June 10, 2019 Update


Angeles Equity Partners, LLC acquired privately held APCT, Inc.
APCT is a manufacturer of reliable, quick-turn printed circuit board (PCB) prototypes with global production management capabilities. Founded in 1977, the company provides expertise in design for manufacturability (DFM) engineering and global program management.

BAE Systems, Inc., the U.S. subsidiary of BAE Systems plc (LSE: BA.L) completed the acquisition of the key assets of Riptide Autonomous Solutions, LLC.
Riptide Autonomous Solutions is a provider of innovative, affordable unmanned underwater vehicle (UUV) technology and solutions specializing in small UUVs.

Infinite Electronics, Inc., a portfolio company of Genstar Capital, LLC, acquired privately held Integra Optics, Inc.
Integra Optics, Inc. is a provider of high-quality optical transceiver products and solutions. Founded in 2007, Integra is recognized for innovative network solutions, product reliability, technical expertise and personalized customer service.

Heroux-Devtek, Inc. (TSX: HRX.TO) acquired privately held Alta Precision, Inc.
Alta Precision Inc. manufactures complex landing gear components and assemblies for large customers such as Embraer, Safran, Liebherr and the United States Air Force.

Hanwha Aerospace, a subsidiary of Hanwha Corp., entered into an agreement to acquire EDAC Technologies Corp., a portfolio company of Greenbriar Equity Group, L.P.
EDAC Technologies Corp is a manufacturer of precision components for aircraft engines and airframes. Founded in 1946 as Gros-Ite Industries, the company’s clients include Pratt & Whitney, General Electric and Rolls-Royce.

Global capital and private equity firm Insight Partners (formerly known as Insight Venture Partners) acquired privately held Recorded Future, Inc.
Recorded Future is described by Insight as ‘the largest privately-held threat intelligence software company in the world’, whose threat intelligence software automatically collects and analyzes intelligence from technical, open web, and dark web sources and aggregates customer-proprietary data.

Park-Ohio Industries, Inc. (NasdaqGS: PKOH) completed its acquisition of EFCO, Inc., doing business as Erie Press Systems.
Erie Press Systems is a manufacturer of advanced forging presses, hydraulic and mechanical presses, and metal stretch-forming and carbon extrusion machines for several end markets, including aerospace and defense, primary metals and high-speed rail.

Teledyne Technologies, Inc. (NYSE: TDY) submitted a binding offer to acquire the gas and flame detection business of The 3M Co. (NYSE: MMM).
The gas and flame detection business includes Oldham, Simtronics, Gas Measurement Instruments (GMI), Detcon and select Scott Safety products. The gas and flame detection business provides a portfolio of fixed and portable industrial gas and flame detection instruments used in a variety of industries including petrochemical, power generation, oil & gas, food & beverage, mining and waste water treatment.

Thales S.A. (Paris: HO.PA) acquired privately held Psibernetix, Inc.
Psibernetix is a pioneer in computationally efficient artificial intelligence (AI) technologies. Psibernetix was originally made famous by its aerial combat application called ALPHA, which consistently defeated the world’s top pilots in simulated air combat.

Consolidated Precision Products Corp. (CPP), a portfolio company of private equity firm Warburg Pincus, LLC, signed a definitive agreement to acquire the Cast Products business of Allegheny Technologies, Inc. (NYSE: ATI).
Allegheny Technologies, Inc., also known as Pacific Cast Technologies, Inc., is part of the High Performance Materials & Components (HPMC) segment. It produces titanium investment castings that are primarily used by aerospace & defense OEMs in the production of commercial jet airframes and engines.

Allegheny Technologies, Inc. (NYSE: ATI) agreed to sell two non-core forging facilities to private equity firm Wynnchurch Capital, LLC.
These facilities, located in Portland, Indiana and Lebanon, Kentucky, are part of ATI’s High Performance Materials & Components (HPMC) segment. They use primarily traditional forging methods to produce carbon steel forged products for use in the oil & gas, transportation and construction & mining industries.


Boeing Invests in Commercial UAS Services Provider Robotic Skies
Boeing [NYSE: BA] announced its investment in Robotic Skies, a services provider that connects manufacturers and operators of commercial unmanned aircraft systems (UAS) with a global network of more than 170 civil aviation authority-certified repair stations.

Centauri Announces New President and COO
Dennis Kelly Jr. has been appointed as the company’s new president and chief operating officer. He will support CEO Dave Dzaran in executing the company’s strategy and vision.

CFM56 Engine Fleet Surpasses One Billion Engine Flight Hours
This milestone represents the fastest accumulation on hours ever; the fleet reached 500 million hours in November 2010 and more than doubled that total in just over eight years.

CTS Engines Promotes Vesa Paukkeri to Chief Executive Officer
CTS Engines announced that it had promoted Vesa Paukkeri to Chief Executive Officer, completing its planned leadership transition. Mr. Paukkeri has served as President and Chief Operating Officer of the Company since his joining in 2012, prior to which he had spent 10 years at Finnair.

DSCA Notifies Congress of Possible Sale of F-16C/D Block 70/72 Aircraft with Support to Bulgaria
The State Department has made a determination approving a possible Foreign Military Sale to the Government of Bulgaria of F-16C/D Block 70/72 aircraft with support for an estimated cost of $1.673 billion. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale on May 30, 2019.

NASA Opens International Space Station to New Commercial Opportunities, Private Astronauts
NASA is opening the International Space Station for commercial business so U.S. industry innovation and ingenuity can accelerate a thriving commercial economy in low-Earth orbit.

Notable Global Regulatory Updates – June 9-15
Source: MRO-Network

The Civil Aviation Administration of China has issued its first all-in-one maintenance permit to Ameco
This is a major change in managing and supervising civil aviation maintenance. The permit is a single certificate signed by multiple departments, eliminating duplication of approvals issued to the same enterprise.

The administrator of the Civil Aviation Administration of China, the president of the EU Council and the European Commissioner for Mobility and Transport have signed an agreement between the government of the People’s Republic of China and the European Union on civil aviation safety, the first time that China and the EU have signed agreements in civil aviation.
The agreement establishes a legal framework for extensive cooperation between China and the EU in various areas, such as airworthiness and environmental certification, flight operations, air traffic control services, personnel licensing and training.

FAA has issued airworthiness directive 2019-10-03 for all Boeing 737-100s, -200s, -200Cs, -300s, -400s and -500s
The new directive requires repetitive detailed inspections of the left and right side-strut support fitting lugs with bushings installed for any corrosion, any crack, or any severed lug, repetitive detailed and high frequency eddy current inspections of the left and right side-strut support fitting lugs with bushings removed for any corrosion or any crack and applicable on-condition actions, effective July 11, 2019.

FAA has issued airworthiness directive 2019-08-11 for all Bombardier CRJ 100s and 440s
The new directive requires revising the maintenance or inspection program to incorporate certain airworthiness limitations and reworking the trunnion fitting in order to meet new structural safe-life limits, effective July 11, 2019.

Transport Canada has issued airworthiness directive CF-2019-20R1 for Bombardier: CRJ 700s, 701s, 702s, 705s, 900s and 1000s
Requiring incorporation of a functional task in the aeroplane maintenance schedule to confirm the free movement of the decompression panel on the flight compartment door, effective June 14, 2019.

Magnetic MRO Prepares For Ownership Change
Magnetic MRO is currently fully owned by Hangxin Aviation Services Co. However, on June 6, Magnetic MRO detailed plans to issue up to 30,158 new shares, with a nominal value of €6.40 each. The company’s share capital currently stands at €1.09 million, but this would rise to €1.28 million following the new shares issue. Magnetic MRO said Shenzhen Yongtai Trading Co. has been authorized to subscribe for up to 26,957 of the new shares, giving it a stake of up to 13.44% for €8 million. Sapphire Investment Holding Limited has also been authorised to subscribe for up to 3,201 new shares, or up to 1.60% of the company, for €950,000.