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Carlyle: Defense Investment History

19 defense buys: 8 by the firm and 11 add-ons by companies it backs. It sold 6 businesses in that time.

Carlyle and the companies it backs made the most defense buys in 2021: 7

Buys by the firm and add-ons by companies it backs, by year announced.

Bought by the firmAdd-ons by companies it backs
2020 1 + 01
2021 3 + 47
2022 1 + 34
2023 2 + 02
2024 0 + 44
2025 1 + 01

Source: company, investor and government releases and SEC filings.

TGOs tgos.io

Bought by the firm 8

Sep 202510

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.

cyberintelligence communityspaceSource
UndisclosedClosed Sep 10, 2025
Dec 202319

Funds managed by Carlyle and Insight Partners buy Exiger

A supply chain risk and third-party risk software company serving corporations, government agencies and banks.

IT and government servicesSource
$1.2 billionClosed
May 202331

Carlyle buys Meopta

Seller: Rausnitz family

A Czech manufacturer of optical, opto-mechanical, and opto-electronic solutions.

components and materialsSource
UndisclosedClosed
May 202216

Moose Bidco takes ManTech private

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

IT and government servicescyberintelligence communitySource
$4.2 billionClosed Sep 14, 2022
Nov 202111

J.F. Lehman & Company sells IMIA to Investment affiliates of The Carlyle Group and Stellex Capital Management

Buyer: Investment affiliates of The Carlyle Group and Stellex Capital Management

Marine preservation, structural, scaffolding and environmental containment, and staffing services for the maintenance, repair, and overhaul and construction of the U.S. Navy fleet

shipbuilding and maritimeMRO and sustainmentSource
UndisclosedClosed Nov 11, 2021
Feb 202101

An affiliate of The Carlyle Group buys Two Six Labs

A provider of cybersecurity and advanced technology solutions for the U.S. Government, with customers including DARPA, U.S. Cyber Command and the Department of Homeland Security; combined with IST Research to form Two Six Technologies.

cyberintelligence communitySource
UndisclosedClosed Feb 1, 2021
Feb 202101

Carlyle Group buys IST Research

Backed by Blue Delta Capital Partners

Provider of open source data collection, population engagement and content discovery solutions, combined with Two Six Labs to form Two Six Technologies

cyberintelligence communitySource
UndisclosedClosed Feb 1, 2021
Feb 202011

Titan Acquisition Holdings buys its 10% interest in San Diego Shipyard contributed to Titan Acquisition Holdings, L.P. for 10% interest

Seller: Huntington Ingalls Industries · Backed by Carlyle Group and Stellex Capital Management

A fleet service and repair site on San Diego Bay providing shipfitting, welding, pipefitting, machinery and repair services

MRO and sustainmentshipbuilding and maritimeSource
$83 millionClosed Feb 1, 2021

Add-ons by companies it backs 11

Aug 202423

StandardAero buys Aero Turbine

Backed by Carlyle

A provider of engine component repair and other value-added engine aftermarket services for U.S. and international customers.

MRO and sustainmentpropulsionSource
$132 millionClosed Aug 23, 2024
Aug 202407

Exiger buys XSB

Backed by Carlyle, Insight Partners and JMI Equity

A logistics intelligence platform whose catalog spans 100 million parts and 400 million parts attributes used by the U.S. Federal Government.

MRO and sustainmentIT and government servicesSource
UndisclosedClosed Aug 7, 2024
Jul 202430

Exiger buys aDolus

Backed by Carlyle, Insight Partners and JMI Equity

A software supply chain risk visibility platform that analyzes binaries, firmware, operational technology and IoT software.

cyberIT and government servicesSource
UndisclosedClosed Jul 30, 2024
Jul 202408

Exiger buys Versed AI

Backed by Carlyle, Insight Partners and JMI Equity

An AI technology company, born out of the University of Cambridge, that extracts and aggregates multi-tier supplier networks and generates automated bills of material.

IT and government servicesSource
UndisclosedClosed Jul 8, 2024
May 202212

StandardAero buys EB Airfoils

Backed by Carlyle

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

MRO and sustainmentpropulsionSource
UndisclosedClosed May 12, 2022
May 202202

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.

intelligence communitycyberSource
UndisclosedClosed May 2, 2022
Apr 202204

Two Six Technologies buys River Loop Security

Backed by Carlyle Group

A provider of technical expertise in cybersecurity and embedded systems.

cyberSource
UndisclosedClosed Apr 4, 2022
Dec 202130

StandardAero buys PTS Aviation

Backed by Carlyle

A business that primarily procures and sells engine parts, with expertise in used serviceable material for the CFM56 engine.

MRO and sustainmentpropulsionSource
UndisclosedClosed Dec 30, 2021
Oct 202105

StandardAero buys Asian Surface Technologies

Backed by Carlyle

A component repair business in the Asia-Pacific region; StandardAero bought the remaining 59.2% it did not already own.

MRO and sustainmentcomponents and materialsSource
UndisclosedClosed Oct 5, 2021
Aug 202124

Two Six Technologies buys Trusted Concepts

Backed by Carlyle Group

A provider of software engineering, cyber, and advanced analytics solutions to customers in the Intelligence Community.

intelligence communitycyberSource
UndisclosedClosed Aug 24, 2021
Jul 202101

StandardAero buys Signature Aviation Engine Repair and Overhaul business

Seller: Signature Aviation · Backed by Carlyle

An engine repair and overhaul business serving general aviation, regional and helicopter engines.

MRO and sustainmentpropulsionSource
UndisclosedClosed Jul 1, 2021

Sold 6

Dec 202416

Carlyle sells Forgital to Stonepeak

Buyer: Stonepeak

A provider of advanced aerospace and industrial forged products, including seamless rolled rings and assembled fan modules.

components and materialspropulsionSource
UndisclosedClosed Jun 30, 2025
Mar 202407

Systems Planning & Analysis buys ManTech technical advisory services programs

Seller: ManTech · Backed by Arlington Capital Partners

ManTech's DARPA, Office of the Secretary of Defense Strategic Capabilities Office and select National Reconnaissance Office technical advisory services programs

IT and government servicesintelligence communitySource
UndisclosedClosed Mar 7, 2024
Feb 202303

Carlyle and Stellex Capital Management sell Titan Acquisition Holdings to An affiliate of Lone Star Funds

Buyer: An affiliate of Lone Star Funds

A bi-coastal ship repair, marine and heavy complex fabrication group made up of Vigor Industrial, MHI Holdings and Continental Maritime of San Diego.

MRO and sustainmentshipbuilding and maritimeSource
$63 millionClosed Jun 15, 2023
Nov 202230

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.

components and materialspropulsionSource
UndisclosedClosed Feb 15, 2023
Sep 202215

Veritas Capital buys Chromalloy

Seller: Carlyle

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

MRO and sustainmentpropulsioncomponents and materialsSource
UndisclosedClosed Dec 13, 2022
Jun 202101

Accenture Federal Services buys Novetta

Seller: Carlyle Group

An advanced analytics company serving U.S. federal organizations in machine learning, cyber, and cloud engineering.

IT and government servicescyberintelligence communitySource
UndisclosedClosed Aug 19, 2021

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