Haynes Boone represented Micropac Industries, a designer and manufacturer of components for military, aerospace and commercial applications, in its take-private sale to Teledyne Technologies.
Under the terms of the agreement, Teledyne will acquire all outstanding shares of Micropac in an all-cash transaction for a total enterprise value of approximately $57.3 million, including Micropac’s net debt. Holders of shares of Micropac common stock will receive $20.00 per share. The transaction is expected to close by the end of calendar year 2024, subject to customary closing conditions.
M&A partners Tom Harris and Dan Malone led the deal team with support from associates Joshua Reisman, Ryan Ward and Ethan Moore. The cross-practice team also included:
- Partners Susan Wetzel and Scott Thompson, along with associate Isabella Blanes (employee benefits and compensation)
- Partner Raquel Alvarenga (labor and employment)
- Partner Don Shiman and Counsel Danielle Marr (tax)
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“This merger marks an exciting new chapter for Micropac,” Malone said. “This merger brings together Micropac’s industry-leading technical capabilities with Teledyne’s expansive resources, and we’re proud to play a part in realizing the shared potential for both companies.”
