PLG is pleased to share that Ajax Defense’s acquisition of Dayton, Ohio-based aerospace and defense manufacturer Bitec has been named a finalist for Industrials Deal of the Year ($10MM to $25MM) in the 25th Annual M&A Advisor Awards.
PLG served as legal counsel to Ajax Defense on the all-cash transaction, in which Ajax acquired 100% of the equity interests of Sample Machining, Inc. (Bitec) and its affiliate, A3 Tec, LLC. Bitec brings more than four decades of experience producing high-precision machined components and advanced composite lay-up parts for prime contractors and Tier 1 suppliers. The company joins an Ajax portfolio that includes Louisville, Kentucky-based Whelan Machine.
Ajax Defense is a veteran-owned, Louisville-based holding company that acquires and invests in U.S. aerospace and defense small businesses, with a focus on strengthening critical supply chains and supporting the modernization of the defense industrial base.
PLG handled all legal aspects of the transaction, including M&A, corporate, regulatory, real estate, and government contracting matters. The PLG team was led by David Dargatis, with Laurent Campo advising on M&A and general corporate matters and leading the closing, Senwan Akhtar advising on real estate matters and supporting the overall transaction, and Mike Mendelson advising on ITAR and other government contracting considerations.
David Dargatis shared “it is a privilege to support Patrick Malcor and Ajax Defense’s mission to rebuild the defense industrial base and strengthen critical supply chains and am honored to see the transaction recognized among the year’s top industrials deals.”
Calder Capital served as exclusive buy-side M&A advisor to Ajax Defense on the transaction. Read Calder’s announcement of the recognition here, and PLG’s original announcement of the deal here.
