Aeronautics Acquires US Company Chassis Plans for $6 Million
The California-based company is engaged in the development, manufacturing and integration of operating stations for unmanned systems and computing equipment for military and industrial applications
IsraelDefense
| 24/09/2017
Amos Matan, CEO of Aeronautics (Photo: Meir Azulay)
Aeronautics has signed an agreement to acquire the US-based company Chassis Plans for $3.8 million in cash. If the acquired company meets 80% of the revenue target of $15.3 million and the profit target of $1.6 million for 2018 as determined between the parties, Aeronautics will pay the sellers an additional amount of $1.6 million to $2.2 million, so that the total payment for the company could reach $6 million.
Chassis Plans is a private company that has been operating in California for 20 years in developing, manufacturing and integrating operating stations for unmanned systems and computer equipment for military and industrial applications. Most of the company's operations are focused on the US military market and its customers include several US defense giants such as Boeing, Lockheed Martin and General Dynamics. In 2016, the company's revenues totaled $15 million and net profit totaled $800k.
"Aeronautics intends to support and expand the operations of Chassis Plans and to make use of it in expanding its strategic hold and sales in the US, and as a platform for projects financed by the American Assistance Program," said Amos Matan, CEO of Aeronautics. "The marketing synergy that will be created through the acquisition of Chassis Plans will enable Aeronautics to access new and key customers in the US defense market," he added.
The acquired company joins the portfolio of the Aeronautics Group, which includes five companies: PoziDrone, RT, Controp, Commtact and Zanzottera. Aeronautics’ sixth company is expected to contribute to further growth in Aeronautics' revenues, which totaled $137 million last year, mainly due to organic growth of 13% in revenues and to the company's expanding customer base.
The completion of the transaction is subject to the cumulative fulfillment of a number of preconditions, among them the receipt of regulatory approvals required in the US, including approval from the Committee on Foreign Investment in the United States and the US Supervisory Commission for Defense Exports. The Company estimates that the transaction will be completed within 60 days of the signing date.
The California-based company is engaged in the development, manufacturing and integration of operating stations for unmanned systems and computing equipment for military and industrial applications
Amos Matan, CEO of Aeronautics (Photo: Meir Azulay)
Aeronautics has signed an agreement to acquire the US-based company Chassis Plans for $3.8 million in cash. If the acquired company meets 80% of the revenue target of $15.3 million and the profit target of $1.6 million for 2018 as determined between the parties, Aeronautics will pay the sellers an additional amount of $1.6 million to $2.2 million, so that the total payment for the company could reach $6 million.
Chassis Plans is a private company that has been operating in California for 20 years in developing, manufacturing and integrating operating stations for unmanned systems and computer equipment for military and industrial applications. Most of the company's operations are focused on the US military market and its customers include several US defense giants such as Boeing, Lockheed Martin and General Dynamics. In 2016, the company's revenues totaled $15 million and net profit totaled $800k.
"Aeronautics intends to support and expand the operations of Chassis Plans and to make use of it in expanding its strategic hold and sales in the US, and as a platform for projects financed by the American Assistance Program," said Amos Matan, CEO of Aeronautics. "The marketing synergy that will be created through the acquisition of Chassis Plans will enable Aeronautics to access new and key customers in the US defense market," he added.
The acquired company joins the portfolio of the Aeronautics Group, which includes five companies: PoziDrone, RT, Controp, Commtact and Zanzottera. Aeronautics’ sixth company is expected to contribute to further growth in Aeronautics' revenues, which totaled $137 million last year, mainly due to organic growth of 13% in revenues and to the company's expanding customer base.
The completion of the transaction is subject to the cumulative fulfillment of a number of preconditions, among them the receipt of regulatory approvals required in the US, including approval from the Committee on Foreign Investment in the United States and the US Supervisory Commission for Defense Exports. The Company estimates that the transaction will be completed within 60 days of the signing date.
