L Squared Capital Partners (“L Squared”) announced today that TransDigm Group Incorporated, a leading global producer, designer and supplier of engineered aerospace components, systems and subsystems, has entered into a definitive agreement to acquire Raptor Scientific, a global leader in complex test and measurement solutions for advanced Defense, Space, and Aerospace applications, for $655 million in cash. The transaction is subject to customary closing conditions and the receipt of regulatory approval.

Raptor Scientific was founded by L Squared with the thesis of investing in the attractive Aerospace and Defense (“A&D”) test & measurement market. Since 2019, Raptor Scientific has built out a suite of complementary capabilities leveraging advanced test and measurement technologies. Under L Squared’s ownership, Raptor Scientific grew revenue from ~$9 million to ~$90 million. This performance was driven by a world-class management team, recruited by L Squared, and through strategic investments in go-to-market, human capital, and product development.

“We are grateful to Derek Coppinger and the entire Raptor Scientific executive team for their leadership that drove this highly successful outcome,” said Sean Barrette, Chairman of the Board of Raptor Scientific and Partner at L Squared. “Raptor Scientific was founded with the mandate to accelerate the growth of advanced A&D test and measurement technologies that support national security assets. These unique capabilities protect our freedom in a variety of operational theaters. We believe that TransDigm is the ideal new partner for Derek and the Raptor Scientific team as they continue this important mission.”

“I greatly appreciate the support and resources the L Squared team have provided over the years as we built Raptor Scientific into a leading provider of complex test and measurement solutions supporting the Defense, Space, and Aerospace industries,” said Derek Coppinger, CEO of Raptor Scientific. “We are excited to begin our next chapter of growth with TransDigm, who is well positioned to provide us with the additional resources and scale necessary to accelerate our momentum and drive future success. The world-class and dedicated employees of Raptor Scientific deserve the highest recognition for building this superior organisation which supports our customers and warfighters every day. For that I am truly grateful.”