L Squared Capital Partners Commits $60 million to Raptor Scientific to Consolidate the Aerospace & Defense-Focused Testing and Measurement Sector
Raptor Scientific’s first acquisition of Space Electronics is a leading provider of mass properties and electronic testing solutions
NEWPORT BEACH, Calif., September 10, 2019-- L Squared Capital Partners (“L Squared”) is pleased to announce that it has committed $60 million of equity to Raptor Scientific, LLC (“Raptor Scientific” or the “Company”) to pursue an aggressive M&A strategy consolidating the highly fragmented Aerospace & Defense-focused testing and measurement market. Raptor represents L Squared’s ninth platform investment over the last five years.
Raptor Scientific’s first acquisition of Space Electronics brings the leading player of mass properties and electronic circuit tester solutions into the portfolio. These precision measurement solutions are used by Aerospace & Defense OEMs and research organizations to develop mission-critical applications across unmanned aerial vehicles, satellites, commercial aerospace, military aviation, and defense weapon systems. The entire Space Electronics management team will stay with the Company post-closing.
“The Space Electronics team has built deep customer relationships by providing world class precision measurement solutions used in mission-critical applications across the Aerospace & Defense sector,” said Sean Barrette, Partner of L Squared. “L Squared’s long term capital base and execution of our M&A strategy will allow Raptor Scientific to assemble a growing portfolio of products and solutions that will add more value to the Company’s customer base over time.”
L Squared and Raptor Scientific plan to add additional resources to the platform post-closing including the addition of a new CEO for Raptor Scientific to lead the M&A strategy as well as additional sales & marketing resources both domestically and in key international markets. McDermott + Bull has been engaged by the Company to lead the CEO search.
“We are thrilled to partner with the Space Electronics team as we build the Raptor Scientific platform,” said Jeff Farrero, Managing Partner at L Squared. “We are committed to providing the capital and strategic resources to accelerate growth and build Raptor Scientific into a leading provider of mission-critical testing & measurement solutions to the Aerospace and Defense sector.”
Vedder Price served as legal counsel to L Squared. Harris Williams served as an advisor and Ice Miller served as legal counsel to Space Electronics. The L Squared deal team was comprised of Sean Barrette, Jeff Farrero, and Tyler Huez.
About Raptor Scientific
Raptor Scientific was founded in 2019 by L Squared Capital Partners and backed with a $60 million equity commitment to consolidate the highly fragmented Aerospace & Defense focused testing and measurement market. The Company completed its first acquisition of Space Electronics in September 2019. For more information, please visit the website: www.raptor-scientific.com.
About Space Electronics
Headquartered in Berlin, Connecticut, Space Electronics is a leading global provider of mass properties instruments and services and electronic circuit testers utilized in mission-critical applications across unmanned aerial vehicles, satellites, commercial aerospace, military aviation, and defense weapon systems. The company’s unmatched engineering expertise, combined with its superior testing and aftermarket services delivers industry-leading precision capabilities and a highly loyal customer base. For additional information, please visit www.space-electronics.com.
About L Squared Capital Partners
L Squared Capital Partners is an investment firm with offices in Newport Beach, CA, and Chicago, IL, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Tech-Enabled Services & Software, Industrial Technology & Services, and Education Technology. Our unique investor base of family offices enables us to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over a decade and have over 60 years of combined experience investing in growing private companies. For additional information, please visit www.lsquaredcap.com.
This press release is for informational purposes only and is not intended as investment advice or an offer or solicitation with respect to the purchase of any investment. Investing with any investment firm is suitable only for qualified investors that fully understand the risks of such an investment. L Squared Capital Partners is an investment adviser registered with the United States Securities and Exchange Commission. Investments with L Squared Capital Partners are only offered in accordance with applicable securities laws.
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