--- title: A&D Weekly News & Transactions - Week 30 description: The JCP A&D Weekly Report from Monday, July 29th, 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%2030%20(7.29.24).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/07-29-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+30) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/07-29-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+30) [Share on LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https://blog.janescapital.com/weekly-ad-news-transactions/07-29-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+30) # A&D Weekly News & Transactions - Week 30 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%2030%20(7.29.24).png)   ### Industry Headline News ![Bombardier\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Bombardier_Logo.png?width=1000&height=1000&name=Bombardier_Logo.png) **Bombardier is considering reacquiring the Spirit AeroSystems facility in Belfast, which is critical for its jet programs** *July 25, 2024 -* As Spirit AeroSystems plans to sell the plant, Bombardier CEO Éric Martel emphasized the importance of maintaining high standards for existing contracts and expressed interest in potentially buying the facility if necessary. [(AIN)](https://www.ainonline.com/aviation-news/business-aviation/2024-07-25/bombardier-eyes-next-steps-spirit-belfast-plant) Bombardier is considering reacquiring the Spirit AeroSystems facility in Belfast, which is critical for its jet programs July 25, 2024 - As Spirit AeroSystems plans to sell the plant, Bombardier CEO Éric Martel emphasized the importance of maintaining high standards for existing contracts and expressed interest in potentially buying the facility if necessary. (AIN) ![Textron](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Textron.png?width=500&height=500&name=Textron.png) **Textron is close to acquiring Spirit AeroSystems' fuselage program for the V-280 military aircraft, as part of the larger deal where Boeing is buying Spirit's assets** *July 24, 2024 -* This move follows Boeing's $4.7 billion deal to acquire Spirit, with various assets being redistributed, including core activities to Airbus and the V-280 program to Textron. The value of the Textron deal remains unclear, but it is part of a broader strategic shift in Spirit's defense work. [(Reuters)](https://www.reuters.com/business/aerospace-defense/textron-close-buying-spirit-aero-fuselage-program-v-280-military-aircraft-source-2024-07-24/) Textron is close to acquiring Spirit AeroSystems' fuselage program for the V-280 military aircraft, as part of the larger deal where Boeing is buying Spirit's assets July 24, 2024 - This move follows Boeing's $4.7 billion deal to acquire Spirit, with various assets being redistributed, including core activities to Airbus and the V-280 program to Textron. The value of the Textron deal remains unclear, but it is part of a broader strategic shift in Spirit's defense work. (Reuters) ![SAMI](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/SAMI.png?width=500&height=500&name=SAMI.png) **Saudi Arabia's Military Industries Company has signed agreements with Lockheed Martin and Airbus Helicopters to enhance its MRO capabilities for C-130 Hercules aircraft and helicopters** *July 24, 2024 -* This move will position SAMI among the few authorized service centers for C-130 MRO and advance local MRO operations, bolstering Saudi Arabia's defense sector. [(Gulf News)](https://gulfnews.com/business/markets/saudi-arabias-military-industry-signs-agreements-with-lockheed-martin-1.1721830165416) Saudi Arabia's Military Industries Company has signed agreements with Lockheed Martin and Airbus Helicopters to enhance its MRO capabilities for C-130 Hercules aircraft and helicopters July 24, 2024 - This move will position SAMI among the few authorized service centers for C-130 MRO and advance local MRO operations, bolstering Saudi Arabia's defense sector. (Gulf News) ![Russia flag](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Russia%20flag.png?width=500&height=500&name=Russia%20flag.png) **Russia has withdrawn from the joint development of the C929 long-haul airliner with China, a project initially agreed upon in 2014** *July 24, 2024 -* The Commercial Aircraft Corporation of China has confirmed that Russia is no longer involved, with recent airshows and updates omitting any mention of Russian participation. This shift follows Russia's invasion of Ukraine and subsequent international sanctions affecting aviation parts and production. [(Newsweek)](https://www.newsweek.com/russia-quits-china-joint-airliner-project-1929610) Russia has withdrawn from the joint development of the C929 long-haul airliner with China, a project initially agreed upon in 2014 July 24, 2024 - The Commercial Aircraft Corporation of China has confirmed that Russia is no longer involved, with recent airshows and updates omitting any mention of Russian participation. This shift follows Russia's invasion of Ukraine and subsequent international sanctions affecting aviation parts and production. (Newsweek) ![US\_Department\_of\_Defense\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/US_Department_of_Defense_Logo.png?width=523&height=523&name=US_Department_of_Defense_Logo.png) **The US has approved a potential $2.8 billion logistics and sustainment contract for Saudi Arabia, which includes support for various US-made aircraft and associated systems** *July 23, 2024 -* This deal aims to enhance Saudi Arabia's defense capabilities and includes no single prime contractor. While there are potential objections from Congress, the agreement reflects the Biden administration's evolving relationship with Saudi Arabia amid broader regional security and diplomatic efforts. [(Breaking Defense)](https://breakingdefense.com/2024/07/us-approves-2-8-billion-in-logistics-sustainment-for-saudi-arabia/) The US has approved a potential $2.8 billion logistics and sustainment contract for Saudi Arabia, which includes support for various US-made aircraft and associated systems July 23, 2024 - This deal aims to enhance Saudi Arabia's defense capabilities and includes no single prime contractor. While there are potential objections from Congress, the agreement reflects the Biden administration's evolving relationship with Saudi Arabia amid broader regional security and diplomatic efforts. (Breaking Defense) ![Farnborough](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Farnborough.png?width=500&height=500&name=Farnborough.png) **At the Farnborough International Airshow, Airbus sold 69 planes, including significant orders from Japan Airlines and Virgin Atlantic** *July 23, 2024 -* Meanwhile Boeing led with 118, notably securing 20 777X aircraft from Qatar Airways and 20 737 MAX 8 planes from Macquarie AirFinance. Turkish Airlines delayed its anticipated Boeing order due to ongoing engine supplier discussions.[(Forbes)](https://www.forbes.com/sites/marisagarcia/2024/07/23/airbus-sells-69-planes-at-farnborough-but-boeing-still-leads-with-118/) At the Farnborough International Airshow, Airbus sold 69 planes, including significant orders from Japan Airlines and Virgin Atlantic July 23, 2024 - Meanwhile Boeing led with 118, notably securing 20 777X aircraft from Qatar Airways and 20 737 MAX 8 planes from Macquarie AirFinance. Turkish Airlines delayed its anticipated Boeing order due to ongoing engine supplier discussions. (Forbes) ![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 losing over $1b a month due to supply chain issues, leaving around 200 mostly finished jets awaiting parts, some even parked in employee lots** *July 22, 2024 -* Delays in parts, exacerbated by pandemic-induced shortages, have significantly hindered Boeing's ability to deliver planes, contributing to its financial woes and impacting its production and reputation. Despite these challenges, Boeing is actively working to complete and deliver the parked aircraft. [(Independent)](https://www.independent.co.uk/news/world/americas/boeing-plane-parts-supply-chains-chaos-b2586080.html) Boeing is losing over $1b a month due to supply chain issues, leaving around 200 mostly finished jets awaiting parts, some even parked in employee lots July 22, 2024 - Delays in parts, exacerbated by pandemic-induced shortages, have significantly hindered Boeing's ability to deliver planes, contributing to its financial woes and impacting its production and reputation. Despite these challenges, Boeing is actively working to complete and deliver the parked aircraft. (Independent) ![Japan Airlines](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Japan%20Airlines.png?width=500&height=500&name=Japan%20Airlines.png) **Japan Airlines has ordered 10 Boeing 787-9 aircraft worth around $1.47 billion and taken options for 10 more, announced at the Farnborough Airshow** *July 22, 2024 -* JAL is also expected to finalize orders for 21 Airbus A350-800, 11 A321neo, and 10 Boeing 787 jets. [(Reuters)](https://www.reuters.com/business/aerospace-defense/japan-airlines-orders-10-boeing-787-9s-takes-options-10-more-2024-07-22/) Japan Airlines has ordered 10 Boeing 787-9 aircraft worth around $1.47 billion and taken options for 10 more, announced at the Farnborough Airshow July 22, 2024 - JAL is also expected to finalize orders for 21 Airbus A350-800, 11 A321neo, and 10 Boeing 787 jets. (Reuters) ![Korean\_Air\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Korean_Air_Logo.png?width=500&height=500&name=Korean_Air_Logo.png) **Korean Air is set to order around 20 Boeing 777X jets, with an announcement expected at the Farnborough Airshow** *July 22, 2024 -* This deal, first reported by Reuters, marks a significant boost for Boeing's delayed 777X program. The order comes as Boeing faces scrutiny over recent quality issues and follows Korean Air's earlier surprise purchase of Airbus A350 jets. [(Reuters)](https://www.reuters.com/business/aerospace-defense/korean-air-set-order-about-20-boeing-777x-jets-sources-say-2024-07-22/) Korean Air is set to order around 20 Boeing 777X jets, with an announcement expected at the Farnborough Airshow July 22, 2024 - This deal, first reported by Reuters, marks a significant boost for Boeing's delayed 777X program. The order comes as Boeing faces scrutiny over recent quality issues and follows Korean Air's earlier surprise purchase of Airbus A350 jets. (Reuters) ### Weekly Transaction Review | **No.** | **Parties Involved** | **Transaction Metrics** | **Location** | **Segment** | | | | --- | --- | --- | --- | --- | --- | --- | | | **Target \[Parent\]** Acquirer \[Parent\] | Price ($M) | Price/ Revenue | Price/ EBITDA | Target | Target | | 1 | **Mott** IDEX | $1,000.0 | 5.0x | 19.0x | Farmington, CT | Components & Subsystems | | 2 | **Private Jet Maintenance**Haven MRO \[Haven ASG\] | - | - | - | Buffalo, NY | MRO & Logistics | | 3 | **Axient \[Sagewind Capital\]** Astrion \[Brightstar Capital\] | - | - | - | Huntsville, AL | Government Services, IT Services and Software | | **No.** | **Target Descriptions** | | --- | --- | | 1 | Mott is a manufacturer of sintered porous material structures and flow control solutions used in fluidic applications for private sector and U.S. federal government markets. | | 2 | Private Jet Maintenance offers MRO services for business jets. The company primarily focuses on providing services for the Bombardier Learjet, Bombardier Challenger, Cessna Citation, and Dassault Falcon. | | 3 | Axient is a provider of highly technical engineering and management support services, advancing defense and civilian missions from aerospace to cyberspace with multi-domain test and analysis, mission engineering and operations, digital engineering, and advanced technologies. | ### 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 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"author" : { "@type" : "Person", "name" : "Stephen Perry", "url" : "https://blog.janescapital.com/weekly-ad-news-transactions/author/stephen-perry" }, "dateModified" : "2024-07-29T20:46:38.957Z", "datePublished" : "2024-07-29T20:46:33.000Z", "headline" : "A&D Weekly News & Transactions - Week 30", "image" : [ "https://blog.janescapital.com/hubfs/Weekly%20AD%20-%20New/A&D%20Weekly%20Recap%20-%20Week%2030%20(7.29.24).png" ], "mainEntityOfPage" : { "@id" : "https://blog.janescapital.com/weekly-ad-news-transactions/07-29-2024", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.janescapital.com/hubfs/JCP-Logo-Color.png" }, "name" : "Janes Capital Partners, Inc" } } ```