Aerospace
Firstmark on its cash merger with H-D Advanced Manufacturing
Background
Firstmark Corp, a Maine corporation headquartered in Richmond, Virginia, has been acquired by H-D Advanced Manufacturing, a Delaware corporation headquartered in Pittsburgh, Pennsylvania. Steen Associates acted as financial adviser to Firstmark, conducted the sales process, and provided a Fairness Opinion to the Special Committee of the Board.
About the transaction
The acquisition was completed for a cash consideration of USD 84 million. Steen Associates led the transaction process on behalf of Firstmark, supporting the Board through execution and delivering an independent Fairness Opinion as part of the governance process.
About the client
Firstmark Corp designs, manufactures and repairs precision electronic, electromechanical and mechanical components and systems for the aerospace and defence industries. The company also supplies aircraft safety restraints and advanced inflatable safety products for military, commercial and civil aircraft. The acquirer, H-D Advanced Manufacturing, is an advanced manufacturing platform focused on specialised industrial and aerospace capabilities.
Date:
June 2015
Service:
Sell side
Size:
$84m
Deal locations:
