--- title: A&D Weekly News & Transactions - Week 5 description: The JCP A&D Weekly Report from Monday, February 5th, 2024 covers significant developments in the aerospace and defense industry. image: https://blog.janescapital.com/hubfs/Weekly%20AD%20-%20New/A%26D%20Weekly%20Recap%20-%20Week%205%20(2.5.24).png --- [![Janes Capital Partners](https://blog.janescapital.com/hs-fs/hubfs/JCP-Logo-Color.png?width=700&height=86&name=JCP-Logo-Color.png "Janes Capital Partners")](https://www.janescapital.com/) [![Janes Capital Partners](https://blog.janescapital.com/hs-fs/hubfs/JCP-Logo-Color.png?width=720&height=89&name=JCP-Logo-Color.png "Janes Capital Partners")](https://www.janescapital.com/) - [Who We Are](https://www.janescapital.com/who-we-are) - [Advisory Services](https://www.janescapital.com/aerospace-defense-advisory-services) - Transactions - [Our Transactions](https://www.janescapital.com/successful-aerospace-defense-ma-transactions) - [Case Studies](https://blog.janescapital.com/case-studies) - Industry Insights - [Key Aerospace & Defense Insights](https://blog.janescapital.com/key-insights) - [A&D Quarterly Reports](https://blog.janescapital.com/quarterly-reports) - [Segment Reports](https://www.janescapital.com/segment-reports) - [A&D Weekly Reports](https://blog.janescapital.com/weekly-ad-news-transactions) - News & Events - [News & Past Events](https://blog.janescapital.com/news-events) - [Upcoming Events](https://www.janescapital.com/aerospace-defense-conferences-networking-events) [Connect with a Banker](https://www.janescapital.com/schedule-a-meeting-1#connect) [Connect with a Banker](https://www.janescapital.com/schedule-a-meeting-1#connect) - [Who We Are](https://www.janescapital.com/who-we-are) - [Advisory Services](https://www.janescapital.com/aerospace-defense-advisory-services) - Transactions - [Our Transactions](https://www.janescapital.com/successful-aerospace-defense-ma-transactions) - [Case Studies](https://blog.janescapital.com/case-studies) - Industry Insights - [Key Aerospace & Defense Insights](https://blog.janescapital.com/key-insights) - [A&D Quarterly Reports](https://blog.janescapital.com/quarterly-reports) - [Segment Reports](https://www.janescapital.com/segment-reports) - [A&D Weekly Reports](https://blog.janescapital.com/weekly-ad-news-transactions) - News & Events - [News & Past Events](https://blog.janescapital.com/news-events) - [Upcoming Events](https://www.janescapital.com/aerospace-defense-conferences-networking-events) [Connect with a Banker](https://www.janescapital.com/schedule-a-meeting-1#connect) A&D Weekly Reports #### Share this [Share on X](https://x.com/intent/post?url=https://blog.janescapital.com/weekly-ad-news-transactions/02-05-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+5) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/02-05-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+5) [Share on LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https://blog.janescapital.com/weekly-ad-news-transactions/02-05-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+5) # A&D Weekly News & Transactions - Week 5 by **[Stephen Perry](https://blog.janescapital.com/weekly-ad-news-transactions/author/stephen-perry)** ![](https://blog.janescapital.com/hubfs/Weekly%20AD%20-%20New/A%26D%20Weekly%20Recap%20-%20Week%205%20(2.5.24).png)   ### Industry Headline News ![Airbus\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Airbus_Logo.png?width=1280&height=1280&name=Airbus_Logo.png) **Airbus is deepening the ties with Chinese suppliers, expanding collaboration in aircraft production and assembly** *Feb. 4, 2024 -* The second line of the Airbus A320 Family is set to start operations by end-2025, aiming to enhance localization of the supply chain in China. The total value of Airbus' cooperation with the Chinese aviation industry reached $1 billion in 2020, contributing to Airbus' market share in China growing from 20% to over 50% in the past 15 years. [(China Daily)](https://www.chinadaily.com.cn/a/202402/04/WS65bee836a3104efcbdae9881.html) Airbus is deepening the ties with Chinese suppliers, expanding collaboration in aircraft production and assembly Feb. 4, 2024 - The second line of the Airbus A320 Family is set to start operations by end-2025, aiming to enhance localization of the supply chain in China. The total value of Airbus' cooperation with the Chinese aviation industry reached $1 billion in 2020, contributing to Airbus' market share in China growing from 20% to over 50% in the past 15 years. (China Daily) ![BAE\_Systems\_logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/BAE_Systems_logo.png?width=1500&height=1500&name=BAE_Systems_logo.png) **BAE Systems acquired drone-maker Malloy Aeronautics to enhance its position in the unmanned systems market** *Feb. 2, 2024* - Following a two-year partnership, focuses on the development of the all-electric quadcopter T-650, with applications spanning logistics to potential weaponization. Malloy's operation will remain in Berkshire as part of BAE's FalconWorks research and development. [(Defense News)](https://www.defensenews.com/unmanned/2024/02/02/bae-systems-buys-drone-maker-malloy-aeronautics/) BAE Systems acquired drone-maker Malloy Aeronautics to enhance its position in the unmanned systems market Feb. 2, 2024 - Following a two-year partnership, focuses on the development of the all-electric quadcopter T-650, with applications spanning logistics to potential weaponization. Malloy's operation will remain in Berkshire as part of BAE's FalconWorks research and development. (Defense News) ![France-Flag](https://blog.janescapital.com/hs-fs/hubfs/France-Flag.jpg?width=863&height=863&name=France-Flag.jpg) **France's Defense has allocated $1.2 billion for the purchase of 109 Caesar truck-mounted howitzers, several armored troop carriers, and eight NH90 helicopters** *Feb. 2, 2024* - This investment is part of France's broader plan to modernize its armed forces by 2030, with a €413 billion budget for the period. The procurement aims to enhance capabilities across air, land, naval, and space domains, with deliveries scheduled to begin in 2026. [(Defense News)](https://www.defensenews.com/global/europe/2024/02/02/france-orders-11-billion-of-cannons-vehicles-and-helicopters/?utm_source=linkedin&utm_medium=social&utm_campaign=li_dfn) France's Defense has allocated $1.2 billion for the purchase of 109 Caesar truck-mounted howitzers, several armored troop carriers, and eight NH90 helicopters Feb. 2, 2024 - This investment is part of France's broader plan to modernize its armed forces by 2030, with a €413 billion budget for the period. The procurement aims to enhance capabilities across air, land, naval, and space domains, with deliveries scheduled to begin in 2026. (Defense News) ![General-Atomics-Square-Logo-1](https://blog.janescapital.com/hs-fs/hubfs/General-Atomics-Square-Logo-1.png?width=195&height=195&name=General-Atomics-Square-Logo-1.png) **The U.S. has approved a $3.9 billion sale of General Atomics MQ-9B drones to India, enhancing defense cooperation** *Feb. 1, 2024* - The deal includes 31 drones, 310 bombs, and 170 missiles, strengthening India's surveillance capabilities. This follows increased defense collaboration between the two nations, with India importing American equipment and contributing to the maintenance of U.S. vessels in the Indo-Pacific region. [(USNI News)](https://news.usni.org/2024/02/01/u-s-approves-potential-3-9b-mq-9b-uav-sale-to-india) The U.S. has approved a $3.9 billion sale of General Atomics MQ-9B drones to India, enhancing defense cooperation Feb. 1, 2024 - The deal includes 31 drones, 310 bombs, and 170 missiles, strengthening India's surveillance capabilities. This follows increased defense collaboration between the two nations, with India importing American equipment and contributing to the maintenance of U.S. vessels in the Indo-Pacific region. (USNI News) ![Heart-Aerospace-Square-Logo](https://blog.janescapital.com/hs-fs/hubfs/Heart-Aerospace-Square-Logo.png?width=225&height=225&name=Heart-Aerospace-Square-Logo.png) **Heart Aerospace, Swedish hybrid-electric airplane maker reached a total financing of $145 million after Series B funding** *Feb. 1, 2024 -* Funds will be utilized for development and certification of their first hybrid-electric aircraft, the ES-30, aimed at sustainable regional air travel, with support from investors including Air Canada and United Airlines. The ES-30 has garnered 250 orders and holds letters of intent for an additional 191 airplanes. [(Heart Aerospace)](https://heartaerospace.com/newsroom/heart-aerospace-raises-107-million-in-series-b-funding/) Heart Aerospace, Swedish hybrid-electric airplane maker reached a total financing of $145 million after Series B funding Feb. 1, 2024 - Funds will be utilized for development and certification of their first hybrid-electric aircraft, the ES-30, aimed at sustainable regional air travel, with support from investors including Air Canada and United Airlines. The ES-30 has garnered 250 orders and holds letters of intent for an additional 191 airplanes. (Heart Aerospace) ![Boeing-Logo-Square](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Boeing-Logo-Square.png?width=3840&height=3840&name=Boeing-Logo-Square.png) **Boeing's defense unit reported a $139 million loss in Q4 2023** *Feb. 1, 2024 -* The overall defense sector incurred nearly $1.6 billion in charges in 2023, with the Air Force One program accounting for the highest charges at $482 million. Boeing anticipates improvement in its defense sector as fixed-price programs mature and operate with tighter discipline. [(Defense News)](https://www.defensenews.com/industry/2024/02/01/boeing-defense-unit-reports-139m-loss-across-three-major-programs/) Boeing's defense unit reported a $139 million loss in Q4 2023 Feb. 1, 2024 - The overall defense sector incurred nearly $1.6 billion in charges in 2023, with the Air Force One program accounting for the highest charges at $482 million. Boeing anticipates improvement in its defense sector as fixed-price programs mature and operate with tighter discipline. (Defense News) ![United-Airlines-Square-Logo](https://blog.janescapital.com/hs-fs/hubfs/United-Airlines-Square-Logo.png?width=500&height=500&name=United-Airlines-Square-Logo.png) **United Airlines CEO Scott Kirby initiated talks with Airbus to purchase more A321neo jets, compensating for delays in Boeing's 737 MAX 10** *Jan. 29, 2024 -* After concerns over the certification of the delayed MAX 10, may also impact United's existing order for larger !350s, easing the deadlock between the airline and Airbus. The talks are in early stages, and no agreement is guaranteed, highlighting challenges for Boeing amidst production and safety issues. [(Reuters)](https://www.reuters.com/business/aerospace-defense/united-ceo-kickstarts-airbus-talks-amid-boeing-delays-sources-2024-01-28/) United Airlines CEO Scott Kirby initiated talks with Airbus to purchase more A321neo jets, compensating for delays in Boeing's 737 MAX 10 Jan. 29, 2024 - After concerns over the certification of the delayed MAX 10, may also impact United's existing order for larger !350s, easing the deadlock between the airline and Airbus. The talks are in early stages, and no agreement is guaranteed, highlighting challenges for Boeing amidst production and safety issues. (Reuters) ### Weekly Transaction Review | **No.** | **Parties Involved** | **Transaction Metrics** | **Location** | **Segment** | | | | --- | --- | --- | --- | --- | --- | --- | | | **Target \[Parent\]** Acquirer \[Parent\] | Price ($M) | Price/ Revenue | Price/ EBITDA | Target | Target | | 1 | **Airbus Oneweb Satellites LLC \[Eutelstat Communications\]** Airbus SE | - | - | - | Merritt Island, FL | Satellite, Satellite Services & Space Systems | | 2 | **Carlisle Interconnect Technologies Inc. \[Carlisle Companies\]** Amphenol Corporation | $2,025.0 | 2.3x | 11.3x | Saint Augustine, FL | Connectors | | 3 | **Anokiwave Inc.** Qorvo, Inc. | - | - | - | San Diego, CA | Defense Electronics | | 4 | **Fusus, Inc.** Axon Enterprise, Inc. | - | - | - | Peachtree Corners, GA | Government Services, IT Services and Software | | 5 | **Automecanica Media Srl** Rheinmetall Landsysteme GmbH | - | - | - | Medias, Romania | Land Systems | | 6 | **Malloy Aeronautics Ltd.** BAE Systems plc | - | - | - | Reading, United Kingdom | Unmanned Vehicles | | **No.** | **Target Descriptions** | | --- | --- | | 1 | Airbus OneWeb Satellites is a joint venture between Airbus and OneWeb that was formed in 2016 to design and manufacture the satellites for the OneWeb constellation. In the process, the joint venture revolutionized satellite manufacturing by being the first to utilize and mass production techniques to dramatically reduce production times and costs. | | 2 | The CIT business designs and manufactures high-performance wire, cable. connectors, contacts, and cable assemblies for the transfer of power and data primarily for the aerospace, medical, defense electronics, test and measurement equipment, and select industrial markets. | | 3 | Anokiwave designs, manufacturers, and delivers integrated circuit solutions. The company offers SiGe core chip solutions, E-band point-to-point radio MMICs, automotive radar solutions, silicon active antenna quad core ICs, and GaN and GaAs MMICs. It provides its solutions for automotive radar, satellite communication, point-to-point radio, and active electronically scanned antenna applications. | | 4 | Fusus is a developer of real-time crime center platforms for global law enforcement. The Fusus platform is an open ecosystem that integrates and enhances all business community, government, public safety and investigations assets. It can integrate with any data source, pull in public and community video feeds, and enable video sources with artificial intelligence. | | 5 | Automecanica is a manufacturer of special vehicles, truck build-ons and trailers for private sector and international government automotive and defense markets. The company also manufactures tankers for transporting fuel and liquid foodstuffs as well for shipping general cargo. Furthermore, Automecanica's product portfolio includes streetsweepers and construction vehicles. | | 6 | Malloy develops and manufactures all-electric uncrewed aerial systems (UAS) and VTOL (Vertical Take Off and Landing) aircraft for private sector and international government defense markets. The company's current range of uncrewed, heavy lift quadcopters are capable of lifting payloads from 68kg to 180kg over short to medium range missions. | ### Selected Janes Capital Partners A&D Experience ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/Schatz%20Bearing%20Arxis%20(2).jpg) [Arxis Acquires Schatz Bearing Corporation](https://blog.janescapital.com/news-events/arxis-acquires-schatz-bearing-corporation) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/TDG%20Undisclosed%202.jpg) [TransDigm Group Acquires an Undisclosed Provider of Proprietary Aerospace Instrumentation and Sensing Solutions](https://blog.janescapital.com/news-events/transdigm-group-undisclosed-provider-proprietary-aerospace-instrumentation) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/Cook%20Defence%20HEICO-1.png) [Cook Defence Systems Acquired by HEICO](https://blog.janescapital.com/news-events/cook-defence-systems-has-been-acquired-by-heico) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/Exo-Anduril-Tombstone.png) [ExoAnalytic Solutions Acquired by Anduril](https://blog.janescapital.com/news-events/exoanalytic-solutions-has-agreed-to-be-acquired-by-anduril) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/ScanfiberComposites.png) [Scanfiber Has Been Acquired by Fjord Defence](https://blog.janescapital.com/news-events/scanfiber-has-been-acquired-by-fjord-defence) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/TDG%20Undisclosed%20Tombstone.png) [TransDigm Group Acquires an Undisclosed Provider of Defense Products](https://blog.janescapital.com/news-events/transdigm-group-undisclosed-provider-defense-electronics) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/OSL%20Terma.png) [OSL Technology Has Been Acquired by Terma A/S](https://blog.janescapital.com/news-events/osl-acquired-by-terma) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/ACC-Arcline.png) [American Casting Company Receives Strategic Investment from Arcline](https://blog.janescapital.com/news-events/janes-capital-partners-advises-american-casting-company-on-its-strategic-investment-by-arcline) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/Digital_Barriers_ARC_Group.png) [Digital Barriers Has Been Acquired by TJC-Backed ACR Group](https://blog.janescapital.com/news-events/digital-barriers-has-been-acquired-by-tjc-based-acr-group) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/HTS-BTX%20Precision.jpg) [High Tech Solutions Has Been Acquired By BTX Precision](https://blog.janescapital.com/news-events/high-tech-solutions-acquired-by-btx-precision) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/Leichtwerk%20AG%20Rheinmetall.png) [Assets of Leichtwerk AG Acquired by Rheinmetall AG](https://blog.janescapital.com/news-events/assets-of-leichtwerk-ag-acquired-by-rheinmetall-ag) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/ETL%20-%20IRT.png) [ETL Systems has acquired IRT Technologies](https://blog.janescapital.com/news-events/etl-systems-has-acquired-irt-technologies) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/McStarlite-Tombstone-FI.png) [McStarlite Company has been acquired by Standex International Corporation](https://blog.janescapital.com/news-events/mcstarlite-company-acquired-by-standex-international-corporation) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/HEICO%20-%20MC2%20%20Blog%20Tombstone.png) [Mid Continent Controls acquired by HEICO Corporation](https://blog.janescapital.com/news-events/mid-continent-controls-acquired-by-heico-corporation) Read More ![](https://blog.janescapital.com/hubfs/Raptor%20Tombstone%20-%20JCP%20Website-1.png) [TransDigm Group Acquires Raptor Scientific](https://blog.janescapital.com/news-events/transdigm-group-acquires-raptor-scientific) Read More ![](https://blog.janescapital.com/hubfs/JCP_Tombstones/Sentient-Shield_AI_Tombstone_400x400.png) [Sentient Vision Systems Acquired by Shield AI](https://blog.janescapital.com/news-events/sentient-vision-systems-acquired-by-shield-ai) Read More Load More Transactions ### Janes Capital Partners Team Contact Information ![Picture2-1](https://blog.janescapital.com/hs-fs/hubfs/Website%20Imagery/Team%20Members/Picture2-1.jpeg?width=960&height=960&name=Picture2-1.jpeg) #### Stephen Perry *Managing Director* [Email Stephen](mailto:sperry@janescapital.com)[(949) 769-3323 x6901](tel:9497693323) ![Ken-white-1-1](https://blog.janescapital.com/hs-fs/hubfs/Website%20Imagery/Team%20Members/Ken-white-1-1.png?width=960&height=960&name=Ken-white-1-1.png) #### Ken Fukumoto *Director* [Email Ken](mailto:kfukumoto@janescapital.com) [(949) 769-3323 x6904](tel:9497693323) ![Chris-white-1-1](https://blog.janescapital.com/hs-fs/hubfs/Website%20Imagery/Team%20Members/Chris-white-1-1.png?width=1200&height=1200&name=Chris-white-1-1.png) #### Chris Reinecke *Vice President* [Email Chris](mailto:cwreinecke@janescapital.com) [(949) 769-3323 x6905](tel:9497693323) ![Bruce-white-1-1](https://blog.janescapital.com/hs-fs/hubfs/Website%20Imagery/Team%20Members/Bruce-white-1-1.png?width=1200&height=1200&name=Bruce-white-1-1.png) #### Bruce Renner *Analyst* [Email Bruce](mailto:brenner@janescapital.com) [(949) 769-3323 x6906](tel:9497693323) ### Subscribe to A&D Weekly #### Share this [Share on X](https://x.com/intent/post?url=https://blog.janescapital.com/weekly-ad-news-transactions/02-05-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+5) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/02-05-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+5) [Share on 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