Houlihan Lokey Advises Rocky Research

Houlihan Lokey is pleased to announce that Rocky Research has been acquired by Honeywell International Inc. (NYSE:HON). The transaction closed on October 7, 2020.

Rocky Research is a Boulder City, Nevada–based technology leader specializing in thermal, energy, and power management solutions. The company has won several major contracts supporting various U.S. Department of Defense projects, including providing power and thermal management systems to one of the U.S. Army’s highest priority programs. Beyond defense applications, Rocky Research also addresses emerging Homeland Security needs, including the protection of critical infrastructure like airports, power plants, and stadiums.

Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services, control technologies for buildings and industry, and performance materials globally. Honeywell’s technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.

Houlihan Lokey served as the exclusive financial advisor to Rocky Research and assisted in structuring and negotiating the transaction on its behalf. Alston & Bird LLP served as legal counsel to Rocky Research.

Houlihan Lokey's Aerospace, Defense & Government (ADG) practice within the global Industrials Group is a leading M&A advisor to aerospace, defense, and government services companies in the United States. Since 2016, the practice has closed more than 85 transactions worth more than $15 billion in enterprise value. With a staff of approximately 30 investment bankers in Washington, D.C., Chicago, Los Angeles, and Europe, Houlihan Lokey's ADG practice is among the largest dedicated industry banking teams worldwide. In 2019, the Industrials Group was once again ranked as the No. 1 M&A advisor for all U.S. industrial transactions according to Refinitiv (formerly known as Thomson Reuters).