Alliance Spacesystems, LLC is a leading supplier of lightweight composite structures to the satellite manufacturing industry and other related markets. Located in Los Alamitos, California, the company's capabilities range from design/analysis and composite manufacturing to assembly, integration and test of complex precision structures (www.alliancespacesystems.com).
Formerly a subsidiary of MacDonald, Dettwiler and Associates, Ltd. (TSX:MDA), the company was acquired in approximately six weeks, in December 2012. Under Admiralty Partners ownership, the company grew rapidly and invested in new technologies in support of customer needs. In recognition of these initiatives, Alliance received an unsolicited offer from SolAero Technologies, and was acquired in April, 2015.
Aviation manufactures passenger seat
belts, flight attendant harnesses, pilot/co-pilot
restraint systems and the new benchmark
in air safety, the AAIR inflatable restraint.
With more than 30 years in the commercial,
business jet and general aviation restraint
business, AmSafe Aviation has delivered
millions of seatbelts worldwide.
Commercial Products provides restraint
systems and performance textile solutions
for applications including child seats,
school buses, trucks, recreational vehicles
and other ground based vehicles. AmSafe
Commercial Products also manufactures
and distributes a full line of securement
products for ground freight applications
including tie-downs and van hardware.
Bridport manufactures aviation cargo
nets and restraints, including 9G barrier
nets, pallet nets and cargo containment,
camouflage and other aviation securement
products. In addition to its own products,
AmSafe Bridport has a global customer
service and distribution organization
for over 20,000 lines of stock for military
and commercial aircraft maintenance
organizations in 25 countries.
Defense manufactures safety, securement
and other performance textile products and
fabrics for defense applications.AmSafe Defense
provides solutions to worldwide government
vehicle, logistics and maintenance organizations,
including personnel restraints, airbags, camouflage,
engineered cargo control systems, cargo nets
and tie downs and helicopter under-slung lifting
|In October, 2007
was sold to affiliates of Berkshire Partners LLC and Greenbriar Equity Group LLC. Admiralty Partners continued to own and manage certain assets which were excluded from the sale; remained the largest investor (after the two new sponsors) in the company; and Jon B. Kutler, Admiralty's CEO, remained as a director.
|In February, 2012, Admiralty Partners, Inc. realized its second AmSafe liquidity event when the company was sold to TransDigm Group, Inc. (NYSE:TDG) for approximately $750 million.
Arotech Corporation (NASDAQ: ARTX) is an innovative engineering solutions company that offers Training & Simulation and Power Systems solutions to military, law enforcement and homeland security markets. The Power Systems Division develops special purpose batteries, smart chargers and electronic components
through operations in South Carolina and Israel. The
Training & Simulation Division develops, manufactures and markets
advanced multi-media and interactive digital solutions for engineering,
use-of-force and operator training simulations in Michigan.
In February, 2016, Admiralty purchased 1.5 million shares
of common stock from the company. Combined with open market purchases
by affiliates, this represents over 6% of Arotech’s outstanding
shares. API CEO Jon Kutler has been appointed to the board of
directors to help facilitate the company’s growth and value
In December, 2019, Arotech was taken private by an affiliate of Greenbriar Equity Group, L.P. as part of a growth plan which included the acquisition of Inter-Coastal Electronics, LLC.
|Composite Structures was first
acquired an independent supplier of composite
and metal bond structures and assemblies,
in 1997 when it was a $40 million company.
While its decades-long contracts for Apache
Helicopter blades and Boeing 737 and C-17
parts were solid, the firm required significant
restructuring of both marketing and production
processes as it made the transition from a
division of a multi-billion dollar Fortune
500 company to a stand alone company. With
our guidance, Composite Structures reduced
costs and increased efficiency through techniques
such as lean manufacturing. As a result, the
company grew to have revenues of $65 million
with more than 350 employees. In 2001, Admiralty
Partners and its founder sold Composite Structures
to Ducommun Incorporated, which now operates
it as Ducommun AeroStructures. Today, the
firm is the United States' largest independent
supplier of composite and metal bond structures
and assemblies, including aircraft wing spoilers,
helicopter blades, flight control surfaces
and engine components.
GMA Cover Corporation is a global leader in the design, development and manufacture of engineered textiles for military applications. These include soft vehicle covers, camouflage systems and parachutes.
When GMA approached Admiralty in May, 2011, it was facing twin crucial challenges. It had to perform on the rapid initiation of a large one time urgent and compelling contract to support U.S. troops in the Middle East while facing an impending bankruptcy filing due to the financial leverage it incurred associated with recent investments and the vagaries of the defense procurement process. GMA required both a quick financial restructuring and strategic guidance. Affiliates of Admiralty Partners restructured the company's balance sheet and provided it with a line of credit through a newly formed corporate structure in June, 2011, less than six weeks from the first introductory call.
In the following year, GMA grew its work force by a factor of five in order to successfully complete its contracts. As part of the restructuring process, operations were consolidated and excess facilities were sold. The company's largest product line, the sale of proprietary ULCANS (Ultralight Camouflage Net Systems) was sold to a large European defense contractor.
|Hydra-Electric Company is a leading aerospace sensor and switch company. It was bequeathed by Hydra's founder, Mr. Allen V.C. Davis, to a major not-for-profit institution in 2016. Rather than Admiralty Partners purchasing the company, Jon Kutler acted as an uncompensated advisor in growing the company and positioning through to a eventual sale to Loar Group in 2019 which provided a significant increase in value and liquidity to the endowment of that institution.
|Integral Aerospace, LLC was formed by Admiralty Partners to acquire the 270,000 sq. ft. Santa Ana, California operations of GE Aerospace as of December 31, 2016. The business traced its roots back over 50 years through various GE acquisitions. By 2016, however, the company was nearing liquidation. Through investment of capital, expertise and supplementing the management team, Admiralty assisted Integral in dramatically turning around the business and becoming a leading manufacturer of flight-critical products including carbon fiber external fuel tanks for U.S. Navy aircraft, landing gear for helicopters and advanced unmanned vehicles and a variety of complex machined structures and engine components. In July, 2021, Integral was sold to PCX Aerosystems.
1988, ISX quickly grew to be a recognized
leader in developing advanced innovative information
technology solutions through an integrated
set of consulting, development and support
services for primarily government customers.
In 1991, the company separately incorporated
IS Robotics to create micro-robotics (IS Robotics
was spun off in 1998, was renamed iRobot and
went public in November, 2005). ISX was later
named ARPA contractor of the year and continued
to grow in advanced program development. Admiralty
Partners, through one of its Quarterdeck predecessor
companies, invested in ISX in 1994 as the
company opened a Washington DC office and
expanded its government capabilities. In June,
2006, ISX was acquired by Lockheed Martin
Headquartered in St. John's, Newfoundland in Canada, Marport provides innovative software solutions and products for a wide variety of underwater sensing and communications applications.
Unlike traditional sonar designs, Marport's software-centric sonar platform is unique in that it supports dynamic re-configuration of multiple functions, waveforms and signal processing techniques (www.marport.com).
In December, 2010, Admiralty Partners, Inc. made a passive investment in support of the acquisition of Marport by Hastings Equity, LLC, a middle market private equity firm. In 2013, the company was sold in two transactions. Marport's Commercial Fishing business was sold to Airmar Technology and its C-Tech defense unit was sold to Nautel Capital Corporation.
Aerospace Systems, (www.panklaerospace.com),
a subsidiary of Austrian public company Pankl
Racing Systems AG, is a leading provider of
a range of products for aerospace and defense
markets including helicopter main and rear
rotor drive shafts; in-air refueling system
components and jet engine shafts. In 2006,
Admiralty Partners acquired of a 25% equity
stake which includes the aerospace subsidiary’s
Cerritos, California (USA) and Kapfenberg
(Austria) production facilities. In 2010, Admiralty partners sold its position back to the Company.
Partners, Inc. ("QIP") was founded
in 1992. QIP grew quickly from one person
in Los Angeles to four offices worldwide with
a reputation as the leading global provider
of merger and acquisition advisory services
to the aerospace, defense, space and federal
information technology markets. In March of
2001, QIP formed Quarterdeck Investment Partners,
LLC (“Quarterdeck”) to facilitate
the sale of a minority interest in its advisory
practice in conjunction with a broad strategic
alliance with Jefferies Group, Inc. (NYSE:
JEF) and its principal operating subsidiary,
Jefferies & Company, Inc. The relationship
was further expanded in April 2002 through
the creation of Jefferies/Quarterdeck, LLC
in order to offer Jefferies' financing capabilities
to Quarterdeck's broad range of industry clients.
Quarterdeck was named "2002 Boutique
Middle-Market M&A Firm of the Year"
by Mergers and Acquisitions Advisor. QIP's
remaining interest in Quarterdeck was sold
to Jefferies in December, 2002. Jon B. Kutler
continued to serve as Chairman and CEO of
Jefferies Quarterdeck, the successor business
until his resignation in 2006.
CON® Phoenix, Inc. is the leading
manufacturer of underwater electrical
and optical connectors, cable assemblies
and hull penetrators for military and
commercial markets. This includes devices
for a range of harsh environments such
as undersea, downhole and nuclear applications.
Headquartered in Westerly, Rhode Island,
the company utilizes a high level of
technical support to customize over
1,000 different product styles to fulfill
demanding applications. SEA CON®
was purchased by Admiralty Partners,
Inc. and its affiliates in March, 2005.
In February 2006, SEA CON® sold
Optix, its fiber optic components business
that serves the optical network market,
to management. Admiralty worked with
management to rapidly grow the company’s
backlog and establish a specialized
facility in the United Kingdom in support
of BAE’s work on the Astute submarine
program. In April, 2007 Seacon Phoenix
was acquired by AMETEK, Inc. a leading
global manufacturer of electronic instruments
and electromechanical devices.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a world leader in highly reliable and secure mobile communication technology. TCS infrastructure forms the foundation for market leading solutions in E9-1-1, text messaging, commercial location and deployable wireless communications. TCS is at the forefront of new mobile cloud computing services providing wireless applications for navigation, hyper-local search, asset tracking, social applications and telematics. Millions of consumers around the world use TCS wireless apps as a fundamental part of their daily lives. Government agencies utilize TCS' cyber security expertise, professional services, and highly secure deployable satellite solutions for mission-critical communications. Headquartered in Annapolis, MD, TCS maintains technical, service and sales offices around the world. To learn more about emerging and innovative wireless technologies (www.telecomsys.com).
Admiralty Partners became the largest shareholder of TCS aside from the holdings of the Company’s founder in January 2011. Jon B. Kutler, API’s Chairman and CEO served as director of TCS and ultimately a member of the Special Committee of the Board reviewing strategic alternatives. In December, 2015, TCS entered into an agreement to be sold to Comtech Systems, Inc.
In March, 2007 Admiralty Partners acquired the Aerospace and Defense business
units of Vertical Circuits, Inc. (VCI).The
new company, renamed, Trident
Space & Defense, LLC (www.tridentsd.com),
is headquartered in Torrance, California.
VCI was formed by the merger of TRW Components
International, a unit of TRW, Inc., now
a subsidiary of Northrop Grumman Corporation
and Cubic Memory Inc., in October 1999.
Electronics Components Group is an ISO
9001:2000 certified engineering services company
specializing in the value added supply of
parts utilized in space, military, and other
high reliability applications for U.S. and
Global markets. With proven performance for
the past thirty years, having been originally
established as TRW Components International
in 1976, the Electronics Components group
has provided components for over 100 major
space, military and high reliability programs.
The experienced program management, components
engineering, quality assurance, and procurement
staff has supplied over 10,000 different part
types, millions of individual parts and has
a track record of zero-on-orbit failures or
launch delays attributable to their parts.
Advanced Products Group is a world leader
in the supply of advanced high-performance
semiconductor packaging solutions for Military
and Aerospace applications. The Group provides
innovative custom design of multi-chip modules,
memory modules as well as solid-state drives
in both rugged enclosures and component level
devices for embedded computer applications.
The Advanced Products Group has extensive
experience and know-how in all aspects of
the design, qualification, radiation testing
and qualification requirements for a wide
range of product designs, with past experience
supporting major programs like Cassini, NMP,
Astrolink, EOS, Landsat-7, THAAD, Kompsat
Systems Group offers complete engineering
services for all ground station related business,
specializing in launch support, range safety
and satellite TT&C systems. Trident has
an excellent record of on-time delivery of
systems for over 35 years at the Global level,
as well as providing OEM support of multiple
ground stations requiring expertise in international
relations and long-term cooperative agreements.
|In 2011, Admiralty Partners sold Trident to NASDAQ listed TeleCommunications Systems, Inc. (TCS) for a combination of cash and stock. Based in Annapolis, MD, the company is a world leader in highly reliable and secure mobile communication technology. As part of the transaction, Jon B. Kutler, API's Chairman and CEO, has agreed to serve as a director of TCS.
|One of Admiralty’s predecessor
companies Quarterdeck Public Equities, LLC
purchased approximately a 10% position in
the fully diluted stock of this formally public
micro-cap company, making it Venturian’s
second-largest shareholder after the founder’s
family. Through its wholly owned subsidiary
Napco International, Inc, Venturian provided
a wide array of defense products to commercial
and government customers. In addition, Venturian
owned several non-core assets including substantial
real estate and financial holdings for which
the public markets were not ascribing value.
With Admiralty’s principals’ assistance,
the company was able to go private and recognize
significant value in a series of independent