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Trive Capital: Defense Investment History

24 defense buys: 10 by the firm and 14 add-ons by companies it backs. It sold 4 businesses in that time.

Trive Capital and the companies it backs made 4 defense buys in each of 2020, 2021, 2022 and 2025, their busiest years

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

Bought by the firmAdd-ons by companies it backs
2020 2 + 24
2021 0 + 44
2022 2 + 24
2023 2 + 13
2024 0 + 22
2025 2 + 24
2026 2 + 13

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

TGOs tgos.io

Bought by the firm 10

Apr 202621

Trive Capital buys Polar Technology

Oxfordshire, UK manufacturer of complex, highly engineered composite and metallic components.

components and materialsSource
UndisclosedClosed
Feb 202603

Trive Capital buys PavCon

Provider of advanced predictive analytics and decision-support solutions serving the U.S. Department of War.

IT and government servicesMRO and sustainmentSource
UndisclosedClosed
Sep 202503

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.

components and materialsspaceshipbuilding and maritimeSource
UndisclosedClosed
Feb 202527

Trive Capital buys Independent Forgings & Alloys

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

components and materialspropulsionSource
UndisclosedClosed
Aug 202322

Trive Capital buys Hypergiant Industries

AI-enabled, cloud-based command and control software and solutions for space, defense and critical infrastructure.

C4ISR and electronicsspaceSource
UndisclosedClosed
Jan 202326

Trive Capital buys Kittyhawk

Provider of Hot Isostatic Pressing (HIP) services for space, commercial aerospace, defense and medical applications.

components and materialsspaceSource
UndisclosedClosed
Nov 202230

Trive Capital buys Forward Slope

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

C4ISR and electronicscyberIT and government servicesSource
UndisclosedClosed
Feb 202216

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.

EW and sensorsMRO and sustainmentSource
UndisclosedClosed
Aug 202028

TCFIII Spaceco Holdings buys Aerospace Engineering

Backed by Trive Capital

Founding business of Karman Space and Defense; combined with AMRO as a supplier focused on manufacturing complex systems for the space and missile markets

spacemunitions and missilesSource
UndisclosedClosed Aug 28, 2020
Jul 202027

Trive Capital takes a stake in Dan Magarian's Field Aerospace

Seller: Dan Magarian

Aircraft integration, engineering, modification and support services for government, aerospace and defense customers, focused on special-mission aircraft.

MRO and sustainmentC4ISR and electronicsSource
UndisclosedClosed

Add-ons by companies it backs 14

Sep 202601

Canopy Aerospace & Defense buys Aviotec

Backed by Trive Capital

Turin, Italy-based supplier of multi-layer insulation (MLI) blankets and electrical harnesses for satellites and spacecraft.

spacecomponents and materialsSource
UndisclosedClosed
Nov 202504

Canopy Aerospace & Defense buys Tods Technology

Backed by Trive Capital

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

shipbuilding and maritimecomponents and materialsSource
UndisclosedClosed
Sep 202524

Vitesse Systems, backed by Trive Capital buys Spacetime Engineering

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

spaceC4ISR and electronicsSource
UndisclosedClosed
Mar 202407

Kittyhawk, backed by Trive Capital buys Stack HIP

Seller: Stack Metallurgical Group

Hot Isostatic Pressing services operator in Albany, Oregon with the largest high-pressure HIP vessels in North America.

components and materialsspaceSource
UndisclosedClosed
Feb 202416

TCFIII Spaceco Holdings buys Rapid Machining Solutions

Backed by Trive Capital

Aviation and aerospace machining and design business; the buyer says it expands its design and manufacturing capabilities

aerostructurescomponents and materialsspaceSource
$26 millionClosed Feb 16, 2024
Aug 202324

Forward Slope, backed by Trive Capital buys SoarTech

Provider of advanced artificial intelligence solutions for Department of Defense mission requirements.

autonomy and dronesIT and government servicesSource
UndisclosedClosed
Jun 202221

Vitesse Systems, backed by Trive Capital buys Custom Microwave

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

spaceEW and sensorscomponents and materialsSource
UndisclosedClosed
Jun 202207

Systima Technologies buys Cornerstone Research Group assets

Seller: Cornerstone Research Group · Backed by Trive Capital

Certain assets including equipment, inventory, and intellectual property

components and materialsSource
Up to $2 millionClosed
Nov 202104

Vitesse Systems, backed by Trive Capital buys Sterling Precision

Manufacturer of dip-brazed assemblies and thermal management and communication devices such as cold plates, chassis assemblies and waveguides.

EW and sensorscomponents and materialsSource
UndisclosedClosed
Sep 202121

Karman Missile & Space Systems buys TMX Engineering

Backed by Trive Capital

Complex precision machining of exotic and non-exotic metals for missile, space and hypersonic systems.

components and materialsmunitions and missilesspaceSource
UndisclosedClosed
Sep 202114

TCFIII Spaceco Holdings buys Systima Technologies

Backed by Trive Capital

Specialist in design and integration of energetic and mechanical systems into the structural design of mission-critical space and hypersonic systems

components and materialsmunitions and missilesspaceSource
UndisclosedClosed Sep 14, 2021
Feb 202109

Karman Missile & Space Systems buys AAE Aerospace

Backed by Trive Capital

Manufacturer of high temperature composites for the missile, interceptor and space sectors.

propulsionmunitions and missilesspaceSource
UndisclosedClosed
Dec 202021

TCFIII Spaceco Holdings buys American Automated Engineering

Backed by Trive Capital

Manufacturer of high-temperature composites

components and materialsmunitions and missilesSource
UndisclosedClosed Dec 21, 2020
Oct 202028

TCFIII Spaceco Holdings buys AMRO Fabricating

Backed by Trive Capital

Founding business of Karman Space and Defense; combined with AEC as a supplier focused on manufacturing complex systems for the space and missile markets

spacemunitions and missilesSource
UndisclosedClosed Oct 28, 2020

Sold 4

Jul 202616

Trive Capital sells Kittyhawk to Machine Sciences, a portfolio company of Viking Global

Buyer: Machine Sciences, a portfolio company of Viking Global

Provider of Hot Isostatic Pressing (HIP) services for space, commercial aerospace, defense and power generation end-markets.

components and materialsspaceSource
UndisclosedClosed May 21, 2026
Dec 202301

Trive Capital sells Systems Innovation Engineering

Buyer: Undisclosed buyer

Technology-driven defense services firm focused on improving industrial base resiliency.

EW and sensorsMRO and sustainmentSource
UndisclosedClosed Dec 1, 2023
Jul 202229

Trive Capital sells WDC Acquisition

Buyer: Undisclosed buyer

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

aerostructurescomponents and materialsSource
UndisclosedClosed Jul 29, 2022
Mar 202009

Trive Capital sells AEVEX Aerospace to Madison Dearborn Partners and CoVant

Buyer: Madison Dearborn Partners and CoVant

Airborne intelligence, surveillance and reconnaissance (ISR) solutions provider with engineering and technology, flight operations and intelligence solutions units.

C4ISR and electronicsintelligence communitySource
UndisclosedClosed Mar 18, 2020

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