Download and read the May 2024 issue of the A&D Aftermarket Monthly, covering the latest M&A deal activity and valuation trends in the aerospace & defense manufacturing sector, including companies providing maintenance, repair & overhaul (MRO) services, parts manufacturer approval (PMA) and replacement parts, distribution and logistics, supplemental type certificate (STC) and modifications, supply chain management and aftermarket services. Sign up for the A&D Aftermarket Monthly distribution list to stay up-to-date on the headline acquisitions impacting your market and the current dynamics of the publicly traded strategic companies within the industry.
Key A&D Aftermarket Deals Announced
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Buyer
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Description
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Target: El Segundo, CA-based FDH Aero is a distributor of aerospace fasteners and other c-class components to commercial and defense aircraft manufacturers, subcontractors, and component distributors. The company operates through seven divisions: Aircraft Fasteners International (AFI), Arlington International Aviation Products (AIAP), Blue Sky Industries, PDQ Airspares, BTC Electronic Components, Aerospheres, and Societe AHE.
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Buyer: New York, NY-based NB Capital is a private investment firm that targets minority investments in the following sectors: Business & Industrial Services, Software & Technology, and Healthcare.
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Terms: Minority investment announced on May 9, 2024. Terms not disclosed.
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Target: Denton, TX-based M1 is a provider of professional, technical, and facilities services to private sector and U.S. federal government aerospace, defense, and homeland security markets. The company's capabilities include aviation support services, logistics, information technology, training services, supply chain management, and facilities and equipment maintenance.
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Buyer: New York, NY-based Cerberus Capital is a private investment firm that focuses on making alternative investments in undervalued companies across a variety of sectors. The firm has made several investments in the aerospace and defense sectors.
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Terms: Transaction announced on May 28, 2024. Terms not disclosed.
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Commercial Engine Solutions division
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Target: Canada-based Commercial Engine Solutions division of Lockheed Martin focuses on providing maintenance and parts repair on CFM56 engines. The division operates with capacity for up to 900 CFM56 modules per year and houses three test cells on-site.
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Buyer: New York, NY-based FTAI Aviation is a provider of a complete suite of aviation products that include aircraft leasing, engine leasing, and engine repairs, as well as CFM56 engines, modules, and materials.
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Terms: Transaction announced on May 30, 2024. The purchase price is expected to be $170M.
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Luqa Hangar
a portfolio company of
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Target: Malta-based Luqa Hangar of SR Technics is a six-bay aircraft maintenance, repair, and overhaul facility. The facility has primarily served as an MRO facility for the EasyJet fleet.
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Buyer: FUnited Kingdom-based EasyJet is an international low-cost airline group that connects Europe’s most popular routes. The airline has over 340 aircrafts flying on nearly 1,000 different routes.
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Terms: Transaction announced on May 31, 2024. Terms not disclosed.
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