Defense Industry M&A: 2025

Karman Space & Defense buys Seemann Composites and Materials Sciences

Backed by Trive Capital

Advanced composite and materials solutions for naval programs.

T3 Defense buys Tiltan Software Engineering

Seller: Arie Shafir

Israeli AI software company specializing in defense and aerospace applications including GPS-denied navigation, 3D mapping, simulation systems and AI training platforms

TransDigm Group's deal for Stellant Systems is called off

Seller: Arlington Capital Partners

Designer and manufacturer of high-power electronic components and subsystems serving the aerospace and defense end market.

CACI International buys ARKA Group

Seller: Funds managed by Blackstone Tactical Opportunities

Space-based sensor portfolio and ground-based software processing for national security missions; electro-optical/infrared and hyperspectral imaging and agentic AI-based software

Comply365 agrees to buy MINT

Backed by Liberty Hall Capital Partners

a company focused on innovative training management for the aviation industry

Elbit Systems C4I and Cyber sell Robo-Team

Buyer: Undisclosed buyer

Robo-Team Holdings Ltd., held by Elbit Systems' C4I and Cyber business

AAR buys Aircraft Reconfig Technologies

Seller: ZIM Aircraft Cabin Solutions

An engineering company specializing in passenger aircraft reconfiguration for global airlines

Arcfield buys Rite-Solutions

Backed by Veritas Capital

Rhode Island-based software development, systems engineering and information technology provider with undersea warfare and naval systems expertise

EthosEnergy sells Ethos A&C to Wencor Group

Buyer: Wencor Group · Backed by One Equity Partners

EthosEnergy's aerospace and defense business, providing repair services to aerospace and defense customers

Department of War agrees to take a stake in Crucible JV, which holds 10.59% of Korea Zinc

A joint venture buying 10.59% of Korea Zinc, Korea's largest zinc smelter, to fund a U.S. zinc smelter

Safran sells Safran Passenger Innovations to Kingswood Capital Management, LP

Buyer: Kingswood Capital Management, LP

A global provider of in-flight entertainment and connectivity solutions for airlines and airplane manufacturers worldwide, renamed RAVE Aerospace at closing.

Jensen Hughes buys Safety Management Services

Backed by Gryphon Investors

An engineering firm specializing in process safety hazards analysis and energetic materials consulting and testing.

Washington Harbour Partners LP takes a stake in Trusted Space

Modeling, simulation and analysis solutions and custom software for data science, machine learning and autonomy across the modern space architecture

Precision Aviation Group buys H.E.R.O.S.

Backed by GenNx360 Capital Partners

Rolls-Royce M250/RR300 engine MRO provider based in Chandler, Arizona

Synergy ECP agrees to buy NetServices

Backed by Falfurrias Management Partners

A provider of secure, innovative technology solutions supporting mission-critical federal environments.

Woven Solutions agrees to buy Cystemic Security

Backed by Falfurrias Management Partners

Known for its delivery of cutting-edge cyber solutions to the intelligence community; blends managed attribution solutions with commercial partnerships to enable cyber forensics, vulnerability analysis, and attribution control.

Arcline Investment Management buys American Casting

Provider of highly engineered investment castings for aerospace, defense, medical, energy and specialty industrial applications.

Viasat sells Navarino UK to Sogra Bidco Limited, a subsidiary of ICG

Buyer: Sogra Bidco Limited, a subsidiary of ICG

An equity method investment held by Viasat; Viasat sold all of its interests.

Nuburu buys Lyocon

Seller: Paola Zanzola and Alessandro Sala

Italian laser-engineering and photonics company specializing in advanced laser sources, precision optical systems and customized laser platforms.

Ondas Holdings buys Roboteam

Seller: Robo-Team shareholders

Global provider of rugged tactical unmanned ground vehicles used for explosives ordnance disposal, intelligence, surveillance and reconnaissance, hazardous-environment missions and commercial applications.

Fairbanks Morse Defense agrees to buy Truflo Marine

Seller: IMI

IMI's Birmingham, UK-based business in valve design, engineering and manufacturing for naval submarine and surface vessels

Department of War agrees to take a stake in ReElement Technologies

Rare earth element refiner; part of a joint Office of Strategic Capital conditional loan commitment with Vulcan Elements

Department of War agrees to take a stake in Vulcan Elements

Neodymium Iron Boron (NdFeB) magnet maker with rare earth separation, metallization and magnet manufacturing plans in the United States

Voyager Technologies buys Estes Energetics

Designs and manufactures energetics and propulsion materials critical to U.S. defense and space systems

Ondas Holdings takes a stake in Performance Drone Works

Veteran-led defense-technology engineer and manufacturer of advanced robotics for mission-critical national security missions.

MP Materials and Department of War: joint venture Maaden rare earth refinery joint venture

A planned rare earth refinery in Saudi Arabia, with Maaden holding no less than 51%

Vigor Marine Group sells Vigor Marine Group Complex Fabrication division to Precision Build Integration

Buyer: Precision Build Integration · Backed by Lone Star Funds

Formerly known as Oregon Ironworks, the division has excelled in complex steel fabrication in the energy, infrastructure, transportation and defense sectors, with operations primarily based in Clackamas, Oregon.

Planet Labs buys Bedrock

Seller: Bedrock Research

A multi-modal geospatial artificial intelligence technology business, acquired with the expertise of its key employees.

Anduril Industries and EDGE Group: joint venture EDGE-Anduril Production Alliance

A jointly-owned production, sales and sustainment vehicle for next-generation autonomous systems in the UAE

Veritas Capital buys MetroStar

Backed by Blue Delta Capital Partners

AI-enabled digital transformation services and software provider serving the U.S. Defense and National Security communities

Arcline Investment Management buys Novaria Group

Seller: KKR

Provider of engineered aerospace components and specialty processes.

HEICO buys Axillon Fuel Containment

Seller: SK Capital Partners

Designs and manufactures advanced fuel containment solutions, primarily for military fixed- and rotary-wing aircraft.

BigBear.ai Holdings buys Ask Sage

A secure, multi-modal generative AI platform designed for government and enterprise use.

Diamond Antenna and Microwave buy Antenna Associates

Backed by Artemis Capital Partners

Massachusetts-based developer of Identification Friend or Foe (IFF) and secondary surveillance radar (SSR) antenna systems

Canopy Aerospace & Defense buys Tods Technology

Backed by Trive Capital

UK-based designer and manufacturer of advanced composite structures and acoustic materials.

TriMas sells TriMas Aerospace to PennAero

Buyer: PennAero · Backed by Tinicum

a provider of highly-engineered fasteners and precision-machined components for mission-critical applications across the global commercial aerospace and defense industries

Kaseware agrees to merge with OSINT Combine

Backed by Riverside

a pioneer in open-source intelligence (OSINT) software

Ondas Holdings buys Sentrycs

Seller: Sentry CS shareholders

Israel-based provider of Cyber-over-RF and Protocol-Manipulation counter-UAS technology.

Intuitive Machines buys Lanteris

Seller: Vantor Holdings

Formerly Maxar Space Systems, a spacecraft manufacturer serving national security, commercial and civil customers.

Kratos Defense & Security Solutions buys Orbit Technologies

A provider of mission-critical satellite-based communication systems for mobile and unmanned aerial, seaborne, undersea and land systems, military vehicles and other systems; headquartered in Israel.

AAR buys HAECO Americas

Seller: HAECO USA

Heavy aircraft MRO and modification services across hangars in Greensboro, North Carolina and Lake City, Florida

Nuburu takes a stake in Ambrogio D’Arrezzo's Tekne

Seller: Ambrogio D’Arrezzo

Italian company in which Nuburu took an initial 2.9% interest, alongside a Network Contract with Nuburu Defense and a EUR 13 million Shareholder Loan.

Blue Delta Capital Partners takes a stake in BTS Software Solutions

Veteran-owned provider of intelligence operations, counter-UAS, cybersecurity, and data science solutions to national security focused agencies

Ondas Holdings buys Insight Intelligent Sensors

Seller: Insight shareholders

AI-powered electro-optical sensing; Ondas acquired a 51% controlling interest.

Karman Space & Defense buys Five Axis Industries

Backed by Trive Capital

Business that expands Karman's capabilities in the commercial space industry.

VSE buys Aero 3

Seller: GenNx360 Capital Partners

Diversified global MRO service provider and distributor supporting the commercial wheel and brake aftermarket.

Voyager Technologies buys ExoTerra

Developer of electric propulsion systems

Ondas Holdings buys 4M Defense

Seller: Itzik Malka and Nir Cohen

Israeli smart demining company specializing in advanced demining capabilities, including robotic systems with terrestrial and subsurface AI-powered intelligence technologies.

H.I.G. Capital buys A.L.A.

Mission-critical logistics and distribution services to major Aerospace & Defense manufacturers; listed on the Italian stock exchange.

Anduril Industries buys American Infrared Solutions

A US-based company focused on the design and manufacture of high-performance cooled infrared cameras and components (AIRS)

Sigma Defense Systems buys Aries Defense

Backed by Sagewind Capital

A defense technology company founded in 2017 that specializes in tactical video and sensor integration, capturing and distributing UAV and unattended sensor data.

Trident Maritime Systems sells AGI to DC Capital Partners

Buyer: DC Capital Partners · Backed by J.F. Lehman & Company

Highly engineered electronic systems that support landing, navigation, communications and other mission-critical naval applications

Astronics buys Bühler Motor Aviation

an established manufacturer of aircraft seat actuation systems, located in Uhldingen-Mühlhofen, Germany

Systems Planning & Analysis buys Group W

Backed by Arlington Capital Partners

A data science and defense analytics company focused on modeling and simulation and wargaming

ADDMAN Engineering agrees to sell Domaille Engineering to Palm Peak Capital

Buyer: Palm Peak Capital · Backed by American Industrial Partners

Provider of equipment and related accessories used to manufacture pre-terminated fiber optic cables, previously a division of ADDMAN Engineering.

U.S. Department of War takes a stake in South32 Limited's Trilogy Metals

Seller: South32 Limited

Mineral exploration company with copper, cobalt and germanium projects in Northwest Alaska, held through a 50/50 joint venture (Ambler Metals LLC) with South32

Nuburu, Inc., through Nuburu Defense agrees to buy Orbit

Seller: Vanguard Holdings S.r.l.

Italian software company specializing in digitalizing operational resilience solutions for mission-critical corporations

Science Applications International buys SilverEdge

Seller: Godspeed Capital

An innovative provider of mission-driven technology solutions and products, with cybersecurity experts, software developers, engineers, and intelligence analysts

Firefly Aerospace buys SciTec

Seller: SciTec owners · Backed by AE Industrial Partners

Provider of advanced national security technologies including missile warning, tracking and defense, ISR, space domain awareness and autonomous command and control, based in Princeton, New Jersey

Parsons buys Applied Sciences Consulting

Florida-based engineering firm that specializes in water and stormwater solutions for cities, counties, and water management districts.

NewMarket buys Calca Solutions

Seller: AE Industrial Partners

Producer of UltraPure and high-purity hydrazine propellants, based in Lake Charles, Louisiana

Rocket Lab buys Mynaric

Seller: OC III LVS LIII LP and CO Finance II LVS I

Provider of laser optical communications terminals for air, space, and mobile applications, headquartered in Munich, Germany

AAR buys ADI American Distributors

A distributor of electronic components and assemblies to original equipment manufacturers across the aerospace and defense industry

Vitesse Systems, backed by Trive Capital buys Spacetime Engineering

Provider of high-performance antenna feeds for ground-based satellite and gateway antenna systems.

KBR agrees to sell Mission Technology Solutions to Trinzic

Buyer: Trinzic

KBR's Mission Technology Solutions business, a government services provider for national security and space, expected to operate as Trinzic

Voyager Technologies buys BridgeComm

Proprietary technology for optical communication solutions

GDIT sells GDIT background investigation assets to Xcelerate Solutions

Buyer: Xcelerate Solutions

Nukkleus buys Star 26

Seller: shareholders of Star 26

Holding company with interests in defense and technology businesses, including a 100% interest in B. Rimon Agencies Ltd., a supplier of generators, masts and lighting solutions for defense applications.

Fairbanks Morse Defense buys Vestdavit

Seller: Vestdavit's four owners

A supplier of davits and advanced handling systems based in Bergen, Norway

Funds managed by Carlyle buy Quantum Leap

A provider of cybersecurity and intelligence solutions for U.S. government customers, across the space, cyber, electromagnetic spectrum, and maritime domains.

Precise Systems buys Mission Focused Systems

Backed by Bluestone Investment Partners

a Royersford, Pennsylvania-headquartered provider of systems engineering, cybersecurity, and research, experimentation and prototyping solutions

Infleqtion goes public through Churchill Capital Corp X

Quantum computing and precision sensing company

Survitec sells Beaufort to Capitol Meridian Partners and Stellex Capital Management

Buyer: Capitol Meridian Partners and Stellex Capital Management

U.K.-based supplier of survival equipment for air, sea, and land forces

AEVEX buys RapidFlight

Seller: RapidFlight Holdings · Backed by Madison Dearborn Partners

A Manassas, Va.-based manufacturer of uncrewed aircraft systems (UAS); AEVEX acquired select assets and intellectual property

Trive Capital buys Canopy Aerospace & Defense

Newly formed advanced materials provider with insulative, absorptive and signal-reducing characteristics, combining Hera Technologies Inc. and MSM Industries Inc. with an R&D center.

Arclin buys Kevlar and Nomex

Seller: DuPont · Backed by TJC

DuPont's Aramids business, which includes the Kevlar and Nomex brands

Valkyrie Enterprises buys Optical Sciences

Backed by DC Capital Partners

Precision electro-optical and infrared (EO/IR) scene projector and test systems supporting missile defense, space sensor development, and advanced aviation applications

Saab AB sells TransponderTech to Teledyne Technologies

Buyer: Teledyne Technologies

Portfolio of connected commercial maritime products, including Automatic Identification System, VHF Data Exchange System and Global Navigation Satellite System technologies.

Ondas Holdings buys Smart Precision Optics

Seller: Shamir Investment Entrepreneurship ACS

Manufacturer of advanced precision optical components and systems based in Kibbutz Shamir, Israel; Ondas acquired a 51% controlling interest.

Ondas Holdings buys Apeiro Motion

Seller: Apeiro shareholders

Israeli-based developer of advanced ground robotics, fiber optic communications systems and mission-critical automation technologies.

Merlin goes public through Bleichroeder Acquisition Corp. I

Developer of assured, autonomous flight technology for defense customers

Coherent sells Attalon to Advent International

Buyer: Advent International

designs and manufactures optical and laser systems for defense applications

Falfurrias Management Partners agrees to buy Woven Solutions

A provider of technology and software solutions for the national security community.

Ondas Holdings takes a stake in Rift Dynamics

Norway-based defense technology company specializing in affordable, mass-producible combat drone systems.

V2X buys QinetiQ U.S. Intelligence business

Seller: QinetiQ

A provider of data engineering, intelligence mission support, and cyber solutions for the Intelligence Community

AAR buys Aerostrat

A long-range maintenance planning software provider used by airlines, MRO facilities, and cargo companies

Spirit AeroSystems sells Spirit AeroSystems Malaysia to Composites Technology Research Malaysia Sdn. Bhd.

Buyer: Composites Technology Research Malaysia Sdn. Bhd.

Spirit's facility and businesses in Subang, Malaysia, offering aerostructures assembly and services

Voyager Technologies buys ElectroMagnetic Systems

California-based developer of AI and machine learning-based automated target recognition software and intelligence analytics for space-based radar systems

Intuitive Machines buys KinetX

Seller: shareholders of KinetX

A privately-held, Arizona-based aerospace company delivering deep-space navigation, systems engineering, ground software and constellation mission design to the U.S. government and international customers.

National Presto Industries sells OneEvent refrigeration monitoring business

Buyer: Undisclosed buyer

OneEvent's refrigeration monitoring business; OneEvent uses a cloud-based learning and analytics engine with sensing devices to predict and alert; the company retained the OneEvent intellectual property

Loar Holdings buys Beadlight

Designs, develops and manufactures illumination solutions, air filtration systems and Human-Machine Interface products from its facility in Witney, England.

HEICO buys Gables Engineering

Designs and manufactures advanced solutions for aerospace platforms, including cockpit displays and other avionics components such as navigation, audio, surveillance, and communication panels.

J.F. Lehman & Company sells Narda-MITEQ to Amphenol

Buyer: Amphenol

Advanced radiofrequency and microwave components and subsystems for defense and commercial end markets

iRocket agrees to go public through BPGC Acquisition

Reusable space rocket developer

York Space Systems parent company buys ATLAS Space Operations

Backed by AE Industrial Partners

Provider of Ground Software as a Service for satellite communications, based in Traverse City, Michigan

PrecisionX Group buys Hudson Technologies

Backed by CORE Industrial Partners

a provider of specialty deep and shallow drawn stamping

CASE buys Ragnarok Technologies

Backed by AE Industrial Partners

Specialized IT services provider for federal and commercial clients, based in Reston, Virginia

Precision Aviation Group buys Turner Aviation

Backed by GenNx360 Capital Partners

Aviation MRO services provider in Glasgow, Scotland, repairing and overhauling avionics, components and fuel systems

Department of Defense takes a stake in MP Materials

Rare earth materials producer at Mountain Pass, California, building U.S. rare earth magnet manufacturing capacity

Applied Intuition buys Reblika generative AI technology

Seller: Reblika

Generative AI technology for creating fully configurable 3D digital humans, used to test autonomous systems in simulation.

SGS buys Applied Technical Services

Seller: Odyssey Investment Partners

provider of specialized Testing, Inspection, Calibration and Forensic Consulting solutions in North America

Teledyne Technologies buys Maretron

Seller: Littelfuse

Assets of Maretron, including the brand's Octoplex, MPower and MConnect product lines.

Parsons buys CTI

Seller: Bluestone Investment Partners

Maryland-based all-domain technology solutions provider.

Moog buys COTSWORKS

Designs and manufactures rugged optical components and subsystems for harsh environment applications, based in Ohio.

Astronics buys Envoy Aerospace

an FAA ODA services provider, located in Aurora, Illinois

Collins Aerospace sells Simmonds Precision Products to TransDigm Group

Buyer: TransDigm Group

Designs and manufactures fuel and proximity sensing and structural health monitoring solutions for the aerospace and defense end markets.

Raft buys N3bula Systems

Backed by Washington Harbour Partners

Colorado Springs team that engineered the connective tissue for modern joint operations across U.S. Navy, DARPA and U.S. Air Force programs

AE Industrial Partners buys Air Transport Components

Provider of aircraft component maintenance, repair, and overhaul services, based in Gilbert, Arizona and Tulsa, Oklahoma

Cobham Ultra Group sells Ultra PCS to Eaton

Buyer: Eaton · Backed by Advent International

produces electronic controls, sensing products, stores ejection and data processing solutions, enabling mission success for global aerospace customers in the air and on the ground

Unusual Machines buys Rotor Lab

Seller: Rotor Lab's existing shareholders

An Australian developer and manufacturer of electric motors and propulsion systems for unmanned aerial systems.

T3 Defense buys I.T.S. Industrial Tecno-logic Solutions and Positech

Seller: Gera Eron

Israeli company providing design, development, production and manufacturing of electro-mechanical machines and assembly lines; its subsidiary Positech Ltd. makes motion control systems for military and civilian use.

Cellebrite buys Corellium

A company focused on Arm-based virtualization software

Northrop Grumman takes a stake in Firefly Aerospace

End-to-end responsive space company with launch, lunar, and on-orbit services; Northrop Grumman's partner in the Eclipse medium launch vehicle.

Motorola Solutions buys Silvus Technologies

Seller: TJC

develops and manufactures mobile communications datalinks that facilitate data transmission without the need for fixed infrastructure

Karman Holdings buys Industrial Solid Propulsion

Backed by Trive Capital

Small-diameter solid propellant and energetic propulsion systems, with related real estate

Rocket Lab buys Geost

Seller: LightRidge Solutions Holdings LP

Developer of electro-optical and infrared (EO/IR) sensor systems for national security space missions

Leidos buys Kudu Dynamics

Artificial intelligence enabled cyber capabilities for defense, intelligence and homeland security customers

TransDigm Group buys Servotronics

Designs and manufactures servo controls and other advanced technology components for aerospace and defense applications.

KBR buys Infrastar

Jet Parts Engineering buys Percival Aviation

Backed by Vance Street Capital

Fareham, UK engineering, design and manufacturing operation for aircraft interiors components.

Jet Parts Engineering buys Cima Aviation

Backed by Vance Street Capital

MRO services provider specializing in fuel and hydraulic repairs.

Tyto Athene buys stackArmor

Backed by Arlington Capital Partners

Buyer now known as: Quantum Sky

A provider of FedRAMP, FISMA/RMF and CMMC/DFARS compliance acceleration, cloud and security automation solutions for government agencies and the industrial base

Anduril Industries agrees to buy Klas

A company focused on edge computing and tactical communications, best known for its Voyager line of rugged compute and networking systems

Voyager Technologies buys Optical Physics

Builds high precision optics, opto-mechanical assemblies and associated electronics, computer interfacing, signal acquisition and signal processing

VSE buys Turbine Weld Industries

Specialized Maintenance, Repair, and Overhaul service provider focused on complex engine components for business and general aviation platforms.

ATI sells Birmingham, UK and Dusseldorf, Germany operations

Buyer: Undisclosed buyer

Certain immaterial, non-core operations in Birmingham, UK and Dusseldorf, Germany, part of ATI's European business in the HPMC segment.

IonQ buys Capella Space

An American space tech company with synthetic aperture radar (SAR) and satellite solutions for government and commercial applications

Mercury Systems buys Star Lab

Seller: Wind River Systems

A subsidiary of Wind River Systems, Inc. that provides anti-tamper and cybersecurity software solutions designed to protect mission-critical processors from advanced attacks.

Ultra Intelligence & Communications buys Expeditionary Engineering

Backed by Advent International

a San Diego-based company focused on Software Programmable Open Systems Compliant (SPOC) 3U VPX technology for airborne, expeditionary, and remote Department of Defense operations

Textron sells Textron Powersports

Buyer: Undisclosed buyer

The Powersports business within Textron Specialized Vehicles, including the Arctic Cat brand and its operations

Lockheed Martin buys Rapid Solutions business of Amentum

Seller: Amentum Holdings · Backed by American Securities and Lindsay Goldberg

A manufacturer of products aligned to national security missions

Boeing sells Jeppesen, ForeFlight, AerData and OzRunways to Thoma Bravo

Buyer: Thoma Bravo

Portions of Boeing's Digital Aviation Solutions business, including its Jeppesen, ForeFlight, AerData and OzRunways assets

HEICO buys Rosen Aviation

Designs and manufactures in-flight entertainment products, principally in-cabin displays and control panels, for the business and aviation markets.

Saronic buys Gulf Craft shipyard

Seller: Gulf Craft

Louisiana-based shipyard with a 60-year history of developing manned and unmanned ships for defense and commercial customers

Shield AI buys Crowdbotics Data Driven Readiness

Seller: Crowdbotics

A software analytics tool that collects, processes and visualizes flight data to assess pilot proficiency for post-mission debriefs.

Science Applications International Corp. and Dobbs Defense Solutions: joint venture SACIRES

A new Mentor-Protégé Joint Venture between SAIC and Dobbs Defense Solutions under the U.S. Small Business Administration (SBA) Mentor-Protégé Program

Mercury Systems sells Mercury Systems manufacturing operations in Plan-Les-Ouates, Switzerland to Cicor Group

Buyer: Cicor Group

Mercury's manufacturing operations in Plan-Les-Ouates, Switzerland; Cicor now provides contract manufacturing to supply Mercury's international operations with electronic products over the next five years.

Kodiak goes public through Ares Acquisition Corporation II

Provider of AI-powered autonomous vehicle technology

Rolls-Royce sells Rolls-Royce's SMS business to Comply365

Buyer: Comply365 · Backed by Liberty Hall Capital Partners

a global provider of safety and compliance management systems

Latecoere sells MADES to Cicor Group

Buyer: Cicor Group · Backed by Searchlight Capital Partners

Electronics manufacturing services business in Malaga, Spain

Voyager Technologies agrees to buy LEOcloud

Provider of space-based cloud computing solutions

CACI International buys Identity E2E

Provides specialized technology services in biometrics and cloud engineering to customers within the United Kingdom

Karman Space & Defense buys Metal Technology

Seller: MTI Holdings · Backed by Trive Capital

Advanced materials business.

Leggett & Platt sells Aerospace Products Group to Affiliated funds managed by Tinicum

Buyer: Affiliated funds managed by Tinicum

a supplier of complex, highly engineered tube and duct assemblies for use primarily in commercial and military aircraft platforms and space launch vehicles

GD-OTS sells GD-OTS Garland Operations to REPKON USA

Buyer: REPKON USA

Cerberus Capital Management buys Votaw Precision Technologies

Specialty manufacturer of mission-critical hardware and components for launch and undersea vehicles, satellites, ground radar and other aerospace defense applications.

Systems Planning & Analysis buys Intrepid

Backed by Arlington Capital Partners

An engineering company with prime positions in the missiles and space, enterprise modernization, and aviation and mission support domains

Redhorse buys Mannakee Group

Backed by Blue Delta Capital Partners

Advanced software development and DevSecOps provider for government clients

J.F. Lehman & Company buys Wrist

Seller: Altor Equity Partners

Marine supply, logistics and budget management services for the maritime industry

Quantum Systems buys AirRobot

German maker of copter drones, based in Arnsberg, supplying the Bundeswehr under the MIKADO program

SightLine Applications buys Athena AI

Backed by Artemis Capital Partners

Australia-based specialist in AI-enabled computer vision and decision support for defense applications

Systems Planning & Analysis buys Proximity Advisory Services

Backed by Arlington Capital Partners

Oklo buys Atomic Alchemy

Radioisotope production business; Oklo describes Atomic Alchemy's expertise as radioisotope production.

Trive Capital buys Independent Forgings & Alloys

Sheffield, UK manufacturer of complex, multi-step forgings with a focus on advanced alloys.

Acorn Capital Management buys Pan Am Flight Academy

A Miami-based independent provider of flight simulator-based training, with a fleet of 25 owned full flight simulators and flight training devices, focused on commercial aircraft platforms.

Kratos Defense & Security Solutions, Inc. and RAFAEL Advanced Defense Systems: joint venture Prometheus Energetics

A new, approximately 50/50 joint venture to be a U.S.-based merchant supplier of solid rocket motors and other energetics, on a site near Crane, Indiana.

ATI sells Precision rolled strip operations in New Bedford, MA and Remscheid, Germany

Buyer: Undisclosed buyer

Precision rolled strip operations in New Bedford, MA (part of the Specialty-Rolled Products business in the AA&S segment) and Remscheid, Germany (part of ATI's European business in the HPMC segment).

Loar Holdings buys LMB Fans & Motors

Seller: Ace Aèro Partenaires, Ace LMB Fund, Amundi Private Equity Funds and others

Global specialty player in the design and production of tailor-made high-performance fans and motors.

VSE sells Wheeler Fleet Solutions to One Equity Partners

Buyer: One Equity Partners

VSE's Fleet segment, which sells aftermarket vehicle parts to government and commercial clients, sold with certain real estate.

SMX buys cBEYONData

Seller: Bluestone Investment Partners

a provider of implementation, design, and managed service capabilities, and of budget management and financial analytics solutions

Applied Intuition buys EpiSci

Innovator in AI and autonomy software for national security, known for work on autonomous fighter jets, drones and networked communications

Joint Research and Development buy Global Systems Technologies

Backed by Broadtree Partners

a provider of test and evaluation services, model-based systems engineering, logistics, and research and development to the Departments of Defense and Homeland Security customers

Capitol Meridian Partners buys LAUNCH

founder-led provider of technical workforce solutions and services to the aviation industry

Parsons buys TRS Group

Environmental solutions firm that specializes in remediation technology.

Albion River buys Arotech

Seller: Greenbriar Equity Group

A provider of high-fidelity training and simulation, advanced electronics manufacturing, and portable power systems for defense, law enforcement, and select commercial end-markets.

Thermal Group buys ACT Aerospace

Backed by Behrman Capital

Manufacturer of advanced composite structures for the aerospace and defense industry, headquartered in Gunnison, Utah

Warburg Pincus takes Triumph Group private

Backed by Warburg Pincus LLC and Berkshire Partners

A provider of mission-critical engineered systems and proprietary components for aerospace and defense companies across both OEM and aftermarket applications

HEICO buys Millennium International

An FAA and EASA-certified Part 145 Repair Station specializing in the repair and support of new generation and legacy avionics systems and components.

Unusual Machines' deal for Aloft is called off

A drone software company in the drone fleet and airspace management sector.

Northrop Grumman sells substantially all of Immersive Mission Solutions operating unit to Serco

Buyer: Serco

HEICO buys Honeywell Boeing 777 AIMS and 737NG/P-8/E-7 VIA product lines

Seller: Honeywell International

Exclusive perpetual license and key assets for the Boeing 777 AIMS (Airplane Information Management System) and Boeing 737NG/P-8/E-7 VIA (Versatile Integrated Avionics) product lines.

Kratos Defense & Security Solutions, Inc. and Kratos Microwave buy Norden Millimeter

Focuses on microwave and millimeter wave products; Kratos bought certain of its assets and assumed certain liabilities.

Olin buys AMMO, Inc. small caliber ammunition manufacturing assets

Seller: AMMO

AMMO's brass shellcase capabilities and a 185,000 square foot production facility in Manitowoc, Wisconsin

Redwire buys Edge Autonomy

Seller: Edge Autonomy Ultimate Holdings, LP · Backed by AE Industrial Partners

A provider of field-proven uncrewed airborne system (UAS) technology, including the Stalker and Penguin series

Micross Components buys Integra Technologies

Backed by Behrman Capital

Outsourced semiconductor assembly and test (OSAT) post-processing provider focused on high-reliability applications, headquartered in Wichita, Kansas

Anduril Industries buys Numerica radar and command-and-control businesses

Seller: Numerica

Radar and command-and-control businesses specializing in short-range air defense radars (Spyglass and Spark) and Mimir battlespace awareness software

BWX Technologies buys Kinectrics

A provider of lifecycle management services for the global nuclear power and transmission and distribution markets, and of isotope production for the radiopharmaceutical industry.