A&D Weekly News & Transactions - Week 17

Industry Headline News

Boeing Boosts 737 MAX Production Despite Tariff Tensions and Chinese Order Freeze
Apr. 23, 2025 - Boeing announced it will increase production of its 737 MAX aircraft despite ongoing trade tensions with China, where orders remain stalled. The company plans to raise production from 38 to 47 aircraft per month by late 2025, citing robust demand from airlines in India, the Middle East, and other regions. Executives remain optimistic that global demand will sustain higher production rates even without new Chinese contracts. (Aerospace America)

Amentum to Sell Rapid Solutions Business to Lockheed Martin for $360 Million
Apr. 23, 2025 - Amentum announced it has entered into a definitive agreement to sell its Rapid Solutions product business to Lockheed Martin for $360 million in cash. Rapid Solutions is a manufacturer of products aligned to national security missions. Proceeds from the sale will be used to support strategic investments and reduce debt, with the transaction expected to close later in 2025. (Business Wire)

Spirit AeroSystems’ Chief Engineer to Lead Wichita Site Following Boeing Acquisition
Apr. 22, 2025 - Boeing agreed earlier this year to acquire Spirit AeroSystems in a deal valued at approximately $8.3 billion, aimed at vertically integrating critical aerostructures production. The leadership move is intended to ensure continuity and operational alignment after the transaction closes, expected later in 2025. (Reuters)

Thoma Bravo Nears Acquisition of Boeing’s Jeppesen Unit for $10.6B
Apr. 22, 2025 - Private equity firm Thoma Bravo is nearing a deal to acquire portions of its Digital Aviation Solutions business, including navigation unit Jeppesen, to private equity firm Thoma Bravo for $10.55 billion. The sale price valued Jeppesen at roughly 16 times its 2025 EBITDA. Thoma Bravo won the Jeppesen auction, edging out rival buyout firms such as TPG, Advent and Veritas. (Reuters)

JetZero Factory Project Could Bring 10,000 Jobs to Greensboro’s PTI Airport
Apr. 22, 2025 - Piedmont Triad International Airport in Greensboro, North Carolina, has been named a finalist to host JetZero’s new manufacturing facility, which could create up to 10,000 jobs. JetZero, a startup developing blended-wing body aircraft, is seeking a site for producing its next-generation, fuel-efficient planes. A final decision on the factory location is expected later this year, potentially offering a major economic boost to the selected region. (WFMY News 2)

Northrop Grumman’s B-21 Raider Stealth Bomber Program Faces Rising Costs
Apr. 19, 2025 - Northrop Grumman’s B-21 Raider stealth bomber program is facing notable cost increases due to inflation and persistent supply chain disruptions. Although specific revised cost figures were not disclosed, Pentagon officials emphasized that the cost growth is manageable within the broader defense budget. The B-21 program remains a central part of the U.S. Air Force’s next-generation strategic deterrence strategy. (The War Zone)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	Rosen Aviation Mid Continent Controls [HEICO]	-	-	-	Eugene, OR	Components & Subsystems
2	Portions of the Digital Aviation Solutions of Boeing [Boeing] Thoma Bravo	$10,550.0	-	16.0x	Englewood, CO	Controls & Systems
3	3P Processing [Spell Capital] Littlejohn Capital	-	-	-	Wichita, KS	Machined & Cast Parts
4	Rapid Solutions business of Amentum [Amentum] Lockheed Martin	$360.0	3.7x	NM	Dallas, TX	Sensors & C4ISR
5	Expeditionary Engineering Ultra Intelligence & Engineering [Advent International]	-	-	-	San Diego, CA	Defense Electronics
6	Electronic Components Omni-Lite	$0.4	-	-	Framingham, MA	Distribution
7	FairTech Foxsemicon Integrated Technology	$120.8	-	-	Hsinchu City, Taiwan	Defense Electronics
8	Atomos Space Katalyst Space Technologies	-	-	-	Westminster, CO	Satellite, Satellite Services & Space Systems
9	Edmonton facility of North Cariboo Air [North Cariboo Air] Nolinor Aviation	-	-	-	Edmonton, Canada	MRO & Logistics

No.	Target Descriptions
1	Rosen Aviation is a manufacturer of in-flight entertainment systems and cabin electronics, specializing in custom display solutions, cabin management systems, and immersive audio-visual technologies. The company offers a range of products including 4K OLED displays, touchscreen control panels, and integrated CMS platforms for business, VIP, and commercial aircraft.
2	Portions of the Digital Aviation Solutions include Boeing's Jeppesen, ForeFlight, AerData and OzRunways operations. The assets assist pilots and flight departments plan flights, increase flight safety and efficiency and are widely used across personal, corporate, air transport, and government operations. The assets also provide computerized flight planning, aviation information management, weather and navigation data, maintenance information, pilot training systems and supplies.
3	3P Processing is a full service provider of metal finishing, testing and inspection process services to the aerospace & defense sector, specializing in complex geometric and high-precision parts. The company is ITAR compliant and NADCAP accredited for chemical processing, surface enhancement, aerospace quality, and nondestructive testing.
4	The Rapid Solutions business of Amentum is a developer of mission-critical hardware systems specializing in airborne and space intelligence, surveillance, reconnaissance (ISR), advanced communications, and tactical technologies. The company provides multi-domain solutions for national security applications, including electronically steered arrays and integrated ISR platforms.
5	Expeditionary Engineering is a provider of Software Programmable Open Systems Compliant (SPOC) 3U VPX technology for airborne, expeditionary, and remote operations in private sector and U.S. federal government aerospace and defense markets. The company's hardware platforms provide critical infrastructure for tactical edge software applications across aircraft, ground vehicles, and operations centers while maintaining stringent SWaP requirements.
6	Electronic Components is a specialty distributor and authenticator of electronic components, focusing on military, aerospace, medical, and industrial markets. The company offers legacy component sourcing, authenticity verification, and custom engineering solutions for obsolete systems.
7	FairTech Corporation is a provider of technical services and maintenance for semiconductor processing and aerospace equipment, specializing in the repair of RF generators, DC power supplies, and other critical systems. The company also develops shipborne unmanned aerial vehicles (UAVs) and offers component-level support for defense and industrial clients.
8	Atomos develops orbital transfer vehicles which perform orbit-raising, precision insertion, phasing, and plane change services for satellites in private sector and U.S. federal government aerospace and defense markets. The company's flagship OTV, Quark, combines solar electric propulsion and novel robotics to provide relocation, life extension, orbit raising, and payload delivery missions from LEO through to cislunar space.
9	The 41,600-square-foot Edmonton facility of North Cariboo Air features a passenger terminal, offices, workshops, and a 30,000-square-foot hangar. This site will serve as the regional hub for Nolinor’s operations, particularly supporting the expanding Fly-in Fly-out (FIFO) programs.