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A&D Weekly News & Transactions - Week 24
Industry Headline News
Jun. 13, 2024 - The Air Force seeks affordable replacements for its aging aircraft amidst financial constraints, despite previously ordering 36 new Saab Gripens. (Simple Flying)
Jun. 13, 2024 - GE is also developing the T901 engine under the Improved Turbine Engine Program, though its production has been delayed following the Army's cancellation of the Future Attack Reconnaissance Aircraft (FARA) program. (Avionics International)
The U.S. Department of Defense selected Blue Origin, SpaceX, and United Launch Alliance for national security space missions under a $5.6b award program
Jun. 13, 2024 - This marks the initial phase of the Pentagon's National Security Space Launch Phase 3 procurement program, aimed at increasing competition in the U.S. launch sector and involving rockets capable of meeting various mission requirements. (Reuters)
Jun. 13, 2024 - Whitaker emphasized a more engaged approach, including weekly meetings with Boeing and maintaining a permanent F.A.A. presence at their factories. (New York Times)
Jun. 12, 2024 - With Denmark purchasing $216m worth of missiles and Norway acquiring $1.9bn worth, it aimed at enhancing their air-to-air capabilities and aligns with a regional strategy to strengthen NATO's northern defenses against Russian interests. (AirForce Technology)
Jun. 12, 2024 - Jordan emphasized the airline's willingness to shift its longstanding business model to increase revenue, responding to both competitive pressures and customer demands for more premium options. (CNBC)
Jun. 11, 2024 - The city's deep ties to the aviation industry mean widespread concern, especially with potential job losses and the uncertainty surrounding Boeing's possible acquisition of Spirit, a major local employer. (NPR)
Jun. 11 2024 - The company delivered 19 MAX jets in May, down from 35 the previous year, and reported four new orders for 787-10 Dreamliners. Boeing's backlog slightly decreased to 5,625, while Airbus delivered 53 aircraft in May, down 16% year-on-year. (Reuters)
Weekly Transaction Review
No. | Parties Involved | Transaction Metrics | Location | Segment | ||
Target [Parent] Acquirer [Parent] |
Price ($M) |
Price/ Revenue |
Price/ EBITDA |
Target | Target | |
1 | PAR Government Systems [PAR Technology] Booz Allen Hamilton |
$95.0 | - | - | Rome, NY | Government Services, IT Services and Software |
2 | Chameleon Consulting Clarity Innovations [Capitol Meridian] |
- | - | - | Herdon, VA | Cybersecurity, Intelligence Services and Homeland Defense |
3 | Jankel Armouring NP Aerospace |
- | - | - | Weybridge, United Kingdom | Land Systems |
4 | FlightWave Aerospace Systems Red Cat Holdings |
- | - | - | Santa Monica, CA | Unmanned Vehicles |
5 | Clear Cloud VTG [Alvarez & Marsal Capital] |
- | - | - | Reston, VA | Government Services, IT Services and Software |
6 | EpiSci Merlin Labs |
- | - | - | Poway, CA | Unmanned Vehicles |
No. | Target Descriptions |
1 | PAR Government Systems develops system and software-based solutions for government users at the federal, state, and local level. The company's technical services include networking, systems administration, information assurance, application programming, help desk operations, information technology/technical training, and communications station technical. |
2 | Chameleon is a provider of a full spectrum of technical and physical cyberspace operations and information operations to private sectors and U.S. federal government aerospace and defense markets. |
3 | Jankel is a designer and manufacturer of armoured and tactical vehicles and survivability systems for private sector, U.S. federal, and international government defense and homeland security markets. The company's products are deployed in military, humanitarian and security operations around the world, where terrain, climate, environment and operational effectiveness are critical to the success of a mission. |
4 | Flightwave develops and manufactures vertical take-off and landing (VTOL) drone, sensor, and software solutions for private sector and U.S. federal government aerospace, defense, and environmental markets. The company's Edge 130 Blue is a UAS Certified military-grade tricopter for long-range mapping, inspection, surveillance, and reconnaissance needs. |
5 | Clear Cloud is a provider of software, cloud, and data engineering solutions and services to private sector and U.S. federal government intelligence markets. The company develops and deploys specialized applications, optimizes cloud operations, and ensures mission success for its customers. |
6 |
EpiSci develops next-generation autonomous technologies for defense, aerospace, and commercial applications for private sector and U.S. federal government defense markets. EpiSci's flagship product, SwarmSense, is a scalable and customizable groundbreaking software + hardware system that uses AI, machine vision and mesh networking to accomplish a wide range of dynamic missions that may not be possible for a single drone. |
Selected Janes Capital Partners A&D Experience