--- title: A&D Weekly News & Transactions - Week 25 description: The JCP A&D Weekly Report from Monday, June 24th, 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%2025%20(6.24.24).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/06-24-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+25) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/06-24-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+25) [Share on LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https://blog.janescapital.com/weekly-ad-news-transactions/06-24-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+25) # A&D Weekly News & Transactions - Week 25 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%2025%20(6.24.24).png)   ### Industry Headline News ![Boeing\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Boeing_Logo.png?width=3840&height=3840&name=Boeing_Logo.png) **U.S. prosecutors recommend that the Justice Department criminally charge Boeing for breaching a 2021 settlement agreement related to two fatal 737 MAX crashes** *Jun. 23, 2024 -* With a decision due by July 7, the company could face new charges, an extended settlement, or stricter terms, while victims' families urge a $25 billion fine and prosecution. Boeing disputes the breach, maintaining it has complied with the settlement terms. [(Reuters)](https://www.reuters.com/legal/us-prosecutors-recommend-doj-criminally-charge-boeing-deadline-looms-2024-06-23/) U.S. prosecutors recommend that the Justice Department criminally charge Boeing for breaching a 2021 settlement agreement related to two fatal 737 MAX crashes Jun. 23, 2024 - With a decision due by July 7, the company could face new charges, an extended settlement, or stricter terms, while victims' families urge a $25 billion fine and prosecution. Boeing disputes the breach, maintaining it has complied with the settlement terms. (Reuters) ![Lockheed\_Martin\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Lockheed_Martin_Logo.jpg?width=1134&height=1134&name=Lockheed_Martin_Logo.jpg) **Amid a leadership reshuffle at Lockheed Martin, Richard Benton has replaced Paul Lemmo as the head of Sikorsky, with Benton transitioning from overseeing Lockheed's training and logistics division** *Jun. 21, 2024 -* Lemmo now leads Lockheed’s integrated warfare systems and sensors unit. Benton takes charge at a critical juncture for Sikorsky, which is focusing on innovative projects like a new "rotor-blown-wing" UAV design while maintaining strong demand for its existing rotorcraft, including the UH-60 Black Hawk and CH-53K King Stallion. [(Flight Global)](https://www.flightglobal.com/helicopters/new-leadership-at-sikorsky-amid-lockheed-leadership-shuffle/158850.article) Amid a leadership reshuffle at Lockheed Martin, Richard Benton has replaced Paul Lemmo as the head of Sikorsky, with Benton transitioning from overseeing Lockheed's training and logistics division Jun. 21, 2024 - Lemmo now leads Lockheed’s integrated warfare systems and sensors unit. Benton takes charge at a critical juncture for Sikorsky, which is focusing on innovative projects like a new "rotor-blown-wing" UAV design while maintaining strong demand for its existing rotorcraft, including the UH-60 Black Hawk and CH-53K King Stallion. (Flight Global) ![Boeing\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Boeing_Logo.png?width=3840&height=3840&name=Boeing_Logo.png) **Boeing is close to a deal to repurchase Spirit AeroSystems after the supplier made progress in separate talks with Airbus to resolve issues over its work for both companies** *Jun. 20, 2024 -* The deal's timing remains uncertain, but it could be finalized within days or weeks. Spirit Aero posted a significant Q1 net loss, which, along with safety and quality concerns, has driven Boeing's interest in regaining control of the supplier. [(Reuters)](https://www.reuters.com/markets/deals/boeing-nearing-deal-with-supplier-spirit-aero-after-months-talks-sources-say-2024-06-20/) Boeing is close to a deal to repurchase Spirit AeroSystems after the supplier made progress in separate talks with Airbus to resolve issues over its work for both companies Jun. 20, 2024 - The deal's timing remains uncertain, but it could be finalized within days or weeks. Spirit Aero posted a significant Q1 net loss, which, along with safety and quality concerns, has driven Boeing's interest in regaining control of the supplier. (Reuters) ![Honeywell\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Honeywell_Logo.png?width=500&height=500&name=Honeywell_Logo.png) **Honeywell is acquiring CAES Systems for $1.9 billion to focus on automation, future aviation, and energy transition under CEO Vimal Kapur** *Jun. 20, 2024 -* Expected to close in late 2024, marks Honeywell's third deal this year and aligns with increased defense orders due to global conflicts. The deal will augment Honeywell's aerospace offerings and is projected to positively impact earnings and expand its skilled workforce. [(Reuters)](https://www.reuters.com/markets/deals/honeywell-strikes-2-bln-deal-buy-aerospace-defence-firm-caes-systems-wsj-reports-2024-06-20/) Honeywell is acquiring CAES Systems for $1.9 billion to focus on automation, future aviation, and energy transition under CEO Vimal Kapur Jun. 20, 2024 - Expected to close in late 2024, marks Honeywell's third deal this year and aligns with increased defense orders due to global conflicts. The deal will augment Honeywell's aerospace offerings and is projected to positively impact earnings and expand its skilled workforce. (Reuters) ![Boeing\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Boeing_Logo.png?width=3840&height=3840&name=Boeing_Logo.png) **Boeing CEO Dave Calhoun faced severe criticism from a Senate panel over significant safety and quality control** *Jun. 18, 2024 -* Calhoun, who plans to step down by year-end, defended the company's efforts to improve its safety culture amidst allegations of retaliation against employees reporting concerns.[(CNBC)](https://www.cnbc.com/2024/06/18/boeing-ceo-dave-calhoun-senate-hearing.html) Boeing CEO Dave Calhoun faced severe criticism from a Senate panel over significant safety and quality control Jun. 18, 2024 - Calhoun, who plans to step down by year-end, defended the company's efforts to improve its safety culture amidst allegations of retaliation against employees reporting concerns.(CNBC) ![Embraer\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Embraer_Logo.png?width=500&height=500&name=Embraer_Logo.png) **Despite rumors of a new narrowbody aircraft, Embraer's CEO confirmed there are no concrete plans for such a development** *Jun. 18, 2024 -* Embraer's shorter lead times for E-Jet deliveries make it an attractive option for airlines needing to rapidly add capacity compared to the lengthy backlogs faced by Airbus and Boeing. [(Simple Flying)](https://simpleflying.com/embraer-narrowbody-no-plans-add-capacity-e-jet/) Despite rumors of a new narrowbody aircraft, Embraer's CEO confirmed there are no concrete plans for such a development Jun. 18, 2024 - Embraer's shorter lead times for E-Jet deliveries make it an attractive option for airlines needing to rapidly add capacity compared to the lengthy backlogs faced by Airbus and Boeing. (Simple Flying) ### Weekly Transaction Review | **No.** | **Parties Involved** | **Transaction Metrics** | **Location** | **Segment** | | | | --- | --- | --- | --- | --- | --- | --- | | | **Target \[Parent\]** Acquirer \[Parent\] | Price ($M) | Price/ Revenue | Price/ EBITDA | Target | Target | | 1 | **Nordic Drones** Patria | - | - | - | Muurame, Finland | Unmanned Vehicles | | 2 | **Stellar Blu Solutions**Gilat Satellite Networks | $245.0 | 1.6x | - | Dallas, TX | Satellite, Satellite Services & Space Systems | | 3 | **Sypros IT Consulting** Synergy ECP \[Falfurrias Capital\] | - | - | - | Columbia, MD | Cybersecurity, Intelligence Services and Homeland Defense | | 4 | **Cobham Advanced Electronic Solutions \[Advent\]** Honeywell | $1,900.0 | - | 14.0x | Arlington, VA | Defense Electronics | | 5 | **Mannarino Systems & Software** Scalian \[Wendel\] | - | - | - | Saint-Laurent, Canada | Government Services, IT Services and Software | | **No.** | **Target Descriptions** | | --- | --- | | 1 | Nordic develops and manufactures unmanned aerial systems for private sector and international government homeland security markets. The company's products are used in various authority use in the security sector as well as data collection, mapping, measurement and inspection tasks. | | 2 | Stellar Blu develops and manufactures next-generation specialized connectivity, network, and electronics solutions for private sector and U.S. federal government aerospace and satellite network markets. The company works in conjunction with Ball Aerospace, Thinkom and Kontron to offer a suite of satellite communications terminals for business jets and the world's leading airlines. | | 3 | Spyros is a provider of cyber operation solutions for private sector and U.S. federal government markets. The company provides core capabilities in computer network operations, critical infrastructure resiliency, next generation 5G technology, signals intelligence, and special programs support to the Nation's most sensitive and technical endeavors. | | 4 | CAES provides systems that move data through off-the-shelf and customized products including RF, microwave, and high reliability microelectronics, antenna subsystems and motion control. CAES provides Electronic Attack (EA), Electronic Protection (EP), and Electronic Warfare Support (EP) capabilities specifically designed and built for air, land and maritime operations. | | 5 | Mannarino provides design, verification and validation of critical systems and software, including Full Authority Digital Engine Controls (FADEC), avionics, Health and Usage Monitoring Systems (HUMS), Ground Support Equipment (GSE) software, aerial refuelling systems, Unmanned Aerial Vehicles (UAV) and industrial engine controls. | ### 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 Load More Transactions 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/06-24-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+25) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/06-24-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+25) [Share on LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https://blog.janescapital.com/weekly-ad-news-transactions/06-24-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+25) [![Janes-Capital-Partners-25th-Year-Anniversary](https://blog.janescapital.com/hs-fs/hubfs/25-Year-White.png?width=100&height=81&name=25-Year-White.png "Janes-Capital-Partners-25th-Year-Anniversary")](https://www.janescapital.com/) ##### Janes Capital Partners, Inc. 100 Spectrum Center Drive, Suite 460 Irvine, CA 92618 [(949) 769-3323](tel:9497693323) About Us - [Who We Are](https://www.janescapital.com/who-we-are) - [Our Services](https://www.janescapital.com/aerospace-defense-advisory-services) - [Our Team](https://www.janescapital.com/our-team) - [Our History](https://www.janescapital.com/who-we-are#our-history) - [Our Approach](https://www.janescapital.com/who-we-are#our-approach) - [Testimonials](https://www.janescapital.com/testimonials) 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) - [Client Case Studies](https://blog.janescapital.com/case-studies) News & Events - [Recent Transactions](https://www.janescapital.com/successful-aerospace-defense-ma-transactions) - [Upcoming Events](https://www.janescapital.com/aerospace-defense-conferences-networking-events) - [News & Past Events](https://blog.janescapital.com/news-events) Resources - [Connect with a Banker](https://www.janescapital.com/schedule-a-meeting-1#connect) - [General Inquiries](https://www.janescapital.com/contact-us) - [Privacy Policy](https://www.janescapital.com/privacy-policy) - [Business Continuity](https://www.janescapital.com/business-continuity-plan) [![janes-capital-parnters-oaklins-member-firm](https://blog.janescapital.com/hs-fs/hubfs/oaklins_white.png?width=146&height=60&name=oaklins_white.png)](https://www.oaklins.com/us/en/industry/aerospace-defense-security/)   Copyright © 2021 - 2026 Janes Capital Partners, Inc. & JCP Securities, Inc.   Securities offered through JCP Securities, Inc., Broker/Dealer, Member [FINRA](https://brokercheck.finra.org/firm/summary/140318) and [SIPC.](https://www.sipc.org/) Additional information regarding the investment professionals at Janes Capital Partners may be found using [FINRA's BrokerCheck](https://brokercheck.finra.org/). ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Stephen Perry", "url" : "https://blog.janescapital.com/weekly-ad-news-transactions/author/stephen-perry" }, "dateModified" : "2024-06-26T11:34:31.496Z", "datePublished" : "2024-06-24T20:42:37.000Z", "headline" : "A&D Weekly News & Transactions - Week 25", "image" : [ "https://blog.janescapital.com/hubfs/Weekly%20AD%20-%20New/A&D%20Weekly%20Recap%20-%20Week%2025%20(6.24.24).png" ], "mainEntityOfPage" : { "@id" : "https://blog.janescapital.com/weekly-ad-news-transactions/06-24-2024", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.janescapital.com/hubfs/JCP-Logo-Color.png" }, "name" : "Janes Capital Partners, Inc" } } ```