Press releases

Frankfurt am Main  |  Wednesday 7 February 2024

Steen Associates advised KNDS on cornerstone investment in successful Renk IPO

As part of the successful IPO of RENK AG, KNDS N.V. (KNDS), a leading European defense company founded in 2015 through the merger of Krauss-Maffei-Wegmann (KMW) and the French defense company Nexter Systems has subscribed to shares worth EUR 100 million as cornerstone investor.

In addition, the selling shareholder TRITON and KNDS entered into an agreement, allowing KNDS to appoint a member of the supervisory board and to have the option to acquire additional shares to reach a total shareholding of up to 25% plus one vote of shares of the company from the selling shareholder at a share price above the Placement Price at a later point in time after the listing.

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Frankfurt am Main  |  Wednesday 13 December 2023

Steen Associates advises KNDS as they form a strategic alliance with LEONARDO

Under the auspices of the Italian Ministry of Defense, Leonardo and KNDS have signed an agreement for further development of a more intensive cooperation. The aim is to create a truly European Defense Group and, in addition, to cooperate more closely in the field of land based electronics.

Such a strategic alliance will enable the implementation of programs in cooperation among European nations, by strengthening their national industrial base and developing the future generation of armored vehicle platforms, including Main Ground Combat System (MGCS).

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London  |  Friday 13 October 2023

Steen Associates adds to Transaction Team

Steen Associates is bolstering its transaction team with the addition of Pritam Ghosh in the Frankfurt office as an Associate. The London office has also seen an expansion of the team with Julius Raschke and Ishaan Chandaria joining as an analyst and associate respectively.

All three will be integrated into the Steen Associates’ mergers & acquisitions transaction team and will be working together on mandates internationally.

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London |  Friday 23 September 2022

Steen Associates acts as financial advisor to Rafael Advanced Defense Systems Ltd on its acquisition of Pearson Engineering & Responsive Engineering.

Rafael the defence and security company has acquired Pearson Engineering Limited and Responsive Engineering Limited for an undisclosed sum. Rafael is one of the world’s pre eminent suppliers of defence systems specialising in countering hostile threats from the Air, Land and Sea.

Pearson Engineering and Responsive Engineering manufacture a range of heavy equipment focused on mine clearance and detection as well as defensive products for land systems. They are located in Newcastle upon Tyne in the UK and Rafael is located in Haifa in Israel.

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Frankfurt am Main |  Friday 01 July 2022

STAR Capital acquires Vincorion from Jenoptik AG

Steen Associates is pleased to announce that STAR Capital has acquired Vincorion from Jenoptik AG. The carve-out transaction, which was signed in November 2021, completed on the 30th of June 2022 following successfully obtaining all necessary regulatory approvals. 

Vincorion is a leading German engineering business active in the design, manufacture and maintenance of specialised high-performance, mission-critical mechatronic solutions for use in the Defence, Aerospace and Industrials markets.

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Frankfurt am Main |  Thursday 25 November 2021

Steen Associates acts as exclusive adviser to STAR Capital on their acquisition of Vincorion from Jenoptik AG

Jenoptik AG has signed an agreement to sell the Vincorion division. It will be acquired by a fund managed by STAR Capital Partnership LLP (“STAR”). STAR is a leading private equity firm investing in medium-sized companies across Europe.

Vincorion develops, produces, and sells mechatronic products in particular for the defense and security sector, the aviation as well as the rail and transportation industries.

“The sale of Vincorion is a further milestone in transforming Jenoptik into a focused and globally leading photonics company. I am convinced that the transaction will have a positive impact on the Group’s earnings position, risk profile, and financing power. It will also enable ESG-oriented investors to invest in Jenoptik. In addition, we are convinced that with STAR we have found the right owner to realize the potential we see for Vincorion. In addition, it was important to us that STAR was willing to grant location guarantees,” says Stefan Traeger, President & CEO of Jenoptik AG.

The equity value is in the mid double-digit million euro range. In addition, there are claims and obligations (e.g. resulting from pension obligations) in the mid double-digit million euro range as well as certain earn-out components. The enterprise value amounts to approximately 130 million euros. Both parties have agreed not to disclose any further details.

Closing of the purchase agreement is still subject to approval by the responsible authorities and other customary closing conditions. Closing is expected to take place in the second half of 2022.

In 2020, the division had approximately 800 employees and generated revenue of 151.7 million euros with an EBITDA margin of 11.0 percent. 

Steen Associates acts as exclusive adviser to STAR Capital on their acquisition of Vincorion from Jenoptik AG.

Ends

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London  |  Monday 22 March 2021

Steen Associates acts as financial adviser to Meigui BV

Steen Associates acted as financial adviser to the Vandenberg company and its shareholders on the sale of its China business to the Australian Group Lynch and the subsequent IPO of the enlarged Group.

Steen Associates negotiated the transaction and valued the constituent parts of the business. Steen were introduced to the situation by Aad Van Noord, and Burckhard Schneider both well known in the aerospace industry and past shareholders of Interturbine, who were shareholders in this new venture.

The China business of Vanden Burg had revenues approaching $200m and the IPO of Lynch Group raised AUD $206m of new money

Ends

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Frankfurt am Main  | Thursday 17 December 2020

Strategic advice to Wegmann Unternehmens-Holding on the new corporate governance structure of KNDS

Joerg Freimund and the Steen Associates team continues it's long association with Wegmann Unternehmens-Holding, the 50% shareholder of KNDS, the European land systems and vehicle manufacturer, by assisting in the creation of its new corporate governance structure.

With this new structure, the owners of the Franco-German manufacturer of military land systems – the French state holding company GIAT Industries and the German family-owned Company Wegmann Unternehmens-Holding are continuing on the path they forged in 2015: advancing in defined milestones towards the creation of a leader in its field.

Commenting on the new strategic arrangements Joerg Freimund and Jason Steen said " we are delighted to congratulate Frank Haun to his new position as sole CEO and look forward to future years of cooperation and endeavours".

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London  | Tuesday 18 August 2020

eCube Solutions has been sold to Baird Capital Partners

eCube Solutions, a leading provider of aircraft end-of-life services, has been sold to Baird Capital. Steen Associates acted as sole financial advisor to the shareholders of eCube Solutions Ltd.

eCube solutions is the European leader in aircraft end-of-life services to many of the world’s major leasing companies, airlines, investment funds and MRO and parts distribution companies. Core services provided by eCube include aircraft storage, disassembly and parts re-use and recycling services.

Steen Associates conducted a review of all options for the shareholders of eCube, including but not limited to: a refinancing, sale to trade buyer, IPO and partnership with family offices. For a number of reasons, including retaining material equity upside, the final result involved a refinancing with Baird Capital.

Steen Associates also completed a detailed strategic review of eCube prior to sale ensuring the shareholders were best placed to achieve maximum value despite the unprecedented challenges to the aviation sector posed by COVID-19, resulting in the bulk of the transaction being carried out remotely.

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Frankfurt am Main  | Wednesday 12 February 2020

Drehtainer GmbH has been acquired by MAGNUS Holding GmbH & Co. KG.

Drehtainer GmbH, a leading manufacturer of mobile protection systems, has been acquired by the German Single-Family Office MAGNUS Holding GmbH & Co. KG. Steen Associates acted as sole financial advisor to the shareholders of Drehtainer GmbH.

Drehtainer GmbH is a German manufacturer of special containers and special vehicles with extensive expertise in the implementation of protection concepts for civil, medical and military sectors.

The shareholder-managed company develops and produces unique modular systems for infrastructures and vehicles whose level of protection can be individually adapted through different steps of integration. In addition to numerous NATO forces, the company's international clientele also includes OEMs from the defense and aerospace industry.

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Frankfurt am Main  |  Tuesday 12 March 2019

Desay SV Automotive's acquisition of Antennentechnik ABB Bad Blankenburg

Desay SV Automotive's acquisition of Antennentechnik ABB Bad Blankenburg completed today.

Steen Associates acted as sole financial advisor to the board of Desay SV Automotive.

LONDON  |  Wednesday 16 January 2019

Morvern Group has acquired Tarpey Harris Ltd

Tarpey Harris Ltd a leading manufacturer of wax moulded parts, metallic tooling and machined parts supplied to the aerospace and Industrial gas turbine engine markets, has been acquired by Morvern Group, a company established by an investor group to assemble leading aerospace businesses with dynamic management teams.

Steen Associates acted as sole financial adviser to Movern Capital, working with management, identifying Morvern Group, and leading the debt and equity raising.

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Frankfurt am Main  |  Tuesday 19 September 2017

Wulf Ihler appointed Partner at Steen Associates

Steen Associates is further strengthening its international business with Wulf Ihler joining the Frankfurt office as a Partner. He will focus on origination and execution of merger & acquisition transactions in the general industrials and in the automotive sector. He will work closely with his colleagues at Steen Associates’ office in London and Paris to increase the firm’s cross-border transaction capabilities.

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London  |  Monday 12 June 2017

Shaanxi Ligeance Mineral Resources (SLMR) completes its acquisition of Gardner Aerospace for £326m

Further to the announcement made on Wednesday 16 November 2016 Shaanxi Ligeance Mineral Resources ("SLMR") and its subsidiary Chengdu Aerospace Superalloy Technology ("CAST") is pleased to announce its acquisition of Gardner Aerospace has now completed.

The transaction provides SLMR and CAST:

  • – Access to a world class aerospace manufacturer of scale;
  • – Strong European customer base with an order book in excess of €1 billion;
  • – Experienced and international management team; and
  • – Material opportunities for growth in both domestic markets but also exciting China / Asian growth markets

Gardner is a European leader in the manufacture of aerospace parts supplied to aerospace OEMs – notably Airbus and other airframe and engine manufacturers. The business is headquartered in Derby, UK, and has additional manufacturing locations across Europe and in India, employing 1500 people. Gardner employs 690 staff in the UK. The company has revenues of approximately £150m and operating margins of around 20%, and is well positioned on existing Airbus platforms including the A320, A330, and A350.

SLMR is an aerospace and mining corporation. SLMR mining division owns a number of rhenium mines in Northern Huashan, with proven reserves equal to 7% of the global market. Rhenium is a rare mineral used in the production of superalloys that are vital in the manufacture of aerospace components. Both SLMR and CAST have close relationships with the regional and national Chinese authorities.

Jim Heaviside from CAST, who will sit on the Gardner Board and lead the development of the group, commented, "As an ambitious trade buyer, we think this is a very exciting development for Gardner as it moves from financial ownership towards a strategic owner with clear plans for further growth domestically and globally. SLMR and CAST have been looking for a solid acquisition like this for some time and we are absolutely convinced that Gardner has the long-term attributes we are looking for – strong management, technical proficiency, embedded customer relationships and high potential for growth."

The proposed transaction remains subject to certain regulatory and other approvals (including from the shareholders of Gardner Aerospace, following consultation with Gardner's works council in France).

Ends

Notes to Editors:

1

Shaanxi Ligeance Mineral Resources Co., Ltd. is an A-share listed company on the China main board Market with stock code 000697. Their main business is divided into two sections: the mining sector and the aviation sector. Market value 12 billion yuan (£1.35 billion), 500 million yuan (£56 million) cash balance.

2

CAST is a wholly owned subsidiary of Shaanxi Ligeance Mineral Resources Co., Ltd. based in Chengdu, China – home of the Panda.

3

Key personnel: Lizhi Wang – CAST CEO and SLMR VP – one of China's government's "the one-thousand-talents scheme". Expert of Aero & IGT engine manufacturing and MRO. Worked for RR, GE, Honeywell as aerospace industrial company operation and supply chain quality executive. Familiar with aero-engine supply chain development and management, manufacturing, international certification process and aviation special processes.

4

Key personnel: James Heaviside – CAST NBD & Globalization Executive (America & Europe). Over 45 years of international experience in aerospace companies such as Boeing, GE and Smiths Aerospace. Full range of global perspectives, powerful skill in negotiation and corporation merging. Strong expertise in America, Europe and Asia for JV and supply chain development.

5

Steen Associates London Office

27 Great Queen Street
London
WC2B 5BB

6

About Steen Associates

Steen Associates is an independent mergers and acquisitions company specialising in cross-border transactions in the aerospace & defence and industrials sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, Paris and Frankfurt.

For more details about Steen Associates please visit www.steenassociates.com.

7

Contact Details

Jason Steen
Partner
Steen Associates
London

T: +44 (0)20 7405 5040
E: jason@steenassociates.com

...read more

London  |  Friday 2 June 2017

Baird Capital, the direct private investment arm of Robert W. Baird & Co., announced today that it has acquired a majority interest in CAV Ice Protection Limited and CAV Advanced Technologies Ltd (CAV)

CAV is headquartered in Consett, County Durham. The Company's proprietary Ice Protection systems provide a unique solution to a critical safety challenge across numerous segments of the aerospace market. CAV is also a technology and manufacturing partner to major commercial OEMs for hybrid laminar flow control (HLFC) drag reduction systems.

Steen Associates provided financial advisory services including a strategic review.

Ends

Notes to Editors:

1

Steen Associates London Office

27 Great Queen Street
London
WC2B 5BB

2

About Steen Associates

Steen Associates is an independent mergers and acquisitions company specialising in cross-border transactions in the aerospace & defence and industrials sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, Paris and Frankfurt.

For more details about Steen Associates please visit www.steenassociates.com.

3

Contact Details

Jason Steen
Partner
Steen Associates
London

T: +44 (0)20 7405 5040
E: jason@steenassociates.com

...read more

London  |  Wednesday 16 November 2016

Shaanxi Ligeance Mineral Resources (SLMR) is to acquire Gardner Aerospace for £326m

It was announced today that Gardner Aerospace – one of Europe's market leaders in aerospace metallic detailed parts – is to be acquired by Shaanxi Ligeance Mineral Resources ("SLMR") and its subsidiary Chengdu Aerospace Superalloy Technology ("CAST"), for £326m in cash. SLMR, which is listed on the Shenzhen stock exchange with a market capitalisation of £1.4bn, is being advised by Steen Associates, Herbert Smith Freehills and KPMG in connection with the acquisition.

Commenting on the transaction, Lizhi Wang, Vice President of SLMR and CEO of CAST said, "The acquisition of Gardner will allow us to serve our customers better – in China and the rest of the world – for decades to come. With the management team at Gardner together with our advisers – we intend to further consolidate the global aerospace supply chain through careful strategic acquisitions."

Gardner is a European leader in the manufacture of aerospace parts supplied to aerospace OEMs – notably Airbus and other airframe and engine manufacturers. The business is headquartered in Derby, UK, and has additional manufacturing locations across Europe and in India, employing 1500 people. Gardner employs 690 staff in the UK. The company has revenues of approximately £150m and operating margins of around 20%, and is well positioned on existing Airbus platforms including the A320, A330, and A350.

SLMR is an aerospace and mining corporation. SLMR mining division owns a number of rhenium mines in Northern Huashan, with proven reserves equal to 7% of the global market. Rhenium is a rare mineral used in the production of superalloys that are vital in the manufacture of aerospace components. Both SLMR and CAST have close relationships with the regional and national Chinese authorities.

Jim Heaviside from CAST, who will sit on the Gardner Board and lead the development of the group, commented, "As an ambitious trade buyer, we think this is a very exciting development for Gardner as it moves from financial ownership towards a strategic owner with clear plans for further growth domestically and globally. SLMR and CAST have been looking for a solid acquisition like this for some time and we are absolutely convinced that Gardner has the long-term attributes we are looking for – strong management, technical proficiency, embedded customer relationships and high potential for growth."

The proposed transaction remains subject to certain regulatory and other approvals (including from the shareholders of Gardner Aerospace, following consultation with Gardner's works council in France).

Ends

Notes to Editors:

1

Shaanxi Ligeance Mineral Resources Co., Ltd. is an A-share listed company on the China main board Market with stock code 000697. Their main business is divided into two sections: the mining sector and the aviation sector. Market value 12 billion yuan (£1.35 billion), 500 million yuan (£56 million) cash balance.

2

CAST is a wholly owned subsidiary of Shaanxi Ligeance Mineral Resources Co., Ltd. based in Chengdu, China – home of the Panda.

3

Key personnel: Lizhi Wang – CAST CEO and SLMR VP – one of China's government's "the one-thousand-talents scheme". Expert of Aero & IGT engine manufacturing and MRO. Worked for RR, GE, Honeywell as aerospace industrial company operation and supply chain quality executive. Familiar with aero-engine supply chain development and management, manufacturing, international certification process and aviation special processes.

4

Key personnel: James Heaviside – CAST NBD & Globalization Executive (America & Europe). Over 45 years of international experience in aerospace companies such as Boeing, GE and Smiths Aerospace. Full range of global perspectives, powerful skill in negotiation and corporation merging. Strong expertise in America, Europe and Asia for JV and supply chain development.

5

Steen Associates London Office

27 Great Queen Street
London
WC2B 5BB

6

About Steen Associates

Steen Associates is an independent mergers and acquisitions company specialising in cross-border transactions in the aerospace & defence and industrials sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, Paris and Frankfurt.

For more details about Steen Associates please visit www.steenassociates.com.

7

Contact Details

Jason Steen
Partner
Steen Associates
London

T: +44 (0)20 7405 5040
E: jason@steenassociates.com

...read more

Frankfurt  |  Friday 24 June 2016

Francotyp-Postalia refinances €120m syndicated loan with international consortium of banks

Steen advised Francotyp-Postalia Holding AG ("FP"), a leading international expert in mail communication, on syndication of an expanded loan agreement.

With effect from 24 June 2016, FP signed a new syndicate loan agreement with a strong, international consortium of banks comprising Commerzbank Aktiengesellschaft, Deutsche Postbank AG, Landesbank Baden-Württemberg and UniCredit Bank AG. The agreement has a total volume of €120m and an increase option of €30m. It also has a term of five years that can be extended twice for an additional year in each case.

The improved Group financing is one of the operational excellence measures in place to position the company even better for the future and move it to a higher growth path. Rüdiger Andreas Günther (CEO) explains: "The funding agreement that has been concluded reflects FP's strengthened position on the market. With significantly greater flexibility to take action, we now have a very good basis to drive the FP Group's profitable growth in the years to come."

Steen Associates acted as sole debt adviser to FP advising on participants, structure and negotiations of the syndicated loan agreement. Joerg Freimund, Partner at Steen Associates said "This transaction demonstrates Steen's ability to support its clients in all types of complex corporate finance transactions ‎and highlights Steen's expertise in the field of debt advisory."

Ends

Notes to Editors:

1

Steen Associates Frankfurt Office

Brentanostraße 6
60325 Frankfurt
Germany

2

About Steen Associates

Steen Associates is an M&A advisory firm specialising in the aerospace, defence and industrial sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, Paris and Frankfurt.

For more details about Steen Associates please visit www.steenassociates.com.

3

Contact Details

Joerg Freimund
Partner
Steen Associates
Frankfurt

T: +49 69 770 1992 00
E: joerg@steenassociates.com

...read more

London  |  Wednesday 4 May 2016

Sigma Precision Components is acquired by Silverfleet Capital for a cash consideration of £65 million

It was announced today (4 May 2016) that Sigma Precision Components ("Sigma"), a UK based company manufacturing rigid pipe and ducting systems for commercial aerospace customers including Rolls Royce and Bombardier has been acquired by Silverfleet Capital for £65 million.

Sigma is headquartered in Hinckley in Leicestershire and has four UK based facilities and two facilities in China – Xi'an and Chengdu. Sigma recently acquired the rigid pipe operations of Rolls Royce, which formed part of the sales process and ultimate sale to Silverfleet Capital. The transaction is conditional on competition clearance and Avingtrans plc shareholder approval and is expected to close shortly.

Silverfeet Capital is a leading, independent, European private equity firm specialising in mid-market buyouts with an investment team based in London, Munich and Paris.

Avingtrans plc, the parent company of Sigma, is an AIM listed engineering company focussing on highly engineered components, systems and services to the aerospace, energy, medical and traffic management industries worldwide.

Steen Associates acted as exclusive financial adviser to the board of Avingtrans plc.

Ends

Notes to Editors:

1

Steen Associates London Office

27 Great Queen Street
London
WC2B 5BB

2

About Steen Associates

Steen Associates is an M&A advisory firm specialising in the aerospace, defence and industrial sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, Paris and Frankfurt.

For more details about Steen Associates please visit www.steenassociates.com.

3

Contact Details

Jason Steen
Partner
Steen Associates
London

T: +44 (0)20 7405 5040
E: jason@steenassociates.com

...read more

Paris  |  Thursday 3 December 2015

Emmanuel Roger appointed Partner at Steen Associates

Emmanuel Roger has diversified experience across the industry having held positions as a manager in the Automotive industry, investor in a private equity fund, and since 1987 has been a M&A industry sector specialist and has senior coverage in Investment Banking at Société Générale, Lehman Brothers and Nomura.

His key domains of expertise are in Automotive, Aerospace & Defence, Steels and Metals, Electricals and Capital Goods. He is the primary France-based contact for the firm and has the background of a wide a geographical exposure to North America, Asia & Japan, Eastern Europe/Russia and Western Europe with an international network of numerous industrial decision-makers and executives built over his three decades of experience.

Emmanuel has a longstanding dedication to the French and German relations with a German education an der TH Darmstadt (Maschinenbau), a large bilateral advisory expertise developed during four years in Germany as a managing partner of CCF – Interfinanz with more than 30 French-German completed M&A transactions.

Emmanuel was formerly Chairman of Industrials Europe at Nomura Investment Banking, which he joined in 2009.

He won awards from both Financial News and Thomson Financials for European Sell-Side mandate of the year in 2008 and European cross border deal of the Year in 2004.

Commenting on his appointment Emmanuel said: "Steen Associates is one of the most successful M&A boutiques specialising in cross-border transactions in the industrials sector and I am delighted to be joining the team. I look forward to using my understanding and knowledge to complement the firm's existing activity and expand our geographical reach into French speaking countries."

Ends

Notes to Editors:

1

Steen Associates Paris Office

9, rue du Quatre Septembre
75002 Paris

2

About Steen Associates

Steen Associates is an M&A advisory firm specialising in the aerospace, defence and industrial sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, New York and Frankfurt.

For more details about Steen Associates please visit www.steenassociates.com.

3

Contact Details

 

Joerg Freimund
Partner
Steen Associates
Frankfurt

T: +49 69 770 1992 00
E: joerg@steenassociates.com

Emmanuel Roger
partner
Steen Associates
Paris

T: +33 1 000 000 000
E: emmanuel@steenassociates.com

Jason Steen
Partner
Steen Associates
London

T: +44 (0)20 7405 5040
E: jason@steenassociates.com

...read more

Munich / Versailles  |  Wednesday 29 July 2015

KMW and Nexter agree to merge, creating a € 2bn European defence technology group

As announced a year ago, Nexter Systems and Krauss-Maffei Wegmann, two of Europe's leading manufacturers of military land defence systems, intend to share their future road ahead. The corresponding agreement was signed on 29 July 2015 in Paris. The alliance of the two groups under the umbrella of a joint holding company creates a Franco-German defence technology group with a current annual turnover nearing 2 billion euro, an order book of around 9 billion euro and more than 6,000 employees.

KMW, Nexter and their owners view this step as decisive for the consolidation of the defence technology industry in Europe. The product portfolios of the two companies and their regional presences on the world market complement each other. The alliance of KMW and Nexter creates a group with the momentum and innovative force required to succeed and prosper in international competition. In addition, it offers to its European and NATO customers the opportunity of increased standardisation and interoperability for their defence equipment, with a dependable industrial base.

Besides, this new strategic alignment makes it possible to retain jobs and skills in the heart of the European Union. The two CEOs confirm that the alliance will have no social consequence or impact neither on employment nor on the collective agreements in place. Whenever the new group would develop any consolidation project, this would be based on the principle of protecting the balance between the two operational companies as well as protecting their related technologies, know-how and competences.

Nexter S. A. had been in the sole ownership of the French State holding company GIAT Industries S. A.; Krauss-Maffei Wegmann GmbH & Co. KG had been in the sole ownership of Wegmann GmbH & Co. in Kassel. For the unification of the two companies, the sole owners are contributing their shares into a newly incorporated joint holding company based in the Netherlands. They will each receive 50 per cent of the shares of this holding company, which will become the sole shareholder in KMW and Nexter. The governance of the holding company will reflect the equal balance between the two shareholders with a long-term industrial perspective.

Steen Associates acted as exclusive adviser to Krauss-Maffei Wegmann GmbH & Co. KG.

Ends

Notes to Editors:

1

Steen Associates Frankfurt Office

Brentanostraße 6
60325 Frankfurt
Germany

2

About Steen Associates

Steen Associates is an M&A advisory firm specialising in the aerospace, defence and industrial sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, New York and Frankfurt.

For more details about Steen Associates please visit www.steenassociates.com.

3

Contact Details

 

Joerg Freimund
Partner
Steen Associates
Frankfurt

T: +49 69 770 1992 00
E: joerg@steenassociates.com

Jason Steen
Partner
Steen Associates
London

T: +44 (0)20 7405 5040
E: jason@steenassociates.com

...read more

Frankfurt  |  Tuesday 30 June 2015

Firstmark is acquired by H-D Manufacturing in $84m cash merger

It was announced today (30 June 2015) that Firstmark Corp, a Maine corporation headquartered in Richmond, Virginia has been acquired by H-D Advanced Manufacturing, a Delaware Corporation headquartered in Pittsburgh Pennsylvania in a $84m cash merger. Firstmark, through its subsidiaries, manufactures and sells components and sub-assemblies that are used in the aerospace and defense industries.

Firstmark also designs, manufactures and repairs precision electronic, electromechanical and mechanical components and systems for the aerospace and defense industries, as well as aircraft safety restraints and leading edge inflatables technology safety products for military, commercial and civil aircraft.

To learn more about Firstmark, visit its website at www.firstmarkcorp.com.

Steen Associates acted as financial adviser to Firstmark and conducted the sales process. Steen Associates also provided the Fairness Opinion to the Special committee of the Board.

H-D Advanced Manufacturing was formed in 2012 by a partnership among The Riverside Company, Hicks Equity Partners and Weinberg Capital Group. The company manufactures high precision mission critical products and applications for the aerospace, and oil and gas sectors.

Ends

Notes to Editors:

1

Steen Associates New York Office

250 Park Avenue,
7th Floor
New York, NY 10177
USA

2

About Steen Associates

Steen Associates is an M&A advisory firm specialising in the aerospace, defence and industrial sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, New York and Frankfurt.

For more details about Steen Associates please visit www.steenassociates.com.

3

Contact Details

 

Jason Steen
Partner
Steen Associates
London

T: +44 (0)20 7405 5040
E: jason@steenassociates.com

Joerg Freimund
Partner
Steen Associates
Frankfurt

T: +49 69 770 1992 00
E: joerg@steenassociates.com

...read more

Frankfurt  |  Friday 13 May 2015

Christopher Heinrich joins Steen Associates

We are pleased to announce that Christopher Heinrich is joining Steen Associates as an Analyst. As a native English and German speaker, he will work on all aspects of transactions with a strong focus on expanding our European profile. Christopher was educated in the USA and Australia and has worked in Germany, USA, Australia, and Switzerland. He previously held positions at Translink Corporate Finance and Australia and New Zealand Banking Group.

Frankfurt  |  Monday 17 November 2014

Steen advises Jenoptik AG on its acquisition of Vysionics Ltd

Jenoptik, the integrated optoelectronics group, has bought 92 percent of the shares in Vysionics, one of the UK's leading suppliers of road safety technology systems. Steen Associates acted as exclusive financial adviser to Jenoptik on this project.

The remaining shares continue to be held by the Vysionics management team. Vysionics provides automatic number plate recognition ("ANPR") traffic enforcement, access management and information systems to a wide range of private and public sector organisations such as highway authorities, construction contractors, local authorities, parking contractors, rail authority and police forces. The transaction between Jenoptik and Vysionics' main shareholder LDC was completed on November 14, 2014. Both parties agreed to keep the purchase price confidential.

Frankfurt  |  Wednesday 2 July 2014

KMW and Nexter announce their intention to merge – Steen Associates is acting as exclusive financial adviser to KMW

Krauss-Maffei Wegmann GmbH & Co. KG ("KMW") of Germany and Nexter Systems SA ("Nexter") of France, two leading European defence companies, are announcing today that they plan to merge. An agreement in principle was signed in Paris yesterday by the two companies and their shareholders, the privately-held Wegmann GmbH & Co. and the French state-owned GIAT Industries. The combined group will have revenue of approx. €2bn, an order book of approx. €6.5bn, and more than 6,000 employees.

The transaction is expected to be finalised in early 2015 and will be the largest transaction in the European defence industry for many years. Joerg Freimund, who is leading the transaction for Steen Associates, said, "This is an example of French and German cooperation in this sector as well as a major step forward in the consolidation of Europe's defence industrial supply base."

Steen Associates is the exclusive financial adviser to KMW on this transaction.

Ends

Notes to Editors:

1

Steen Associates Frankfurt Office

Brentanostraße 6
60325 Frankfurt
Germany

2

About Steen Associates

Steen Associates is an M&A advisory firm specialising in the aerospace, defence and industrial sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, New York and Frankfurt.

For more details about Steen Associates please visit www.steenassociates.com.

3

Contact Details

 

Jason Steen
Partner
Steen Associates
London

T: +44 (0)20 7405 5040
E: jason@steenassociates.com

Joerg Freimund
Partner
Steen Associates
Frankfurt

T: +49 69 770 1992 00
E: joerg@steenassociates.com

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