D.A. Davidson & Co. announced today that it served as exclusive financial advisor to Karman Missile & Space Systems, a portfolio company of Trive Capital, in its acquisition of AAE Aerospace, a leading manufacturer of high temperature composites for the missile, interceptor, and space sectors.
Karman is one of the largest independent "pure play" suppliers focused on manufacturing complex and exacting systems for the space, missile, interceptor and hypersonic markets. Karman operates three centers in greater Los Angeles, a historical and key source for space and missile design and manufacturing while also maintaining a presence in Washington, D.C. and Huntsville, Ala., the newly announced headquarters for the U.S. Space Force.
"AAE has an exceptional reputation, team, and market position in composite technologies for missile and space," said David Stinnet, partner at Trive Capital. "The acquisition of AAE is a significant step forward for Karman, allowing us to deliver more complete subsystems bonding the mating portions of metallic and composite structures. This partnership also adds coveted content positions on the most strategic rocket, missile defense, and hypersonic platforms, while opening up significant cross selling opportunities for Karman."
Headquartered in Huntington Beach, Calif., AAE is one of the largest rocket nozzle and space sector product suppliers in the United States. AAE provides ablative, insulative and other advanced materials used on current and next-generation launch vehicles, missiles and hypersonics. The addition of AAE with Karman’s existing capabilities creates a diversified platform across every major segment within the space sector.
"The inclusion of AAE brings decades of advanced materials and ultra-high temperature composites capabilities to Karman and integrates strategically with the metallic capabilities represented by Aerospace Engineered Corp. and AMRO," said Paul Weisbrich, managing director and leader of aerospace, defense and space investment banking at D.A. Davidson. "The Company’s technological advances in materials science supports all major next generation propulsion technologies, making Karman a leader in both composite and metallic structures. AAE, AEC and AMRO operating as Karman Missile & Space Systems creates the best-in-class pure play space supply chain company. Trive sees the future of the industry and is making it happen today."
This transaction highlights the continued success of D.A. Davidson’s Diversified Industrials practice and its focus on aerospace, defense and space, further demonstrating the firm's position as a leading advisor in this sector.
D.A. Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across five industry verticals: consumer, diversified industrials, financial institutions, real estate and technology.
Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland and Seattle, the company has approximately 1,400 employees and offices in 27 states.
Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For more information, visit dadavidson.com.
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