Houlihan Lokey Advises AirBoss of America

Houlihan Lokey is pleased to announce the formation of AirBoss Defense Group through the merger with Critical Solutions International, Inc. (CSI). The transaction closed on January 1, 2020.

AirBoss Defense Group, the defense business of AirBoss of America Corp. (TSX:BOS) along with operations in Acton Vale, Quebec, is the market-leading provider of mission-critical, life-saving chemical, biological, radiological, and nuclear (CBRN) defense, and toxic industrial chemical (TIC) personal protective equipment (PPE). The company plays a critical role in the protection and survivability of global warfighters and law enforcement officers through a diversified portfolio of PPE, including protective overboots, gloves, respiratory systems, shelter systems, isolation chambers, filter cartridges, and extreme weather protection. AirBoss Defense Group’s products are highly consumable in nature and required for both CBRN warfare and training scenarios, resulting in significant built-in organic growth at high replacement rates. The company is headquartered in Landover, Maryland, with operations in Acton Vale, Quebec.

CSI, headquartered in Charleston, South Carolina, is the global leader in the development, systems integration, and support of route clearance vehicles and service member survivability systems. An essential supplier to the U.S. and international defense and security services, CSI’s products lead the way in the safe detection, identification, and mitigation of hidden threats.

AirBoss of America contributed the shares of AirBoss Engineered Products Inc. and the membership interests of Immediate Response Technologies, LLC, to the newly formed Canadian and U.S. entities to form AirBoss Defense Group. Critical Solutions Holdings Inc. (CSH) contributed all of the shares of CSI to the newly formed business. AirBoss of America's contribution is valued at US$100 million and CSH's contribution is valued at US$32.7 million. In the consideration, AirBoss of America received 55% of the equity in AirBoss Defense Group and US$60 million and CSH received 45% of the equity interest in AirBoss Defense Group.

Houlihan Lokey served as the exclusive financial advisor to AirBoss of America and led the structuring and negotiation of the transaction. This transaction underscores Houlihan Lokey’s long-standing reputation as the leader in defense and tactical equipment advisory and credentials as a premier advisor to the aerospace and defense sector.


You are about to leave
Houlihan Lokey's website

The link below leads to a website that is not
owned by Houlihan Lokey.

Continue to the external website,
close the window to remain on HL.com