The Calian Group acquires a Quebec-based antenna techniques supplier for $ 22 million
After a busy 2020 with six companies acquired as part of their aggressive M&A strategy, Calian Group wasted no time in completing its first 2021 deal.
Kanata announced Monday that it had acquired antenna systems provider InterTronic Solutions in a cash transaction that could be worth up to $ 22 million if the Quebec-based company hits its profit targets.
Calian paid $ 13 million upfront for InterTronic, which employs around a dozen people and specializes in high-performance ground satellite technology for aerospace, defense, and satellite communications customers. His top-class customers include NASA, perhaps the largest fish in the aerospace pond.
“We’re starting the new year with a bang,” said Kevin Ford, CEO of Calian, on Monday. “It’s all part of the big plan. It really diversifies our customer base in North America. We love that. “
Ford said the deal brings a company with a proven track record of delivering cutting-edge satellite technology under the Calian umbrella, adding strength to the company’s technical bank while adding new products to its growing inventory.
Deep space radar technology
Calian already makes carbon fiber antennas, but the Quebec company makes larger systems that are used in applications like space radar, according to Ford.
“They hit way beyond their weight,” he said of InterTronic, which will be integrated into Calian’s Advanced Technologies division and will continue to operate in Vaudreuil-Dorion, west of Montreal.
“I am amazed at the size of the projects they are taking on. Now they have a public company valued at $ 400 million behind them so they can keep track of the bigger deals that were on their radar. “
After achieving record sales of $ 432 million in fiscal 2020, Calian is pursuing Ford’s stated goal of double-digit growth again this year.
The InterTronic deal is another piece of the puzzle as the company, which offers a wide range of services including operating medical clinics and conducting military training drills, as well as IT consulting, mobile wireless products, and other technologies, chases its sales target between $ 450 million and $ 490 million for fiscal 2021.
“Hopefully we can keep doing what we did,” said Ford.