Harris Williams Advises Space Electronics LLC on its Sale to L Squared Capital Partners

Sep 10, 2019 10:56 am

Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Space Electronics LLC (Space Electronics), a portfolio company of Benford Capital Partners LLC (Benford Capital) and Coppermine Capital LLC (Coppermine), on its sale to L Squared Capital Partners (L Squared). Space Electronics is a leading manufacturer of mass properties measurement instruments and electronic test solutions. The transaction was led by Giles Tucker, Chris Toussaint and Shinik Patel of the Harris Williams Industrials Group and Chris Smith of the firm’s Aerospace, Defense & Government Services (ADG) Group.

“Space Electronics’ expertise in precision engineering and manufacturing allows the company to produce extraordinarily accurate and customizable measurement instruments, deployed across numerous mission-critical applications,” said Giles Tucker, a managing director at Harris Williams. “This transaction clearly reflects the broad market interest and strong momentum that Harris Williams continues to see with respect to industrial technology businesses.”

“We are thrilled to have worked with Space Electronics and its outstanding management team on this transaction and look forward to seeing what the company will achieve in its next chapter with L Squared,” said Chris Smith, a director at Harris Williams. “Leveraging the expertise of both our Industrials and ADG Groups underscores Harris Williams’ collaborative approach to helping clients find the optimal partner for their businesses.”

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 renowned engineering expertise, combined with its comprehensive testing and aftermarket services, delivers industry-leading precision capabilities and a highly loyal customer base.

Founded in 2004, Benford Capital is a Chicago-based private investment firm focused on buying and building lower-middle market businesses over the long term in partnership with management. Over the past 15 years, Benford Capital has acquired 17 companies, including several add-on acquisitions, and currently owns nine platform companies: Atlas RFID, U.S. Underwater Services, Ray Allen Manufacturing, Education Services Group, ENMET, Double L Group, Droplet Measurement Technologies, Saco Foods and Specialty Sales.

Coppermine is a Concord, Massachusetts-based private investment firm seeking to acquire control positions in small- to mid-size home healthcare, niche manufacturing and service companies. The firm targets companies with annual sales between $5 and $25 million. In addition to new investments, Coppermine is interested in add-on acquisitions that complement the companies in the firm’s portfolio. Founded in 2002, Coppermine has a long-term investment horizon and is positioned to support investments over many years and business cycles. The firm takes a team approach and works in partnership with management to achieve the goal of lasting value and long-term growth.

L Squared is an investment firm with offices in Newport Beach, California, and Chicago, Illinois, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: tech-enabled services and software; industrial technology and services; and education technology. L Squared’s unique investor base of family offices enables the firm 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.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams Industrials Group has experience across a variety of sectors, including advanced manufacturing; aggregates, metals, and mining; building products; chemicals and specialty materials; industrial technology; and packaging. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials Group’s section of the Harris Williams website.

The Harris Williams ADG Group offers strategic advice to a global base of leading aerospace, defense and government services clients. For more information on the ADG Group and other recent transactions, visit the ADG Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: [email protected]). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

For media inquiries, please contact Katie Langemeier, associate brand manager, at +1 (804) 648-0072.

Katie Langemeier, associate brand manager
+1 (804) 648-0072