Transactions
July 30 2024
KippsDeSanto & Co. advises SyQwest, LLC. on its sale to CTS Corporation
KippsDeSanto & Co. is pleased to announce that its client, SyQwest, LLC (“SyQwest” or the “Company”), has been acquired by CTS Corporation (“CTS”, NYSE: CTS).
Headquartered in Cranston, RI, SyQwest is a leading designer and manufacturer of a broad set of sonar and acoustic sensing solutions primarily for the U.S. naval defense market. The Company’s solutions aid in navigation, guidance, and situational awareness for destroyers, submarines, torpedoes, and autonomous underwater vehicles (“AUVs”). Supporting the Navy’s modernization efforts and combat readiness, SyQwest is a critical link and trusted technology partner in the value chain for both government customers and prime contractors responsible for system integration.
Founded in 2003, SyQwest specializes in the design, engineering and manufacturing of advanced underwater sensors and systems that support a diverse range of Navy platforms. With expertise spanning a system’s entire lifecycle, SyQwest is a proven subject matter expert for customers requiring highly-complex precision acoustic sensors that meet exact mission requirements.
CTS is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia, and provides engineered products to customers in the aerospace / defense, industrial, medical, and transportation markets. By leveraging SyQwest’s strong technical capabilities and expertise in underwater acoustic applications, CTS will further its diversification strategy, now offering an integrated suite of naval defense solutions.
This transaction highlights several key trends in the aerospace / defense M&A markets:
• Strong value attributed to exposure to long-term modernization and recapitalization expenditures for the Navy’s ships and submarines
• Demand for suppliers that can support highly complex, mission critical systems, from design to production to maintenance across the Navy’s fleet
• M&A appetite for differentiating sub-sea technologies that provide a critical national security pillar
LEAD INVESTMENT BANKERS
Michael J. Misantone
Nathan C. Wilson
KippsDeSanto & Co. is pleased to announce that its client, SyQwest, LLC (“SyQwest” or the “Company”), has been acquired by CTS Corporation (“CTS”, NYSE: CTS).
Headquartered in Cranston, RI, SyQwest is a leading designer and manufacturer of a broad set of sonar and acoustic sensing solutions primarily for the U.S. naval defense market. The Company’s solutions aid in navigation, guidance, and situational awareness for destroyers, submarines, torpedoes, and autonomous underwater vehicles (“AUVs”). Supporting the Navy’s modernization efforts and combat readiness, SyQwest is a critical link and trusted technology partner in the value chain for both government customers and prime contractors responsible for system integration.
Founded in 2003, SyQwest specializes in the design, engineering and manufacturing of advanced underwater sensors and systems that support a diverse range of Navy platforms. With expertise spanning a system’s entire lifecycle, SyQwest is a proven subject matter expert for customers requiring highly-complex precision acoustic sensors that meet exact mission requirements.
CTS is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia, and provides engineered products to customers in the aerospace / defense, industrial, medical, and transportation markets. By leveraging SyQwest’s strong technical capabilities and expertise in underwater acoustic applications, CTS will further its diversification strategy, now offering an integrated suite of naval defense solutions.
This transaction highlights several key trends in the aerospace / defense M&A markets:
• Strong value attributed to exposure to long-term modernization and recapitalization expenditures for the Navy’s ships and submarines
• Demand for suppliers that can support highly complex, mission critical systems, from design to production to maintenance across the Navy’s fleet
• M&A appetite for differentiating sub-sea technologies that provide a critical national security pillar
LEAD INVESTMENT BANKERS
Michael J. Misantone
Nathan C. Wilson
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