Transactions
August 19 2020
KippsDeSanto & Co. advises Transformational Security, LLC and Intelligent Devices, Inc. on their sale to HEICO Corporation
KippsDeSanto & Co. is pleased to announce the sale of its clients, Transformational Security, LLC and Intelligent Devices, Inc. (“TS,” “ID,” or the “Companies”), to HEICO Corporation (“HEICO”).
Headquartered in Columbia, MD, TS is a leading security technology company that designs, develops, manufactures and supports state-of-the-art detection and monitoring systems and sensors used to protect critical spaces from exploitation via wireless transmissions. TS’ solutions detect, identify and analyze an array of threats posed in communications, information and radio frequency security in support of its clients most exacting Technical Surveillance Countermeasures (“TSCM”), Counterintelligence, and Electromagnetic Spectrum Operations (“EMSO”) requirements. The Company’s proprietary, highly specialized hardware and software technology is used by its broad customer base across well-funded markets and applications including intelligence, military, law enforcement, government agencies, and the private sector.
Founded in 1995, ID provides state-of-the-art audio solutions to the enterprise, commercial, government and law enforcement communities in support of their most mission critical communications security requirements. Its highly specialized, revolutionary solutions and systems combine hardware, software and complex, proprietary algorithms with over fifty years of true expertise in audio recording, enhancement, and speech processing.
The HEICO family of companies is known for high quality and performance in providing products and services to niche segments within the aviation, defense, space, medical, telecommunications, and electronics industries. HEICO entered the TSCM field in June 2019 when it acquired Research Electronics International (“REI”). While TS and ID will remain separate businesses from REI, adding the Companies’ complementary capabilities and technologies will help TS, ID, and REI realize synergies from their respective teams’ collaboration, customer and market access to develop new technology and offer unique, expanded product offerings to customers.
We believe this transaction highlights several key trends in the cybersecurity and defense electronics M&A market:
• Strategic buyers recognize the value of proprietary technology and highly engineered and differentiated solutions
• Continued demand for innovative companies that offer integrated hardware and software-based solutions, utilizing technologies that are approved to sell to a broad market, including U.S. and international government, military, intelligence, law enforcement, and commercial enterprises
• Attractiveness of deeply embedded installed base and long-term relationships with hard-to-penetrate customers across multiple well-funded market segments
• Significant value attributed to operational synergies, complementary technology, customer relationships, and market know-how that represent significant opportunity for growth
LEAD INVESTMENT BANKERS
Michael J. Misantone
Nicholas Dodson
KippsDeSanto & Co. is pleased to announce the sale of its clients, Transformational Security, LLC and Intelligent Devices, Inc. (“TS,” “ID,” or the “Companies”), to HEICO Corporation (“HEICO”).
Headquartered in Columbia, MD, TS is a leading security technology company that designs, develops, manufactures and supports state-of-the-art detection and monitoring systems and sensors used to protect critical spaces from exploitation via wireless transmissions. TS’ solutions detect, identify and analyze an array of threats posed in communications, information and radio frequency security in support of its clients most exacting Technical Surveillance Countermeasures (“TSCM”), Counterintelligence, and Electromagnetic Spectrum Operations (“EMSO”) requirements. The Company’s proprietary, highly specialized hardware and software technology is used by its broad customer base across well-funded markets and applications including intelligence, military, law enforcement, government agencies, and the private sector.
Founded in 1995, ID provides state-of-the-art audio solutions to the enterprise, commercial, government and law enforcement communities in support of their most mission critical communications security requirements. Its highly specialized, revolutionary solutions and systems combine hardware, software and complex, proprietary algorithms with over fifty years of true expertise in audio recording, enhancement, and speech processing.
The HEICO family of companies is known for high quality and performance in providing products and services to niche segments within the aviation, defense, space, medical, telecommunications, and electronics industries. HEICO entered the TSCM field in June 2019 when it acquired Research Electronics International (“REI”). While TS and ID will remain separate businesses from REI, adding the Companies’ complementary capabilities and technologies will help TS, ID, and REI realize synergies from their respective teams’ collaboration, customer and market access to develop new technology and offer unique, expanded product offerings to customers.
We believe this transaction highlights several key trends in the cybersecurity and defense electronics M&A market:
• Strategic buyers recognize the value of proprietary technology and highly engineered and differentiated solutions
• Continued demand for innovative companies that offer integrated hardware and software-based solutions, utilizing technologies that are approved to sell to a broad market, including U.S. and international government, military, intelligence, law enforcement, and commercial enterprises
• Attractiveness of deeply embedded installed base and long-term relationships with hard-to-penetrate customers across multiple well-funded market segments
• Significant value attributed to operational synergies, complementary technology, customer relationships, and market know-how that represent significant opportunity for growth
LEAD INVESTMENT BANKERS
Michael J. Misantone
Nicholas Dodson
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