--- title: A&D Weekly News & Transactions - Week 7 description: The JCP A&D Weekly Report from Monday, February 19th, 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%207%20(2.19.24).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/02-19-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+7) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/02-19-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+7) [Share on LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https://blog.janescapital.com/weekly-ad-news-transactions/02-19-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+7) # A&D Weekly News & Transactions - Week 7 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%207%20(2.19.24).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 has confirmed plans to increase production and achieve ambitious delivery targets in its 2023 results** *Feb. 15, 2024 -*CEO Guillaume Faury emphasized that quality and safety will not be compromised for quantity during the production ramp-up. The company delivered 735 aircraft in 2023, with plans for around 800 deliveries in 2024. [(AeroTime)](https://www.aerotime.aero/articles/airbus-results-year-faury-production-order?utm_source=ActiveCampaign&utm_medium=email&utm_content=Airbus+to++ramp+up++production+as+2023+results+published+%E2%9C%88%EF%B8%8F&utm_campaign=AeroTime+News+%2F+January+24%2C+2024) Airbus has confirmed plans to increase production and achieve ambitious delivery targets in its 2023 results Feb. 15, 2024 - CEO Guillaume Faury emphasized that quality and safety will not be compromised for quantity during the production ramp-up. The company delivered 735 aircraft in 2023, with plans for around 800 deliveries in 2024. (AeroTime) ![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 strengthening its lead over Boeing, potentially challenging the long-standing duopoly in the airplane-manufacturing industry** *Feb. 15, 2024 -* With record-breaking new orders and a decade-spanning order backlog, Airbus aims for its highest-ever production rates in 2026, while posting an 11% increase in annual revenue to 65.4 billion euros ($70.2 billion). [(WSI)](https://www.wsj.com/business/earnings/airbus-expects-to-deliver-more-planes-in-2024-despite-supply-chain-challenges-85ee0869) Airbus is strengthening its lead over Boeing, potentially challenging the long-standing duopoly in the airplane-manufacturing industry Feb. 15, 2024 - With record-breaking new orders and a decade-spanning order backlog, Airbus aims for its highest-ever production rates in 2026, while posting an 11% increase in annual revenue to 65.4 billion euros ($70.2 billion). (WSI) ![US-Department-of-Defense-Logo-Square](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/US-Department-of-Defense-Logo-Square.png?width=523&height=523&name=US-Department-of-Defense-Logo-Square.png) **The Pentagon is considering an 18% reduction in orders for Lockheed Martin's F-35 fighter jets due to budget constraints** *Feb. 14, 2024 -* This move could result in a $1.6 billion hit for Lockheed Martin, impacting about a quarter of its revenue. The aerospace defense contractor, facing challenges with rising costs and legal disputes with suppliers, recently announced layoffs. [(Star Telegram)](https://www.star-telegram.com/news/business/fort-worth/article285495727.html) The Pentagon is considering an 18% reduction in orders for Lockheed Martin's F-35 fighter jets due to budget constraints Feb. 14, 2024 - This move could result in a $1.6 billion hit for Lockheed Martin, impacting about a quarter of its revenue. The aerospace defense contractor, facing challenges with rising costs and legal disputes with suppliers, recently announced layoffs. (Star Telegram) ![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 is set to complete its $5.5 billion acquisition of Ball Aerospace after receiving regulatory approvals** *Feb. 14, 2024 -* The Department of Justice granted early termination of a second information request, finding no antitrust concerns. Once finalized, Ball Aerospace will become BAE Systems' fourth operating sector, named Space & Mission Systems. [(Space News)](https://spacenews.com/bae-systems-wins-approval-for-ball-aerospace-acquisition/) BAE Systems is set to complete its $5.5 billion acquisition of Ball Aerospace after receiving regulatory approvals Feb. 14, 2024 - The Department of Justice granted early termination of a second information request, finding no antitrust concerns. Once finalized, Ball Aerospace will become BAE Systems' fourth operating sector, named Space & Mission Systems. (Space News) ![U.S. Air Force](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/U.S.%20Air%20Force.png?width=500&height=500&name=U.S.%20Air%20Force.png) **The U.S. Air Force aims to award contracts for the first increment of the Collaborative Combat Aircraft program to competing contractors in 2024** *Feb. 13, 2024 -* The second increment is planned for 2025 and there are hopes for international partnerships. The program seeks to develop autonomous platforms enhancing fighter capabilities, and future iterations. [(Air & Spaces Forces Magazine)](https://www.airandspaceforces.com/cca-increment-contracts-next-few-months/) The U.S. Air Force aims to award contracts for the first increment of the Collaborative Combat Aircraft program to competing contractors in 2024 Feb. 13, 2024 - The second increment is planned for 2025 and there are hopes for international partnerships. The program seeks to develop autonomous platforms enhancing fighter capabilities, and future iterations. (Air & Spaces Forces Magazine) ![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 two decades of outsourcing to 50 key suppliers for collaborative product development and manufacturing led to significant quality issues** *Feb. 12, 2024 -* Experts argue that Boeing's outsourcing strategy, initiated during the development of the 787 Dreamliner, lacks the close communication and coordination seen in successful models like Toyota, highlighting potential risks for the company's future. [(Forbes)](https://www.forbes.com/sites/stevebanker/2024/02/12/boeing-is-haunted-by-two-decades-of-outsourcing/?sh=4d12b55664a1) Boeing's two decades of outsourcing to 50 key suppliers for collaborative product development and manufacturing led to significant quality issues Feb. 12, 2024 - Experts argue that Boeing's outsourcing strategy, initiated during the development of the 787 Dreamliner, lacks the close communication and coordination seen in successful models like Toyota, highlighting potential risks for the company's future. (Forbes) ![Honeywell](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Honeywell.png?width=500&height=500&name=Honeywell.png) **Honeywell plans to invest $84 million in expanding its Olathe, Kansas manufacturing facility, creating 156 new jobs** *Feb. 12, 2024 -* The project aims to develop a resilient domestic supply chain for next-generation avionics, aligning with the future aviation. The expansion will be the most technologically advanced aerospace manufacturing centers, focusing on avionics, safety, flight control systems, and complex radio frequency systems. [(Aerospace Manufacturing and Design)](https://www.aerospacemanufacturinganddesign.com/news/honeywell-expand-kansas-aerospace-manufacturing-facility/) Honeywell plans to invest $84 million in expanding its Olathe, Kansas manufacturing facility, creating 156 new jobs Feb. 12, 2024 - The project aims to develop a resilient domestic supply chain for next-generation avionics, aligning with the future aviation. The expansion will be the most technologically advanced aerospace manufacturing centers, focusing on avionics, safety, flight control systems, and complex radio frequency systems. (Aerospace Manufacturing and Design) ### Weekly Transaction Review | **No.** | **Parties Involved** | **Transaction Metrics** | **Location** | **Segment** | | | | --- | --- | --- | --- | --- | --- | --- | | | **Target \[Parent\]** Acquirer \[Parent\] | Price ($M) | Price/ Revenue | Price/ EBITDA | Target | Target | | 1 | **Global Training Aviation** Indra Sistemas | - | - | - | Madrid, Spain | Simulation & Training Systems | | 2 | **Seaford Consulting** Crimson Phoenix \[Godspeed Capital\] | - | - | - | Bristow, VA | Government Services, IT Services and Software | | 3 | **Tekmasters** Crimson Phoenix \[Godspeed Capital\] | - | - | - | Arlington, VA | Government Services, IT Services and Software | | 4 | **Cast-Rite Corporation** ADC Aerospace | - | - | - | Gardena, CA | Machined & Cast Parts | | 5 | **Juno Technologies** Sigma Defense Systems \[Sagewind Capital\] | - | - | - | San Diego, CA | Government Services, IT Services and Software | | 6 | **Adimec** Teledyne Technologies | - | - | - | Eindhoven, Netherlands | Defense Electronics | | 7 | **Silent Sentinel** Motorola Solutions | - | - | - | Ware, United Kingdom | Defense Electronics | | **No.** | **Target Descriptions** | | --- | --- | | 1 | Global Training Aviation is a provider of simulation systems and training programs for private sector and international government aeronautical markets. The company has training centers in 3 continents (Spain, Indonesia and Colombia) equipped with 6 latest generation level D Full Flight Simulators, (ATR 72 500, ATR 72 600, B737 NG & 3 Airbus 320). | | 2 | Seaford Consulting is a provider of full-systems lifecycle, integrated business, mission & IT solutions for private sector and U.S. federal government markets. The company's services include business intelligence and transformation; project and program management; systems and enterprise architecture; information security; AWS & cloud architecture; and ITIL based IT service management. | | 3 | Tekmasters is a provider of "zero failure" classified IT mission support solutions for private sector and U.S. federal government intelligence markets. The company's services include learning development; mission operations; data forensics; customized application development; IT systems engineering and implementation; AWS/Azure/cloud; security and patch management. | | 4 | Cast-Rite is a provider of advanced die casting and fabrication solutions. The company manufactures zinc and aluminum alloy die castings, as well as offer services, such as engineering, tooling and fabrication, and other value-added operations to serve a wide spectrum of defense, electronics, and commercial applications. | | 5 | Juno Technologies is a provider of IT engineering, software development and technical support to U.S. federal government aerospace, defense, and naval markets. The company's services include Systems Integration; Fleet Systems Engineering Team (FSET); Fleet IT Support/Sustainment/SubLAN; Space and Naval Warfare (SPAWAR) Program Office; Foreign Military Sales (FMS); and Flyaway Kits (FAK). | | 6 | Adimec is a manufacturer of customized high-performance industrial and scientific cameras for private sector and international government machine vision, healthcare, and global security markets. The company's cameras and lens assemblies deliver true accurate images and are manufactured in batches ranging from 50-500 per year. | | 7 | Silent Sentinel is a manufacturer of advanced and highly modular surveillance camera platforms for land and maritime surveillance applications in private sector, U.S. federal government, and international government markets. Designed to operate in the harshest conditions, the company's rugged, thermal cameras offer clear visibility in complex and extreme environments. | ### 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/02-19-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+7) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/02-19-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+7) [Share on 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