A&D Weekly News & Transactions - Week 12

Industry Headline News

President Trump awarded Boeing the contract for the NGAD fighter jet program, naming it the F-47 and marking a major win for the struggling company over Lockheed Martin
Mar. 21, 2025 - The deal, worth over $20 billion, is expected to generate hundreds of billions in future orders, boosting Boeing’s fighter jet production while dealing a setback to Lockheed, which recently lost other key defense contracts. Boeing shares rose 5% following the announcement, while Lockheed's fell nearly 7%, with officials emphasizing the F-47’s advanced capabilities and cost-effectiveness compared to the F-22. (Yahoo! News)

Bell Textron has approved GE Aerospace's next-generation Rotor Analysis Diagnostic System for use across its commercial helicopter fleet
Mar. 21, 2025 - RADS-NG replaces older systems, offering enhanced vibration monitoring to improve component longevity and passenger comfort. Already deployed with Henley Air and Bell facilities, the system provides a faster, more flexible solution for rotor track and balance across various aircraft, including military and eVTOL models. (Forecast International)

The U.S. Army has chosen Anduril Industries to develop a 4.75-inch solid rocket motor for long-range precision artillery, aiming to increase firepower capacity in HIMARS launch pods
Mar. 20, 2025 - Anduril's ALITEC propellant is expected to enhance performance, range, and efficiency. The project is backed by a $14.3 million Defense Production Act award and a $75 million company investment. (Reuters)

Boeing shares rose nearly 7% after CFO Brian West gave an optimistic outlook, stating that cash burn is easing and production improvements are underway
Mar. 19, 2025 - The company aims to ramp up aircraft output despite past financial losses, safety crises, and regulatory limits on 737 Max production. West also downplayed concerns over tariffs and noted that a recent factory fire would not significantly impact near-term production goals. (CNBC)

Safran has offered to sell its North American electromechanical actuation business to address EU concerns over its $1.8B bid for Collins Aerospace’s flight controls unit
Mar. 19, 2025 - The European Commission is reviewing the proposal, seeking feedback from competitors and customers before deciding on further steps. Safran previously agreed to sell the unit to Woodward, expecting the deal to close by mid-2025. (Reuters)

Trump’s tariffs on aluminum, steel, and North American trade could significantly raise costs for Boeing and its aerospace suppliers, disrupting a long-standing duty-free supply chain
Mar. 19, 2025 - Industry leaders warn that these tariffs, expected to cost around $5 billion annually, may further strain manufacturers already facing material and labor shortages. While Boeing expects limited direct impact, smaller suppliers could struggle, potentially affecting aircraft production and global competitiveness. (NYT)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	McCormick Stevenson Repkon USA Holdings [Repkon]	-	-	-	Clearwater, FL	Engineering and Project Management
2	Defense Solutions Division of Crescend Technologies [Crescend Technologies] Frontgrade Technologies [Veritas Capital]	-	-	-	York, PA	Defense Electronics
3	Blue Marble Communications T2S [Madison Dearborn]	-	-	-	Poway, CA	Satellite, Satellite Services & Space Systems
4	Mannakee Group Redhorse Corporation	-	-	-	Kensington, MD	Government Services, IT Services and Software
5	Fabrisonic United Performance Metals [O'Neal Industries]	-	-	-	Lewis Center, OH	Machined & Cast Parts
6	Clearwater Engineering Precision Aerospace Holdings [CIC Partners & Juniper Capital]	-	-	-	Derby, KS	Machined & Cast Parts
7	Intrepid Systems Planning & Analysis [Arlington Capital]	-	-	-	Huntsville, AL	Government Services, IT Services and Software
8	Assets of Aerialtronics [Aerialtronics] Destinus	-	-	-	Valkenburg, Netherlands	Unmanned Vehicles
9	Percival Aviation Jet Parts Engineering [Vance Street Capital]	-	-	-	Fareham, United Kingdom	MRO & Logistics

No.	Target Descriptions
1	McCormick Stevenson provides mechanical engineering and design services, specializing in the development and production of armament systems for defense and aerospace sectors. The company offers expertise in structural analysis, thermal analysis, and system engineering to support the development and production of armament systems.
2	The Defense Solutions Division of Crescend Technologies specializes in designing, developing, and manufacturing SWaP-C solid state, high-power RF amplifiers and amplifier-based subsystems. The division's products cover frequency bands from HF to SHF and support various Department of Defense tactical missions, including electronic warfare, communications, and tactical data link.
3	Blue Marble Communications is a provider of space-qualified communications and computing technologies for private sector and U.S. federal government aerospace markets. The company designs and manufactures high-performance RF, free-space optical, and network communications modules and systems for deployment onboard satellites and other space vehicles.
4	Mannakee Group specializes in advanced software development and DevSecOps practices, focusing on business process design, automation, and re-engineering for government clients. The company offers expertise in custom web development, enterprise architecture, and technical training to support critical Department of Defense missions.
5	Fabrisonic specializes in ultrasonic additive manufacturing (UAM), enabling the production of complex metal components with embedded sensors, cooling channels, and multi-material layers. The company serves aerospace, defense, and industrial markets with advanced manufacturing solutions that enhance structural performance and design flexibility.
6	Clearwater Engineering provides precision machining and assembly services, specializing in CNC milling, mill/turn, and Swiss lathe machining of materials like titanium, stainless steel, and aluminum. The company supports both commercial and government aerospace sectors, offering advanced engineering services, including CATIA V5 and Vericut for programming, modeling, and tool path simulation
7	Intrepid is a provider of systems engineering and technical assistance (SETA) services for private sector and U.S. federal government aerospace, defense, enterprise, missile defense, and mission support markets.
8	The Assets of Aerialtronics include advanced drone technology, sensor integration, and AI-driven analytics for commercial and defense applications. The aseets provide unmanned aerial solutions for inspections, surveillance, and data collection across telecommunications, security, and infrastructure markets.
9	Percival Aviation provides maintenance, repair, and overhaul (MRO) services for aircraft interiors and associated equipment, including decorative plating and custom color anodizing for bespoke VIP interior components.