FOCUS Government, Aerospace, and Defense Quarterly

Download the Government, Aerospace and Defense Group’s Spring 2019 Report

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Report cover: FOCUS Government, Aerospace and Defense Group's Summer 2019 ReportThe latest issue of the FOCUS Government, Aerospace, and Defense Group Report — highlighting aerospace and defense — is now available. The new GAD Report includes:

  • Major Q2 2019 Deals in the GAD Sector
  • Performance: S&P 500 vs. GAD
  • GOVERNMENT Sector Q2 2019
  • AEROSPACE Sector Q2 2019
  • DEFENSE Sector Q2 2019
  • Selected GAD Transactions Q2 2019
  • M&A Activity in the GAD Sector
  • Recent FOCUS GAD Transactions

FOCUS Investment Banking Represents Herb’s Paint & Body in its Sale to Caliber Collision

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Washington, DC, (August 2, 2019) – FOCUS Investment Banking, a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, with a specialty in the automotive services sector, announced today that Herb’s Paint & Body of Dallas, TX has been acquired by Caliber Collision. FOCUS represented Herb’s Paint & Body in …

FOCUS Healthcare and Life Sciences Report

Download the FOCUS Healthcare and Life Sciences Report: Summer 2019

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Featured in this Issue

The Instant, Custom, Connected Future of Medical Devices

By Janet Morrissey, The New York Times*

3D-printed and “smart” pharmaceuticals are making medical treatments more effective. But it may take years before the new devices reach most patients, if they do at all.

Also in this Issue

  • Performance: S&P 500 vs. Public
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U.S. Communications Service Provider Quarterly

Download the FOCUS U.S. Communications Service Provider Quarterly: Summer 2019 Report

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In public markets, the FOCUS Communications Service Provider Index (CSPI) enjoyed a second straight reporting period with a positive return as the index gained 3.7% in the past three months. This gain exactly split the difference between the 3.8% gain in the S&P 500 and the 3.6% gain in the NASDAQ over the corresponding time period. For the full year, the CSPI is up 13.4%, a gain which significantly outperformed the annual gains of 8.2% and 6.6% in the S&P 500 and the NASDAQ, respectively. Sector multiples also closed out the period higher than they were at this same time last year. The sector revenue multiple now stands at 2.7x (up from 2.4x a year ago) while the sector EBITDA multiple climbed to 8.0x (up from 7.4x a year ago).
Telecom Business Services Quarterly

Download the FOCUS Telecom Business Services Quarterly: Summer 2019 Report

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In public markets, the FOCUS Telecom Business Services Index (TBSI) enjoyed a second straight reporting period in the black as it turned in a solid three-month gain of 4.0%. This increase was strong enough to outperform the gains in both the S&P 500 (up 3.8%) and the NASDAQ (up 3.6%) over the corresponding time period. The TBSI also outpaced the broader indices over the past year. The sector is up 14.6% over the past 12 months, handily besting both the 8.2% gain in the S&P 500 and the 6.6% gain in the NASDAQ. Sector multiple performance was mixed over the past year. The sector revenue multiple inched up from 0.4x a year ago to 0.5x currently. However, the sector EBITDA multiple declined from 9.7x to 9.4x over the same time frame.

The Endless Summer of M&A?

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Over fifty years ago in the late 1960’s filmmaker Bruce Brown gave us his cult classic surfer documentary The Endless Summer. The film chronicles the journey of two young professional surfers who circumnavigate the globe chasing summer through both the northern and southern hemispheres in search of the elusive “perfect wave.”

As we enter the summer of 2019, the comparison to the M&A market today seems appropriate. Are we in the “endless summer” of super charged M&A activity and valuations? We have been experiencing an almost unseen level of M&A activity over the past four years and one can’t help but ask….when (not if) will it end?

FOCUS Investment Banking Announces Bob Maiden Joins FOCUS as a Managing Director and Adds Human Capital Management as an Industry Specialty

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Washington, DC, (July 2, 2019) – FOCUS Investment Banking, a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that Bob Maiden will join the firm as a Managing Director and the Human Capital Management Team Leader, adding this sector to the firm’s list of key vertical specialties that now include Advanced Manufacturing, Automotive, Capital Financing, Energy, Government/Aerospace/Defense, Healthcare, Human Capital Management, Technology and Telecom.

Download the FOCUS Carrier-Focused Telecom Technology Quarterly: Summer 2019 Report

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In public markets, after a string of positive returns, the FOCUS Carrier-Focused Telecom Technology Index (CFTTI) reversed course and suffered a modest loss of 2.7% over this past three months. This underperformed both the S&P 500 and NASDAQ, which suffered losses over this time frame of 1.2% and 1.1%, respectively. Even with this period’s decline, the CFTTI still handily outperforms the indices over the 12-month time frame. The CFTTI is up 15.3% in the past year, while the S&P 500 is up 1.7% and the NASDAQ eked out only a 0.2% gain. The sector revenue multiple is up strongly over the past year, increasing from 2.0x to 2.5x. The sector EBITDA multiple also increased, but much more modestly from 12.9x to 14.1x. This indicates that overall sector EBITDA margins improved.

FOCUS Investment Banking Represents HL Precision Manufacturing in its Combination with Hi-Grade Welding to form H3 Manufacturing Group

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HL Precision Manufacturing, Inc. has merged with Hi-Grade Welding & Manufacturing, LLC to form H3 Manufacturing Group, LLC. Financing was provided by CFB and Aldine. FOCUS Investment Banking, a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that HL Precision Manufacturing, Inc. (HL) with facilities in Champaign and Fisher, Illinois, and Hi-Grade Welding & Mfg, LLC (Hi-Grade) based in Schaumburg, Illinois, have combined by creating a common parent company to be known as H3 Manufacturing Group, LLC.