A&D Weekly News & Transactions - Week 28

Industry Headline News

Elon Musk Says He Always Wanted His SpaceX Employees to Get Rich — and Now Thousands of Them are Millionaires
July 9, 2026 - Elon Musk said SpaceX's June IPO has likely made several thousand employees millionaires through company stock ownership. Musk said SpaceX has long granted equity to employees so they can share in the company's financial success as its value grows. He also outlined the company's long-term goals, including establishing a lunar base and eventually sending people to Mars. (Business Insider)

Anduril CEO Says it's Bad to IPO in ‘Middle of a Hype Cycle’
July 9, 2026 - Anduril CEO Brian Schimpf said the company is not rushing to pursue an initial public offering, citing current market conditions and elevated private company valuations. Schimpf said Anduril is focused on long-term growth after reaching a $61 billion valuation in May and continuing to invest in expanding its defense technology business. He also noted that some private technology companies may be trading at valuations that could prove difficult to sustain. (CNBC)

Blue Origin Nears a Big Fund-Raising Round
July 8, 2026 - Blue Origin is raising $10 billion from outside investors for the first time in a funding round that values the company at $130 billion before the new investment. Coatue Management is expected to lead the round with a $4 billion investment, while founder Jeff Bezos plans to contribute an additional $2 billion. The funding will support Blue Origin's expansion as it develops launch vehicles and satellite infrastructure to compete with SpaceX. (New York Times)

RTX Plans to Double Global Stinger Missile Production
July 7, 2026 - RTX's Raytheon is working with European partners, including Diehl Defence, to double production of its Stinger air defense missile in response to growing demand. Diehl Defence will manufacture the missile’s guidance section, while additional components will be produced by suppliers in the Netherlands and elsewhere in Europe. Stinger is the preferred surface-to-air missile for 24 countries, including 10 NATO members. Final assembly and testing of the missiles will take place in the Netherlands. (Seeking Alpha)

Embraer Posts Strongest Second-Quarter Deliveries in 16 years
July 7, 2026 - Embraer delivered 65 aircraft in the second quarter of 2026, its highest second-quarter total in 16 years, including 45 executive jets and 20 commercial aircraft. First-half deliveries reached 109 aircraft, up about 20% from the same period in 2025, driven by improvements in production scheduling. The company maintained its full-year guidance of 80–85 commercial aircraft and 160–170 executive jets for 2026. (AeroTime)

Poland Awards $4.8B A26 Submarine Deal to Saab
July 6, 2026 - Thales has agreed to acquire a 35.5% stake in French underwater drone manufacturer Exail Technologies and plans to launch a tender offer for the remaining shares, valuing the company at approximately €3.9 billion ($4.5 billion). The acquisition expands Thales' capabilities in underwater warfare, maritime drones, and inertial navigation systems, and follows a competing bid from Safran that was withdrawn. The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals. (Defense News)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	Ultra Maritime [Advent International] Lockheed Martin	$3,450.0	-	-	Greenford, United Kingdom	Navy/Maritime
2	DZYNE Technologies [Highlander Partners] Ondas Holdings	$825.8	4.3x	-	Fairfax, VA	Unmanned Vehicles
3	Highlight Technologies Empower AI [H.I.G. Capital]	-	-	-	Fairfax, VA	Government Services, IT Services and Software
4	Advance Mfg Precinmac [Centerbridge Partners]	-	-	-	Westfield, MA	Machined & Cast Parts
5	AirStart Sentry Aerospares [Acorn Capital]	-	-	-	Toronto, Canada	Distribution
6	The Precicast-Group [Georg Fischer] Consolidated Precision Products [Berkshire Partners]	$270.0	-	-	Novazzano, Switzerland	Machined & Cast Parts
7	Collecte Localisation Satellites [French Space Agency] MDA Space	$927.1	2.8x	14.9x	Ramonville-Saint-Agne, France	Satellite, Satellite Services & Space Systems
8	B&A Company Talon Precision	-	-	-	Milford, CT	Machined & Cast Parts
9	Project35 T3 Defense	$7.7	3.2x	-	Gen Yavne, Israel	Unmanned Vehicles
10	Heartland Precision Fasteners SFS Group	-	-	-	New Century, KS	Machined & Cast Parts

No.	Target Descriptions
1	Ultra Maritime develops and manufactures underwater defense electronics equipment for private sector, international, and U.S. federal government defense and maritime markets. The company specializes in submarine communications, acoustic countermeasures, torpedo defense, anti-submarine warfare (ASW), transducers, sonobuoy systems, and special-purpose arrays.
2	DZYNE Technologies develops autonomous aerial systems, artificial intelligence, and mission software supporting defense and national security operations. The company provides long-endurance unmanned aircraft, autonomous mission planning, computer vision, and ISR technologies designed for contested and multi-domain environments.
3	Highlight Technologies is a provider of mission support, data analytics, cloud, cybersecurity, and IT services for private sector and U.S. federal government civil and defense markets. The company specializes in digital transformation, cloud computing, cybersecurity, data analytics & AI, mission operations support, and software development & systems integration.
4	Advance Mfg is a provider of precision machining, welding fabrication, and assembly solutions for private sector and U.S. federal government aerospace and defense markets. The company specializes in proprietary hydraulic and computerized torque systems, servicing a range of military and commercial jet engine variants.
5	AirStart supplies rotable aircraft components and aftermarket inventory for commercial aviation platforms. The company provides component sales, leasing, and exchange solutions supported by global inventory and around-the-clock AOG service.
6	Precicast Group manufactures highly engineered investment cast components for aerospace and industrial gas turbine applications. The company supports aircraft engine and turbine programs through specialized foundry processes used to produce complex, performance-critical components.
7	CLS a provider of AI-enabled Earth observation value-added services and satellite IoT solutions for private sector and international government environmental, maritime surveillance, energy, and infrastructure markets. CLS processes data from almost 200,000 drifting buoys, animal tags, VMS beacons, & LRIT tracking per month and observes the oceans and inland waters.
8	B&A Company manufactures tight-tolerance metal components for aerospace, defense, medical, and other mission-critical applications. The company specializes in precision CNC milling and turning supported by AS9100 and ISO 9001-certified production capabilities.
9	Project35 is a developer of autonomous unmanned aerial systems (UAS) and counter-UAS technologies for private sector and Israeli government defense and industrial markets. The company specializes in multirotor cargo drones, fixed-wing VTOL aircraft, tactical FPV systems, and secure command-and-control technologies.
10	Heartland Precision Fasteners manufactures high-strength, tight-tolerance screws and bolts for commercial aerospace and defense applications. The company produces standard and custom fasteners from stainless steel, titanium, Inconel, Waspaloy, and other specialty alloys, supported by in-house chemical processing capabilities.