Harris Williams Advises Space Electronics LLC on its Sale to L Squared Capital Partners
September 10 2019 - 10:56AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Space
Electronics LLC (Space Electronics), a portfolio company of Benford
Capital Partners LLC (Benford Capital) and Coppermine Capital LLC
(Coppermine), on its sale to L Squared Capital Partners (L
Squared). Space Electronics is a leading manufacturer of mass
properties measurement instruments and electronic test solutions.
The transaction was led by Giles Tucker, Chris Toussaint and Shinik
Patel of the Harris Williams Industrials Group and Chris Smith of
the firm’s Aerospace, Defense & Government Services (ADG)
Group.
“Space Electronics’ expertise in precision engineering and
manufacturing allows the company to produce extraordinarily
accurate and customizable measurement instruments, deployed across
numerous mission-critical applications,” said Giles Tucker, a
managing director at Harris Williams. “This transaction clearly
reflects the broad market interest and strong momentum that Harris
Williams continues to see with respect to industrial technology
businesses.”
“We are thrilled to have worked with Space Electronics and its
outstanding management team on this transaction and look forward to
seeing what the company will achieve in its next chapter with L
Squared,” said Chris Smith, a director at Harris Williams.
“Leveraging the expertise of both our Industrials and ADG Groups
underscores Harris Williams’ collaborative approach to helping
clients find the optimal partner for their businesses.”
Headquartered in Berlin, Connecticut, Space Electronics is a
leading global provider of mass properties instruments and services
and electronic circuit testers, utilized in mission-critical
applications across unmanned aerial vehicles, satellites,
commercial aerospace, military aviation and defense weapon systems.
The company’s renowned engineering expertise, combined with its
comprehensive testing and aftermarket services, delivers
industry-leading precision capabilities and a highly loyal customer
base.
Founded in 2004, Benford Capital is a Chicago-based private
investment firm focused on buying and building lower-middle market
businesses over the long term in partnership with management. Over
the past 15 years, Benford Capital has acquired 17 companies,
including several add-on acquisitions, and currently owns nine
platform companies: Atlas RFID, U.S. Underwater Services, Ray Allen
Manufacturing, Education Services Group, ENMET, Double L Group,
Droplet Measurement Technologies, Saco Foods and Specialty
Sales.
Coppermine is a Concord, Massachusetts-based private investment
firm seeking to acquire control positions in small- to mid-size
home healthcare, niche manufacturing and service companies. The
firm targets companies with annual sales between $5 and $25
million. In addition to new investments, Coppermine is interested
in add-on acquisitions that complement the companies in the firm’s
portfolio. Founded in 2002, Coppermine has a long-term investment
horizon and is positioned to support investments over many years
and business cycles. The firm takes a team approach and works in
partnership with management to achieve the goal of lasting value
and long-term growth.
L Squared is an investment firm with offices in Newport Beach,
California, and Chicago, Illinois, that seeks to make long-term
investments in leading growth companies that operate in targeted
sectors: tech-enabled services and software; industrial technology
and services; and education technology. L Squared’s unique investor
base of family offices enables the firm to focus on long-term value
creation driven by revenue and earnings growth, not financial
engineering or market timing. The principals of L Squared have
worked together for over a decade and have over 60 years of
combined experience investing in growing private companies.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Industrials Group has experience across a
variety of sectors, including advanced manufacturing; aggregates,
metals, and mining; building products; chemicals and specialty
materials; industrial technology; and packaging. For more
information on the firm’s Industrials Group and other recent
transactions, visit the Industrials Group’s section of the Harris
Williams website.
The Harris Williams ADG Group offers strategic advice to a
global base of leading aerospace, defense and government services
clients. For more information on the ADG Group and other recent
transactions, visit the ADG Group’s section of the Harris Williams
website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 648-0072.
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version on businesswire.com: https://www.businesswire.com/news/home/20190910005793/en/
Katie Langemeier, associate brand manager +1 (804) 648-0072
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