilities encompass contrail detection, military air data systems, and other advanced avionics technologies in support of next-generation military aircraft requiring effective and reliable solutions. Through its cradle-to-grave development, engineering, manufacturing, and depot-level support capabilities, Ophir has built a portfolio of sole source contracts for these technically complex, mission critical, laser-based sensors and avionics solutions. Over its 40+ year history, the Company has developed a sterling reputation specializing in cutting-edge solutions where size, weight, and power (“SWaP”) are critical components of ensuring mission success and safety. Its credentialed and cleared team of engineering professionals and physicists provide the unique expertise required to stay at the forefront of innovation in optical system design, production, and aftermarket support.
LightRidge, comprised of GEOST, LLC (acquired in 2021) and Ophir (acquired in 2022) is a newly-formed, leading space and airborne platform focused on high performance sensors and payloads for national security markets. Ophir will continue to operate as a standalone entity, but will be integrated into the broader LightRidge umbrella, offering capabilities that will both complement and augment GEOST’s current offerings of small-to-medium sized electro-optical infrared sensors. With these complementary capabilities in support of mission-critical national security objectives.
We believe this investment demonstrates several key trends in the current aerospace / defense M&A environment:
• Emphasis on highly strategic platforms aligned closely with shifting defense budgets and priority funding areas resulting from the evolving global threat environment;
• Focus on delivering differentiated, highly engineered, mission-critical avionics solutions from cradle-to-grave, ranging from initial design and development through production and aftermarket support;
• Significant value for defensible, sole source positioning on programs of record, highly strategic platforms, and classified efforts with favorable long-term funding environments; and
• Continued interest in assets with significant backlog and revenue visibility supported by recurring revenue streams and long-term production contracts
LEAD INVESTMENT BANKERS
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