Aerospace & Defense Acquisitions in 2017

HNZ Group Inc. will be acquired for CAD$18.70 per share by Don Wall (through a Canadian acquisition vehicle), with PHI, Inc. purchasing the Corporation's offshore operations in New Zealand, Australia, the Philippines and Papua New Guinea. The arrangement values HNZ at approximately CAD$242.4 million and is expected to close by the end of January 2018, providing cash liquidity to shareholders and continuity for employees.

Schenck Corporation has acquired Test Devices, Inc. (TDI) from owner H. Eric Sonnichsen in a share deal to expand Schenck's testing and prototyping capabilities for aerospace and related industries. Test Devices, a Hudson, Massachusetts-based provider of high-speed spin testing equipment and laboratory services, will continue operating under its current leadership with David Woodford remaining as President.

L3 Technologies completed the acquisition of Doss Aviation, Inc. on September 12, 2017; terms were not disclosed. The purchase adds Doss’s initial flight training and airfield support capabilities (including a Pueblo, Colorado training facility) to L3’s Electronic Systems segment, expanding L3’s military pilot training footprint and expected to be accretive to earnings.

Applied Research Associates, Inc. (ARA) has acquired Neya Systems LLC, a developer of unmanned ground systems autonomy and perception technologies. The acquisition combines Neya's expertise in autonomy and computer vision with ARA's experience in robotics hardware and systems to expand ARA's unmanned and robotic systems capabilities for defense, homeland security, and commercial markets; terms were not disclosed.

Graycliff Partners LP has made a majority equity investment in 901D, LLC, a Tallman, New York-based provider of engineering, design, assembly and integration services for ruggedized consoles, protective enclosures and electronics packaging. Dinan Capital Advisors served as exclusive financial advisor to 901D and its shareholders on the transaction; the investment will support 901D's capability expansion and enhancement of services to its customer base.

Liberty Hall Capital Partners has acquired Quatro Composites, a supplier of advanced composite structures and thermoplastic components, and will integrate the business into its AIM Aerospace platform. The add-on expands AIM's capabilities into structural composites and thermoplastics, broadening customer, platform and geographic diversification across commercial aerospace, defense and other industrial end markets.

Curtiss-Wright Corporation has completed the acquisition of Teletronics Technology Corporation (TTC) for $233 million in cash. TTC, a Newtown, Pennsylvania–based designer and manufacturer of data acquisition and flight test instrumentation systems (approximately 225 employees), will operate within Curtiss-Wright's Defense segment to broaden its data acquisition product portfolio and expand geographic reach.