September 12, 2019 Update
Composites M&A Overview
Commercial and defense platform backlogs have driven optimistic forecasts for composite suppliers in the A&D supply chain. Defense has buoyed much of the supplier momentum and increased M&A appetite in 2019. DoD spending highlights for 2020 include 14 battleships and 96 F-35s. As the supply chain prepares for significant increases to associated advanced materials production, in-sourcing from blue-chip OEMs and platform growth within private equity are expected to drive an increase in deal flow towards key tier II & III suppliers.
2019 Composites M&A – Highlights
Arcline Investment Mangement Acquires Integrated Polymer Solutions
IPS and its subsidiaries manufacture elastomeric components including seals, gaskets and tooling for composites with a global manufacturing footprint.
ESCO Technologies Acquires Globe Composite Solutions
Globe manufactures composite products for acoustic, signature-reduction, communications, and hydrodynamic-related applications, supplying 140+ parts on the Virginia and Columbia class submarines.
ITT, Inc Acquires Matrix Composites
Matrix manufactures composite components for A&D applications including fuselage components, spars, radomes, antennas, munitions housings, ducting, and fixed & rotating engine components.
Sekisui Acquires AIM Aerospace, a Portfolio Company of Liberty Hall Partners
AIM Aerospace designs and manufactures advanced composite structures, systems, engine components and thermoplastic technology for global aerospace customers.
HEICO Acquires Decavo
Decavo designs and manufactures complex composite assemblies with unique structural and electromagnetic interference characteristics for cameras, sensor assemblies, and UAV airframe applications.
HEXCEL Acquires ARC Technologies
ARC produces RF / EMI and microwave absorbing composite materials, combining metallic filler compounds with a proprietary blend of polymer resins for various structural composites and thermoplastics applications.