A&D Weekly News & Transactions - Week 13

Industry Headline News

BOC Aviation will purchase 120 single-aisle aircraft—70 Airbus A320neo and 50 Boeing 737 MAX 8—to expand its fleet
Mar. 30, 2025 - The Singapore-based lessor, majority-owned by Bank of China, aims to reach 1,000 aircraft by the end of the decade. (Reuters)

Boeing has secured a $20B Pentagon contract to develop the F-47 stealth fighter under the NGAD program, marking its first major stealth fighter win over Lockheed Martin
Mar. 30, 2025 - Despite Boeing's history of production challenges, the cost-plus contract ensures profitability, with development costs potentially exceeding $50 billion and the first aircraft expected by 2029. This deal could accelerate Boeing’s financial recovery, reversing previous speculation that it might sell its defense division. (Yahoo! Finance)

Several private equity firms and aerospace companies are competing to acquire Boeing's Jeppesen navigation unit, valued at $8-$9B
Mar. 28, 2025 - The deal, part of Boeing's strategy to streamline its operations and reduce debt, is expected to be one of the largest carve-out transactions in recent memory. Jeppesen, a key player in navigation software, is a sought-after asset that could complement aerospace contractors' operations or private equity firms' portfolios. (Reuters)

The U.S. government has approved a potential $1.96B sale of eight MQ-9B drones, along with missiles, bombs, and support equipment, to Qatar
Mar. 27, 2025 - The deal aims to enhance Qatar’s security and intelligence capabilities, though it remains subject to negotiation and potential congressional intervention. This announcement follows years of delays and signals renewed momentum in U.S. arms sales to the region. (Breaking Defense)

Collins Aerospace is laying off 119 workers in Chula Vista, primarily affecting corporate roles, as part of a global effort to cut costs and streamline operations
Mar. 26, 2025 - The layoffs take effect on May 12 and follow similar workforce reductions at other locations, including Cedar Rapids, Iowa. The company, a subsidiary of RTX Corporation, aims to reinvest in high-priority aerospace programs while continuing to supply major components for Boeing, Airbus, and military aircraft. (The San Diego Union Tribune)

General Anthony J. Cotton, head of U.S. Strategic Command, has called for the production of 145 B-21 Raider bombers
Mar. 25, 2025 - The U.S. Air Force plans to purchase 100 Raiders, but Cotton believes this number is insufficient for long-term defense needs. While discussing delays in key defense programs like the Sentinel ICBM and Columbia-class submarines, Cotton stressed the importance of timely production to maintain the U.S. military's capabilities. (National Interest)

The U.S. Navy is set to announce the winner of its F/A-XX next-generation stealth fighter contract this week, with Boeing and Northrop Grumman as the top contenders
Mar. 25, 2025 - The program, aimed at replacing the F/A-18E/F Super Hornet, is a key part of U.S. military strategy against China and could be worth hundreds of billions over its lifetime. The new fighter will feature advanced stealth, extended range, and integration with uncrewed aircraft, with initial deployments expected in the 2030s. (Reuters)

Korean Air finalized a $24.9B deal with Boeing for 50 new aircraft and a $7.8B contract with GE Aerospace for jet engines and maintenance
Mar. 24, 2025 - The agreement, part of a strategic fleet expansion, aims to enhance efficiency and capacity while strengthening U.S.-South Korea ties. The airline also unveiled a new livery following its merger with Asiana, making it Asia’s second-largest carrier by capacity. (Yahoo! Finance)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	Votaw Precision Technologies [Doerfer] Cerberus Capital	-	-	-	Santa Fe Springs, CA	Machined & Cast Parts
2	Transwest Helicopter McDermott Aviation	-	-	-	Chilliwack, Australia	MRO & Logistics
3	Shearer & Associates RMC Global	-	-	-	Huntsville, AL	Cybersecurity, Intelligence Services and Homeland Defense
4	Corru-Seals Private Buyer	-	-	-	Wallingford, CT	Machined & Cast Parts
5	Roka Security Nightwing Group	-	-	-	Herndon, VA	Cybersecurity, Intelligence Services and Homeland Defense
6	Lulav Space ParaZero Technologies	-	-	-	Haifa, Israel	Sensors & C4ISR
7	Swoop Aero Kite Aerospace	-	-	-	Melbourne, Australia	Unmanned Vehicles
8	Cross-Check Aviation Sunvair Aerospace [Greenbriar Equity]	-	-	-	Reno, NV	MRO & Logistics

No.	Target Descriptions
1	Votaw Precision Technologies is a provider of precision machining, tooling, and fabrication services for private sector and U.S. federal government aerospace and defense markets. The company is ISO 9001:2015 and AS9100D certified for design engineering, precision machining, fabrication, and assembly of flight hardware, large precision tooling, and ground support equipment.
2	Transwest Helicopters provides helicopter maintenance, repair, and overhaul services for commercial and utility operators. The company specializes in airframe inspections, component repairs, and custom modifications to support diverse mission requirements.
3	Shearer is an architectural/engineering firm specializing in facility and security systems engineering solutions for private sector and U.S. federal government critical infrastructure and defense markets. The company's solutions include technical and programmatic services for electronic and physical security systems, energy management and control systems, construction management, and program and project management.
4	Corru-Seals manufactures precision metal seals and sealing solutions for aerospace, defense, and industrial applications. The company specializes in designing resilient metal seals, gaskets, and related components for extreme temperature and pressure environments.
5	Roka Security is a boutique security firm specializing in full-scale network protection services for private sector and U.S. federal government defense markets. The company leverages infrastructure as code, data center operations, secure data transport solutions, and niche technical training expertise to safeguard organizations from cyber threats.
6	Lulav Space is a developer of robotics-enabled vision-based precision navigation systems and sensors for private sector and international government space missions. The company offers both space and terrestrial-based sensor products for use on-orbit servicing (OOS), active debris removal (ADR), and planetary precision landing scenarios as well as to support autonomous aerial operations in GPS-denied areas.
7	Swoop Aero develops drone logistics networks for medical, commercial, and aerospace applications. The company provides end-to-end delivery solutions using autonomous aircraft systems designed for efficient, reliable, and scalable operations.
8	Cross-Check Aviation provides aircraft parts, maintenance, and repair services for commercial and military platforms. The company specializes in component overhaul, inventory management, and supply chain solutions.