Kratos Defense & Security Solutions Inc. has won M&A Advisor’s “Equity Financing Deal of the Year” award for 2012, recognizing the company’s public offering of common stock raising $100 million in conjunction with its acquisition of Composite Engineering Inc.
Kratos said it completed the acquisition of the unmanned aerial target systems and composite structures manufacturer in July.
CEI’s aircraft contain Kratos-made electronics and avionics systems, while CEI’s aerial systems contain Kratos-made ground control flight stations and electronics.
“With CEI, Kratos’ business today is primarily focused on very specialized products and solutions supporting national security priority areas, including unmanned aerial systems, missile defense, electronic warfare and satellite communications,” said Eric DeMarco, Kratos’ president and CEO. “A substantial portion of CEI’s business is with international customers, and today approximately 30 percent of Kratos’ overall revenues are non-Department of Defense sourced, providing our company a significant, stable and growing portion of our business in the current challenging U.S. federal budgetary environment.”
This award follows a similar recognition from the Americas M&A Atlas Award on the transaction (click here for more coverage of that award).
CEI is a prime contractor for the U.S. Air Force AFSAT and U.S. Navy SSAT programs, and a subcontractor for the Air Force’s Miniature Air Launched Decoy and Navy’s Multi-Stage Supersonic Target programs.