Deal Details

TSC Is Acquired by Blackstone to Form New Falcata Platform

Industrial

TSC acquisition by Blackstone

Summary

Technology Service Corporation (“TSC" or the “Company”) has announced its acquisition by funds managed by Blackstone, Inc. (“Blackstone”) (NYSE: BX). The acquisition was part of a strategic investment to launch Blackstone’s new Falcata platform, formed through the combination of TSC and Applied Systems Engineering, Inc. (“ASEI”). Terms of the transaction were not disclosed.

Baird served as exclusive financial advisor to TSC on this transaction.

About

TSC is a leading defense technology company and merchant supplier of advanced sensors for critical weapon systems. Leveraging decades of advanced engineering and mission expertise, the Company bridges cutting-edge technology with high-volume manufacturing through its end-to-end innovation engine. TSC has an extensive track record of serving as a trusted mission partner to the nation’s most demanding national security customers. The Company’s portfolio is aligned with the Department of War’s highest priorities. TSC is headquartered in Arlington, Virginia.

Blackstone’s acquisition of TSC underscores several themes in Defense, Space & Government M&A: (1) rapid innovation and deployment of asymmetric capabilities to counter rising geopolitical threats; (2) shifting the arsenal mix towards attritable capacity to align cost-per-effect parity to adversary systems; and (3) focus on companies able to deliver scaled manufacturing capabilities to address urgent mission needs. The formation of Falcata brings together complementary technologies across the interceptor guidance chain to strengthen America’s industrial capacity and help meet the growing demand for cost-effective national security missions.

Founded in 1985, Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Blackstone is headquartered in New York, New York.

Industrial

TSC acquisition by Blackstone