Download and read the November 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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Description
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a portfolio company of
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Target: North Tonawanda, NY-based Aero Instruments & Avionics is a provider of test, repair, and overhaul services for private sector and U.S. federal government commercial, military, and regional aircraft platforms. The company specializes in the service of flight displays, indicator controls, autopilot systems and various other aircraft accessories, instrumentation, and avionics.
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Buyer: Miramar, FL-based Aero Accessories & Repair specializes in the maintenance, repair, and overhaul (MRO) of aircraft components, including environmental systems and engine accessories. The company supports commercial and general aviation customers.
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Terms: Transaction announced on November 4, 2024. Terms not disclosed.
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Target: Wilmington, OH-based Air Transport Services Group is a provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. The company operates through its principal subsidiaries, which include two airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates. The company also provides air cargo lift, aircraft leasing, aircraft maintenance services, and airport ground services.
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Buyer: New York, NY-based Stonepeak Partners is an investment firm focusing on infrastructure and real assets across sectors such as energy, transportation, and communications. The company targets sustainable growth and operational improvement to generate long-term value.
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Terms: Transaction announced on November 4, 2024. Purchase price is expected to be $3.1B, 1.6x and 6.9x TTM Sep-24, respectively.
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a portfolio company of
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Target: Cranberry Township, PA-based AirGroup America is a stocking distributor of aerospace replacement parts, specializing in high precision bearings for private sector and U.S. federal government aerospace and defense markets. The company's customers include FAA repair stations, airlines, commercial customers and the US Military.
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Buyer: Miramar, FL-based Aero Accessories & Repair specializes in the maintenance, repair, and overhaul (MRO) of aircraft components, including environmental systems and engine accessories. The company supports commercial and general aviation customers.
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Terms: Transaction announced on November 12, 2024. Terms not disclosed.
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Target: Las Vegas, NV-based Lone Mountain Aviation is Nevada's largest general aviation FAA Part 145 repair station. The company is a certified warranty repair center for Cirrus, Cessna, Piper, Beechcraft and Epic aircraft manufacturers, as well as Williams, Pratt & Whitney, Continental, and Lycoming Engines.
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Buyer: Las Vegas, NV-based All In Aviation provides flight training, aircraft rental, and management services tailored to individual and business aviation needs. The company specializes in Cirrus Aircraft and offers personalized instruction, safety training, and conciergelevel support to enhance the private aviation experience.
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Terms: Transaction announced on November 26, 2024. Terms not disclosed.
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