Signia Aerospace, a portfolio company of Arcline Investment Management, has acquired Lifesaving Systems, a supplier of helicopter and maritime rescue and survival equipment.
Lifesaving Systems’ products include rescue hooks and personnel harnesses, US Coast Guard-approved life jackets, titanium ladders and rescue litters, strobe lights used to signal for help, and rescue strops that are used in rescue and emergency situations to lift, support, or transport people or objects.
Customers of Lifesaving Systems include all branches of the US Military, foreign militaries, police and fire departments, and civilian helicopter operators and rescue agencies. Lifesaving Systems, founded in 1980 by Sam Maness, operates from a 30,000-square-foot facility near Tampa in Apollo Beach, Florida.
Arcline formed Signia Aerospace in July 2022 to consolidate its investments in Onboard Systems International, a Washington-based provider of cargo handling equipment for civil and military helicopters (acquired from Liberty Hall Capital Partners in October 2021); Air Comm Corporation, a Colorado-based manufacturer of environmental control systems and thermal management systems used in the aerospace and defense industry (July 2021); and Enviro Systems, an Oklahoma-based maker of environmental control systems used in aviation applications (acquired from Safran S.A. in November 2021).
Simultaneous with the formation of Signia Aerospace, the company acquired International Mezzo Technologies, a Baton Rouge-headquartered designer and manufacturer of microtube heat exchangers used in thermal management applications in the defense, aerospace, commercial, space, and racing end markets.
Today, the operations of Signia are organized into two business units: Thermal Management and Mission Systems. The Thermal Management unit designs, manufactures, and services environmental control systems and microtube heat exchangers. The Mission Systems unit has more than 5,000 SKUs of cargo hooks, human external cargo (HEC) systems, weighing systems, and remote equipment products sold under the Onboard Systems brand.
Lifesaving Systems now becomes part of the Mission Systems unit, and it will continue to be led by its General Manager Mario Vittone.
“Every hour of every day, something built at Lifesaving Systems is on or over the waters of the world, being used to save lives,” said Mr. Vittone. “We know the importance of what we are making; we know how and where it will be used — and we know that it absolutely cannot fail when it’s needed. The entire team at Lifesaving Systems is looking forward to the progress and passion that Signia Aerospace will bring to our mission as we continue to save lives, one product at a time.”
“Lifesaving Systems is a leader in maritime rescue equipment and will be an excellent addition to our Signia Mission Systems business segment alongside Onboard Systems,” said Norman Jordan, the chief executive officer of Signia Aerospace. “Together, our products will continue to play a significant role in rescue and disaster relief operations worldwide.”
Arcline makes control investments in companies that have from $10 million to $100 million of EBITDA and enterprise values of up to $1 billion. Sectors of interest include defense and aerospace; infrastructure services; industrial and medical technology; life sciences and specialty materials. Arcline was founded in September 2018 and has offices in San Francisco and New York.
© 2023 Private Equity Professional | March 16, 2023
