Defense Industry M&A: 2022

L3Harris sells Visual Information Solutions commercial geospatial software to NV5 Global

Buyer: NV5 Global

L3Harris Technologies buys Aerojet Rocketdyne

Seller: Aerojet Rocketdyne public shareholders

Develops and manufactures liquid and solid rocket propulsion, air-breathing hypersonic engines, and electric power and propulsion for space, defense, civil and commercial applications

Advent International takes Maxar Technologies private

provider of comprehensive space solutions and secure, precise, geospatial intelligence

Forged Solutions Group buys Continental Forge

Backed by Arlington Capital Partners

A provider of precision near-net shape forged and machined solutions to the military and commercial aerospace industries

Greenbriar Equity Group buys Applied Aerospace Structures

A provider of design, fabrication, and testing solutions for complex composite and metal bonded structural assemblies.

Arlington Capital Partners sells Octo to IBM

Buyer: IBM

A pure-play digital modernization solutions provider to the federal government

Bernhard Capital Partners buys SE&C

a provider of executive, project management, business development and technical consulting services focused on the DOE complex

Bernhard Capital Partners buys Boston Government Services

an engineering, technology and security firm for government programs, national laboratories, national security facilities, nuclear operations and complex projects

Booz Allen Hamilton Holding sells Managed Threat Services business to Security On-Demand

Buyer: Security On-Demand

Booz Allen's commercial Managed Threat Services (MTS) business, divested as its contracts, associated assets and liabilities, and workforce.

Jet Parts Engineering buys Northeast Aero Compressor

Backed by Vance Street Capital

Aerospace component repair business focused on complex pneumatic, hydraulic and electro-mechanical parts in commercial and cargo aircraft.

Trive Capital buys Forward Slope

Independent provider of mission-critical software and surveillance solutions for the defense industry.

Clayton, Dubilier & Rice and Greenbriar Equity Group merge with Whitcraft Group

A manufacturer of precision formed, machined, and fabricated flight-critical aerospace components.

Carlyle sells Paradigm Precision to Clayton, Dubilier & Rice funds and Greenbriar Equity Group funds

Buyer: Clayton, Dubilier & Rice funds and Greenbriar Equity Group funds

A global independent provider of complex machining, fabrications and assemblies for engine manufacturers, to be combined with Whitcraft Group.

Highlander Partners buys Liteye Systems

Develops, integrates and manufactures Counter Unmanned Aircraft Systems (C-UAS) designed to neutralize hostile drone threats.

Spirit AeroSystems Textiles buys T.E.A.M.

Rhode Island corporation that manufactures and engineers textiles, composites, and textile and composite products

Cycurion goes public through Western Acquisition Ventures

Tech-enabled cybersecurity solutions provider

Red Cat Holdings sells Rotor Riot and Fat Shark to Unusual Machines

Buyer: Unusual Machines

Red Cat's consumer business: recreational and hobbyist drones, first-person-view goggles, and a licensed authorized reseller.

Forged Solutions Group buys Steel Industries

Backed by Arlington Capital Partners

A vertically integrated manufacturer of open die forgings and seamless rolled rings for aerospace and defense, space, and industrial markets

Momentum Manufacturing Group buys Little Enterprises

Backed by One Equity Partners

Precision machining services provider for critical components in the semiconductor, aerospace and defense, and medical end markets.

Curtiss-Wright buys Keronite

A provider of Plasma Electrolytic Oxidation surface treatment applications.

Infinite Electronics buys Cable Connectivity Group

Seller: Torqx Capital Partners and TKH Group NV · Backed by Warburg Pincus

Production, distribution and assembly of specialty cables and cable connectivity solutions

Palantir Technologies buys Palantir Japan

A Japanese company created to distribute Palantir platforms to the Japanese market

Bollinger Shipyards buys VT Halter Marine and ST Engineering Halter Marine Offshore

Seller: ST Engineering North America

Pascagoula, Mississippi shipyards that design, engineer, build and repair vessels for government and commercial customers, renamed Bollinger Mississippi Shipbuilding and Bollinger Mississippi Repair

Qnnect buys Hermetic Solutions Group

Backed by Arcline Investment Management

Designs and manufactures hermetic packages and specialty interconnect solutions; its brands are Cristek Interconnects, FilConn, Hi-Rel Group, Litron, PA&E, Sinclair and Zet-Tek Manufacturing.

Breeze Holdings Acquisition's deal for TV Ammo is called off

Advanced technology manufacturing company focused on revolutionizing the ammunition industry through composite materials

Breeze Holdings Acquisition's deal for True Velocity is called off

Advanced technology manufacturing company developing and producing ammunition using composite materials

Maxar Technologies buys Wovenware

a privately held artificial intelligence and software development technology consulting firm

BCC Redwire Aggregator, LP takes a stake in Redwire

A space infrastructure company that issued Series A Convertible Preferred Stock to Bain Capital and AE Industrial Partners.

FireTeam Solutions merges with Case Consulting

Backed by AE Industrial Partners

Software development and engineering services provider to the U.S. Intelligence Community, based in Leesburg, Virginia

Teledyne Technologies buys ETM-Electromatic

Designs and manufactures high-power microwave and high-energy X-ray subsystems for cancer radiotherapy, defense and X-ray security applications.

National Presto Industries buys Woodlawn Manufacturing

High volume manufacturer of precision metal parts and assemblies primarily for the defense and aerospace industry, in Marshall, Texas

Airobotics buys Iron Drone

Israeli-based company specializing in the development of autonomous counter-drone systems.

Artemis Capital Partners buys McDanel Advanced Ceramic Technologies

Manufacturer of high-performance advanced tubular ceramics and components

CAES sells Frontgrade Technologies to Veritas Capital

Buyer: Veritas Capital

High-reliability, radiation-hardened electronic solutions for space, defense, healthcare and industrial applications

AE Industrial Partners buys York Space Systems

Independent provider of small satellites, satellite components and turnkey mission operations, based in Denver

Redwire buys QinetiQ Space NV

Seller: QinetiQ Group

A Belgium-based commercial space business providing design and integration of critical space infrastructure and other instruments for end-to-end space missions

HEICO buys TRAD

Specializes in radiation engineering, including test and simulation of radiation effects on electronic components and materials.

L3Harris buys Viasat Tactical Data Links product line

Seller: Viasat

Viasat's Link-16 Tactical Data Links business, part of its defense and advanced technologies segment.

Cadrex Manufacturing Solutions buys IDL Precision Machining

Backed by CORE Industrial Partners

an engineering-focused manufacturer of highly complex precision components and assemblies primarily for the aerospace & defense end market

Intuitive Machines goes public through Inflection Point Acquisition

A space company offering lunar transport, landing and data relay services; the combined company took the name Intuitive Machines, Inc.

Veritas Capital buys Chromalloy

Seller: Carlyle

Aftermarket repairs and engine and turbine component solutions for aircraft engines and gas turbines

Belcan buys RTM Consulting

Backed by AE Industrial Partners

Provider of digital resource management, business optimization, digital transformation and professional education consulting to service businesses, based in Cincinnati, Ohio

Systems Planning & Analysis buys ORCA unit of Metron

Seller: Metron · Backed by Arlington Capital Partners

Metron's Operations Research & Cyber Analysis division, specializing in operations research, systems of systems engineering, model-based system engineering, and digital engineering

HEICO buys Ironwood Electronics

Designs and manufactures high performance test sockets and adapters for engineering and production use of semiconductor devices.

Precision Aviation Group buys PTB Group

Backed by GenNx360 Capital Partners

MRO services on Pratt & Whitney PT6 and Honeywell TPE331 engines, engine and airframe leasing, and aviation supply chain services; listed on the Australian Securities Exchange

Behrman Capital buys George Industries

Designer and manufacturer of highly engineered components, including thermal management products for electronic systems

AeroVironment buys Planck Aerosystems

San Diego provider of advanced unmanned aircraft navigation solutions, including autonomous takeoff and landing from moving platforms. Certain assets and liabilities were purchased.

HEICO buys Sensor Systems

Designs and manufactures airborne antennas for commercial and military applications.

HEICO buys Charter Engineering

Designs and manufactures a complete line of RF and Microwave coaxial switches.

Collins Aerospace sells Collins Aerospace Critical Infrastructure business to Mirion Technologies

Buyer: Mirion Technologies

Edge Autonomy buys Adaptive Energy

Backed by AE Industrial Partners

Designer and manufacturer of solid oxide fuel cells for backup, off grid and UAV power

Apollo-led group takes Atlas Air Worldwide private

Seller: Atlas Air Worldwide shareholders

a global provider of outsourced aircraft and aviation operating services

Ondas Holdings merges with Airobotics

Seller: Airobotics shareholders

An Israeli developer of autonomous unmanned aircraft systems and automated data analysis and visualization platforms; Tel Aviv Stock Exchange listed.

Trive Capital sells WDC Acquisition

Buyer: Undisclosed buyer

Maker of premium grade aluminum and magnesium sand castings, mainly for aerospace applications.

National Presto Industries buys Knox Safety

Startup that designed and sold carbon monoxide detectors for residential use; the acquiring entity became Rely Innovations, Inc.

Leidos buys Cobham Special Mission

Seller: Advent International

Airborne border surveillance and search and rescue services to the Australian Federal Government

HEICO buys Exxelia

Seller: an affiliate of IK Partners and additional sellers

Designs, manufactures and sells high-reliability, complex, passive electronic components and rotary joint assemblies for mostly aerospace and defense applications.

Veritas Capital buys Epiq Solutions

Small form factor, SWaP-C optimized software defined radio and turnkey RF solutions for mission-critical military and commercial embedded computing applications

Arcline Investment Management buys Mezzo Technologies

Designer and manufacturer of proprietary, high-performance microtube heat exchangers used in mission-critical thermal management applications.

HEICO buys Accurate Metal Machining

A manufacturer of high-reliability components and assemblies.

Teledyne Technologies buys NL Acoustics

Designs and manufactures acoustics imaging instruments and predictive maintenance solutions.

Loar Group buys Schroth Safety Products

Designs and manufactures advanced occupant safety systems (seatbelts and airbags) for the aerospace, defense and high-performance consumer industries.

Sensata Technologies buys Dynapower

Seller: Pfingsten

Designs and manufactures energy storage and power conversion systems including inverters, converters, rectifiers and custom transformers

Declaration Partners, Capitol Meridian Partners, and 22C Capital buy LMI Consulting

Seller: LMI

for-profit subsidiary of LMI, a provider of technology-enabled management consulting, logistics and digital & analytics solutions to the U.S. government

CollabraLink buys Groundswell Consulting Group

Backed by Washington Harbour Partners

Provider of Appian development and integration services to US federal agencies

Arcline Investment Management buys Custom Interconnects

Designs and manufactures Fuzz Buttons, a high-performance proprietary contact pin technology.

By Light Professional IT Services buys Veraxx

Backed by Sagewind Capital

A provider of complex, high-fidelity aircraft modeling and simulation training technology solutions to the U.S. military.

Kaman sells Mexico operations

Buyer: Undisclosed buyer

Certain assets and liabilities of Kaman's Mexico operations in the Structures segment

General Dynamics Mission Systems buys Progeny Systems

Seller: undisclosed

One Equity Partners buys DESMI

Danish manufacturer of pumps, pumping systems, environmental cleaning equipment and related products and services.

RE3DTECH buys GoProto

Backed by CORE Industrial Partners

a provider of custom manufacturing services with a comprehensive suite of both additive and traditional manufacturing technologies

Kaman takes a stake in Near Earth Autonomy

Autonomy technology company; a partner on Kaman's autonomy technology since 2019, for the K-MAX TITAN and the KARGO UAV

Vitesse Systems, backed by Trive Capital buys Custom Microwave

Provider of high-performance passive antennas for critical space and ground applications.

Leonardo DRS merges with RADA

A provider of advanced software-defined military tactical radars.

Trident Maritime Systems sells Cannon Mining division to J.H. Fletcher &

Buyer: J.H. Fletcher & · Backed by J.F. Lehman & Company

Underground mining equipment, including drill jumbos, scalers and roof bolters

KBR buys VIMA Group

U.K.-based provider of digital transformation solutions to defense and other public sector clients

Kratos Defense & Security Solutions buys Florida Turbine Technologies

Seller: Holders of the minority interests in KTT Core

An additional 9.95 percent of the capital stock of KTT Core, a majority owned Kratos subsidiary that includes Florida Turbine Technologies, a turbomachinery design and manufacturing company.

Systima Technologies buys Cornerstone Research Group assets

Seller: Cornerstone Research Group · Backed by Trive Capital

Certain assets including equipment, inventory, and intellectual property

iNRCORE buys Vanguard Electronics

Backed by Jordan

a manufacturer of both catalogue and custom high reliability magnetics for the most demanding applications in the defense, aerospace, space and medical industries

Moog takes a stake in NOVI

Applies machine learning algorithms to space situational awareness.

Fairbanks Morse Defense buys Research Tool & Die

A privately owned manufacturer of marine electrical-systems hardware based in Carson, California

Iridium Communications takes a stake in Aireon

Operator of the world's only space-based Automatic Dependent Surveillance-Broadcast (ADS-B) air traffic surveillance system.

L3Harris sells CyTerra

Buyer: Undisclosed buyer

Parsons buys Xator

Seller: Xator Holdings

Provider of mission-focused solutions addressing critical infrastructure protection, national security, and mission training requirements for the U.S. Government around the world.

Kaman buys Aircraft Wheel & Brake

Seller: Parker-Hannifin

Parker-Hannifin's aircraft wheel and brake division in Avon, Ohio, which specializes in wheels, brakes and related hydraulic components for fixed-wing aircraft and rotorcraft

Valkyrie Enterprises merges with Hill Technical Solutions

Seller: DC Capital Partners

Systems engineering and integration, technology development and hypersonic design and testing solutions for U.S. Army, Missile Defense Agency and other DoD and Intelligence Community customers

Micross Components buys PAAL Technologies

Backed by Behrman Capital

Provider of MIL-STD-1553 Data Bus Couplers, Harnesses and RF/Wideband Transformers

DC Capital Partners buys Valkyrie Enterprises

Provider of advanced engineering, modeling and simulation, infrastructure sustainment, warfighter readiness, and training solutions; DC Capital portfolio company Hill Technical Solutions is to be merged with it

Moose Bidco takes ManTech private

A provider of innovative technologies and solutions for mission-critical national security programs.

StandardAero buys EB Airfoils

Backed by Carlyle

A provider of component repairs, specializing in aerospace engine fan blades, compressor blades and guide vanes.

ATI sells Sheffield, UK operations

Buyer: Undisclosed buyer

Facilities for melting and re-melting, machining and bar mill operations in Sheffield, UK, part of the Specialty Materials business in ATI's HPMC segment.

Communications & Power Industries Radant Technologies Division buys AdamWorks

Backed by Odyssey Investment Partners

design engineering and manufacturing company for composite structures, including pods, radomes and fairings for manned and unmanned systems for defense customers

Latécoère buys Avcorp

Backed by Searchlight Capital Partners

Canadian aerostructures supplier of wing sub-assemblies, large scale composite parts and after-market services

Semtech sells High-Reliability Discrete Diodes and Assemblies business of Semtech to Micross Components

Buyer: Micross Components · Backed by Behrman Capital

Semiconductor solutions including QPL and non-QPL diodes, rectifiers and transient voltage suppression products, headquartered in Reynosa, Mexico

Two Six Technologies buys Thresher Ventures

Backed by Carlyle Group

A software company with products that detect, analyze, and predict media manipulation by foreign governments.

G.S. Precision buys F.T. Gearing

Backed by AE Industrial Partners

Provider of highly engineered gears to the aerospace and defense industries

TJC, L.P., through an affiliate of The Resolute Fund V buys CPI

Seller: Odyssey Investment Partners

global manufacturer of electronic components and subsystems focused primarily on communications and defense industries

Arcline Investment Management buys Meritec

Designs and manufactures high-performance interconnect embedded systems and connectors.

Leonardo DRS sells Advanced Acoustic Concepts to Thales Defense & Security

Buyer: Thales Defense & Security

A joint venture that provides sonar systems and components, acoustic training systems, and other underwater systems.

TTM Technologies buys Telephonics

Seller: Griffon

Provider of intelligence, surveillance and communications solutions deployed across land, sea and air applications

Accurus Aerospace buys Ferra

Backed by Liberty Hall Capital Partners

acquired by Accurus Aerospace Corporation, a supplier of structural parts, complex assemblies and electromechanical subsystems to the aerospace industry

BWXT Government Group buys Dynamic Controls and Cunico

Suppliers of highly-engineered, proprietary valves, manifolds and fittings for naval nuclear and diesel-electric submarines, surface warfare ships and commercial shipping vessels.

BigBear.ai buys ProModel

Backed by AE Industrial Partners

a company focused on simulation-based predictive and prescriptive analytic software for process improvement

Applied Composites buys North Coast Composites and North Coast Tool & Mold

Seller: Unitech Holdings · Backed by AE Industrial Partners

Manufacturer of Resin Transfer Molded composite structures and tooling for aerospace, in Cleveland, Ohio

Two Six Technologies buys River Loop Security

Backed by Carlyle Group

A provider of technical expertise in cybersecurity and embedded systems.

Elbit Systems buys Opgal

Israeli affiliated company previously held 50% by Elbit Systems; Elbit bought the remaining 50%

Booz Allen Hamilton Holding sells Booz Allen MENA management consulting business to Oliver Wyman

Buyer: Oliver Wyman

Booz Allen's management consulting business serving the Middle East and North Africa region, divested as its contracts, associated assets and liabilities, and workforce.

cBEYONData buys Alta Via Consulting

Backed by Bluestone Investment Partners

a provider of ERP consulting services centered around improving clients' operations by maximizing value from existing business processes and information systems

AIRO Group Holdings buys Sky-Watch

Danish drone maker whose military drones are sold through the Sky-Watch brand

Sarcos Technology and Robotics buy RE2 Robotics

Pittsburgh-based developer of autonomous and teleoperated mobile robotic systems for the aviation, construction, defense, energy and medical industries

G.S. Precision buys SMC Aerospace

Backed by AE Industrial Partners

Provider of highly engineered tubes and machined components for the aerospace and defense industries

Leonardo DRS sells Global Enterprise Solutions to SES Government Solutions

Buyer: SES Government Solutions

Provides commercial satellite communications to the U.S. Government and delivers satellite communications and security solutions to customers worldwide

Textron buys Pipistrel

A company focused on electrically powered aircraft, based in Slovenia and Italy

Booz Allen Hamilton buys EverWatch

Seller: Enlightenment Capital

A provider of advanced solutions to the defense and intelligence communities.

TransDigm Group buys DART Aerospace

Seller: Greenbriar Equity Group, L.P. and First Aviation Services

Provides highly engineered, unique helicopter mission equipment solutions that predominantly service civilian aircraft.

HEICO buys Flight Microwave

Designer and manufacturer of custom high power filters and filter assemblies.

DC Capital Partners buys uAvionix

Small form factor communications, navigation and surveillance avionics for unmanned and manned aircraft

Kratos Defense & Security Solutions buys Southern Research Engineering Division

Seller: Southern Research Institute

Assists customers in the development, modeling, and deployment of advanced materials for extreme environments, and develops ISR sensors; became Kratos SRE, Inc.

CGI Automated Manufacturing buys DFF

Backed by CORE Industrial Partners

a precision manufacturer of precision machined components and electromechanical assembly products

Vectrus merges with Vertex

Seller: Vertex shareholders, majority owned by American Industrial Partners Capital Fund VI LP

The Vertex Company, which delivers integrated turnkey lifecycle support including aviation maintenance, contractor logistics support, systems engineering and integration, and training programs for defense and commercial customers

AeroVironment sells HAPSMobile to SoftBank

Buyer: SoftBank

Joint venture AeroVironment formed with SoftBank in December 2017 for solar high-altitude pseudo-satellite (Solar HAPS) aircraft.

AE Industrial Partners buys Firefly Aerospace

Seller: Noosphere Venture Partners LP

Maker of launch vehicles, spacecraft, and in-space services; AEI acquired a significant stake

Moog buys TEAM Accessories

Specializes in maintenance, repair and overhaul of engine and airframe components, based in Dublin, Ireland; rebranded Moog MRO Services as of July 1, 2023.

CGI Automated Manufacturing buys Haven Manufacturing

Backed by CORE Industrial Partners

a full-service contract manufacturer of highly engineered components, with a metrology division

Trive Capital buys Systems Innovation Engineering

Defense services firm providing systems engineering and design services for radar/RF, directed energy, counter-UAS systems and other emerging defense technologies.

L3Harris sells Space and Navigation business to EMCORE

Buyer: EMCORE

Castellum buys Lexington Solutions Group

a government contractor with a wide range of national security, strategic communication, and management consulting services

Kingswood Capital Management, LP takes a stake in Lind Marine

A diversified marine services business headquartered north of the San Francisco Bay, together with its affiliated equipment company and boat manufacturing business, Moose Boats.

HEICO buys Pioneer Industries

A specialty distributor of spares for military aviation, marine, and ground platforms.

Anduril Industries buys Dive Technologies

Boston-based developer of autonomous underwater vehicles, including the DIVE-LD

CGI Automated Manufacturing buys Richlind Metal Fabricators

Backed by CORE Industrial Partners

a provider of precision sheet metal fabrication and machining services

Triumph Group sells Triumph Stuart, Florida manufacturing operations

Buyer: Undisclosed buyer

Manufacturing operations located in Stuart, Florida, previously reported in Triumph's Aerospace Structures segment

ATI sells Pico Rivera, CA operations

Buyer: Undisclosed buyer

Small ATI operations in Pico Rivera, CA, sold as part of ATI's strategy to exit standard stainless products.

Curtiss-Wright sells Industrial valve business in Germany

Buyer: Undisclosed buyer

Curtiss-Wright's industrial valve business in Germany.

Curtiss-Wright buys Safran Aerosystems Arresting

Seller: Safran

A designer and manufacturer of aircraft emergency arresting systems.

Sigma Defense buys SOLUTE

Backed by Sagewind Capital

A technology and engineering firm that specializes in system modernization with a focus on software engineering, cyber security, cloud architectures, and DevSecOps for the U.S. Department of Defense.

Fairbanks Morse Defense buys Maxim Watermakers

A privately-owned provider of desalination and water treatment technologies for marine defense applications based in Shreveport, La.

Narda AcquisitionCo buys Intelligent RF Solutions

Backed by J.F. Lehman & Company

RF and microwave systems and subsystems for mission-critical military and intelligence community applications

CORE Industrial Partners buys RE3DTECH

a provider of additive manufacturing services with a focus on high-volume production parts (now Uptive)

Heston MRO's deal for Jet Aviation Cairns heavy MRO business is called off

Buyer: Heston MRO

Tyto Athene buys Qbase

Backed by Arlington Capital Partners

Buyer now known as: Quantum Sky

A pure-play provider of network modernization solutions and IT digital transformation services

Fairbanks Morse Defense buys Federal Equipment

Backed by Arcline Investment Management

Designs and manufactures mission-critical components and systems for the U.S. Navy and U.S. Coast Guard (FEC Military), and has a commercial handling business.

Triman Industries buys Crestwood Technology Group

Backed by AE Industrial Partners

Military aftermarket supply chain business combined with Triman and Brighton Cromwell

Triman Industries buys Brighton Cromwell

Backed by AE Industrial Partners

Military aftermarket supply chain business combined with Triman and Crestwood Technology Group

Washington Harbour Partners buys CollabraLink

Digital transformation services firm with customers throughout the federal sector

Intevac sells Intevac Photonics to EOTECH

Buyer: EOTECH

Developer and provider of advanced high-sensitivity digital sensors, cameras and systems, including digital night vision

Blue Delta Capital Partners takes a stake in Redhorse

Technology company delivering data science and digital transformation solutions for national security, intelligence community and federal civilian customers

ADDMAN Engineering buys Castheon

Backed by American Industrial Partners

Provider of additive manufacturing technologies for mission-critical space applications, with refractory metals expertise.