Sale to QinetiQ Group plc

Technology & Services
Sale to QinetiQ Group plc

Summary

Baird served as exclusive financial advisor to MTEQ on this transaction

About

Manufacturing Techniques, Inc. (“MTEQ” or the “Company”) has agreed to be acquired by a subsidiary of QinetiQ Group plc (“QinetiQ”). The transaction is subject to various regulatory approvals and customary closing conditions.

MTEQ is a leading provider of advanced sensing solutions with a strong reputation for mission-led innovation, rapidly developing and fielding operationally relevant solutions to deliver information advantage to the warfighter. The Company offers full lifecycle capabilities, from research and development, requirements analysis, design, engineering, integration, prototyping, production, and testing all the way through field support and training. With over 60,000 square feet of state-of-the-art space across two sites, the Company’s facilities include electronic fabrication, precision machining, systems integration and production functions with full quality assurance and testing capability as well as laboratory space for optics, electronic engineering, mechanical engineering, and software development. MTEQ is headquartered in Lorton, Virginia.

QinetiQ’s acquisition of MTEQ illustrates the following themes in Government & Defense M&A: demand for focused and distinguished capabilities in the growing C5ISR market, prioritization of alignment with future Army modernization priorities and interest in delivery of differentiated and innovative proprietary solutions.

QinetiQ is a leading science and engineering company operating primarily in the defense, security and aerospace markets. QinetiQ deploys its scientific and technological knowledge, proven research capabilities and unique, purpose-built facilities to provide both services and products that meet the needs of a wide range of global customers. QinetiQ’s customers are predominantly government organizations, including defense departments, as well as international customers in other targeted sectors. QinetiQ is headquartered in Farnborough, the United Kingdom.
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Technology & Services
Sale to QinetiQ Group plc
Date
October 2019
Company
Manufacturing Techniques, Inc.
Transaction
M&A
Sectors
Technology & Services
Target Location
North America
Acquiror Location
Europe

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