A&D Weekly News & Transactions - Week 15

Industry Headline News

Spain has officially inducted its first Airbus A330 MRTT multi-role tanker and transport aircraft into service with the 45th Wing
Apr. 11, 2025 - Based at Torrejón de Ardoz Air Base, the aircraft—converted in Getafe—can carry 300 troops or 45 tonnes of cargo, and fly over 18 hours without refueling. Two more A330 MRTTs are currently undergoing conversion, with the platform offering strategic autonomy and interoperability with allied forces. (ASD News)

SpaceX will launch its next uncrewed Dragon cargo mission, CRS-32, to the International Space Station on April 21 at 4:15 a.m. EDT
Apr. 10, 2025 - They’ll be carrying supplies, scientific experiments, and advanced technology like atomic clocks and air quality monitors. The mission supports ongoing ISS operations and future Moon and Mars exploration. While SpaceX continues its routine resupply role, Northrop Grumman’s next Cygnus launch is delayed due to spacecraft damage. (Space.com)

Over the next five years, the Marine Corps plans to modernize its aviation capabilities with an all-fifth-generation F-35 fleet
Apr. 9, 2025 - The service will complete procurement of 95 KC-130J cargo planes and grow its F-35 squadrons to 18 active and 2 Reserve units, shifting toward more carrier-based F-35Cs. These efforts aim to enhance expeditionary operations with scalable support, data-enabled maintenance, and improved command and control. (Defense News)

Executive Branch of the United States of America

President Trump signed an executive order aimed at streamlining U.S. weapons export rules to make it easier for defense firms to sell arms abroad, citing inefficiencies in the current approval process
Apr. 9, 2025 - The order is expected to benefit major contractors like Lockheed Martin, RTX, and Boeing, while also reducing congressional oversight over foreign military sales. Additionally, Trump ordered a broad review of Pentagon procurement programs to modernize and improve cost-efficiency. (Reuters)

Leonardo has firmly denied claims that its M-346 jet trainer is Russian-designed
Apr. 9, 2025 - The controversy arose after British tabloids linked the M-346 to Russia amid speculation it could replace the U.K.’s Red Arrows jets, prompting political reassurances against any Russian influence. Leonardo clarified that although the M-346 shares a visual resemblance with Yakovlev’s Yak-130, its systems, technology, and development were independently and completely redesigned in Italy. (Defense News)

RTX’s Pratt & Whitney has introduced an additive manufacturing repair process for its GTF engine components, cutting repair time by over 60%
Apr. 8, 2025 - This comes as the company addresses issues with GTF engines that have grounded hundreds of planes during inspections for potentially faulty parts. (AIAA)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	Safety Management Solution Business of Rolls-Royce [Rolls-Royce] Comply365 [Liberty Hall Capital]	-	-	-	Wellington, New Zealand	Government Services, IT Services and Software
2	Bugeye Technologies J.F. Taylor	-	-	-	Union, MO	Simulation & Training Systems
3	MGR Foamtex Insperial	-	-	-	Thame, United Kingdom	Aircraft Interiors
4	Space Vector Fisica [Kanders & Co.]	-	-	-	Chatsworth, CA	Satellite, Satellite Services & Space Systems
5	Candent Technologies Bascom Hunter Technologies	-	-	-	Greenfield, IN	Engines & Engine Systems
6	Cima Aviation Jet Parts Engineering [Vance Street Capital]	-	-	-	Doral, FL	MRO & Logistics
7	The Av8 Group Victor Sierra Aviation [Vance Street Capital]	-	-	-	Houston, TX	MRO & Logistics

No.	Target Descriptions
1	The SMS business of Rolls-Royce specializes in safety and risk management solutions which are designed to capture vital safety, compliance and risk data in a consistent and connected way. The business' solutions are used by 90 operators in 45 countries.
2	Bugeye is a developer and manufacturer of flight simulation hardware and custom electro-mechanical assemblies for private sector and U.S. federal government aerospace and defense markets. The company specializes in flight controls, ground vehicle controls, avionics, displays, light panels, ejection seats, rudder pedals, cockpits and control loading for rotary wing aircraft including AH-64, H-60, and H-47, and fixed wing aircraft such as the F-16, F-22, and F-35.
3	MGR Foamtex is a manufacturer of advanced passenger upholstery systems for commercial aircraft, specializing in lightweight, certified interior solutions such as MGRSoftWall®, MGRSoftWall® NextGen, and MPS Hybrid. The company serves airlines, seat manufacturers, and design agencies across Europe.
4	Space Vector is a provider of components, systems, and launch vehicle solutions to private sector and U.S. federal government aerospace, defense, and space exploration markets. The company is a key subcontractor to Lockheed Martin and Boeing for a variety of products and services.
5	Candent is a developer of propulsion and power systems for private sector and U.S. federal government aerospace and defense markets. The company specializes in the design, development, qualification and certification, management, production, and support of microturbines up to 250 kW; small gas turbines in the 300 kW (400 hp) to 2,000 kW (2,750 hp) size class; waste heat energy recovery systems up to 5.0 MW; small heavy fuel reciprocating engines up to 15kW; and waterjet propulsion systems for small planing craft, USV and UUV.
6	Cima Aviation is an FAA/EASA‑approved repair station specializing in maintenance and overhaul of aircraft fuel accessories, avionics, pneumatic, hydraulic, and electro‑mechanical units. The company serves domestic and international customers with comprehensive services for fuel metering units, hydro‑mechanical units, fuel controls, main engine controls, APU accessories, and boost pumps.
7	The Av8 Group is a provider of MRO services and FAA-PMA parts for business and regional aircraft, specializing in landing gear overhaul, component repair, and certified aftermarket solutions for platforms such as the Embraer Phenom and Hawker series. The company offers fixed-price landing gear programs and in-house engineering capabilities, including reverse engineering, 3D scanning, and additive manufacturing.