--- title: A&D Weekly News & Transactions - Week 34 description: The JCP A&D Weekly Report from Monday, August 26th, 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%2034%20(8.26.24).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/08-26-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+34) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/08-26-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+34) [Share on LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https://blog.janescapital.com/weekly-ad-news-transactions/08-26-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+34) # A&D Weekly News & Transactions - Week 34 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%2034%20(8.26.24).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) **Boeing's new CEO, Kelly Ortberg, must decide the fate of the Starliner program after NASA chose SpaceX to safely bring astronauts home** *Aug. 25, 2024 -* This decision highlights the ongoing issues with Starliner, including safety concerns and cost overruns. Boeing now faces a tough choice between continuing its space ambitions and managing strained finances. [(Bloomberg)](https://www.bloomberg.com/news/articles/2024-08-25/boeing-ceo-faces-hard-decisions-after-nasa-s-starliner-rejection?utm_source=website&utm_medium=share&utm_campaign=linkedin?sref=l2iXOaTx) Boeing's new CEO, Kelly Ortberg, must decide the fate of the Starliner program after NASA chose SpaceX to safely bring astronauts home Aug. 25, 2024 - This decision highlights the ongoing issues with Starliner, including safety concerns and cost overruns. Boeing now faces a tough choice between continuing its space ambitions and managing strained finances. (Bloomberg) ![Sierra Nevada Corp](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Sierra%20Nevada%20Corp.png?width=500&height=500&name=Sierra%20Nevada%20Corp.png) **Sierra Nevada Corporation has secured a $991M 12-year IDIQ contract from the Army to convert Bombardier Global 6500 jets into advanced spy planes under the HADES program** *Aug. 22, 2024 -* Surpassing competitors like L3Harris and Leidos, this initiative aims to enhance airborne intelligence, surveillance, and reconnaissance capabilities, replacing older turboprop aircraft. [(Breaking Defense)](https://breakingdefense.com/2024/08/snc-wins-army-contract-for-hades-spy-plane/) Sierra Nevada Corporation has secured a $991M 12-year IDIQ contract from the Army to convert Bombardier Global 6500 jets into advanced spy planes under the HADES program Aug. 22, 2024 - Surpassing competitors like L3Harris and Leidos, this initiative aims to enhance airborne intelligence, surveillance, and reconnaissance capabilities, replacing older turboprop aircraft. (Breaking Defense) ![lufthansa\_technik\_logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/lufthansa_technik_logo.jpeg?width=50&height=50&name=lufthansa_technik_logo.jpeg) **Lufthansa Technik has acquired an 80% stake in Tulsa-based ETP Thermal Dynamics to expand its footprint in the Americas and strengthen its supply chain security** *Aug. 22, 2024 -* ETP specializes in MRO services for heat exchangers and other aircraft components, with FAA and EASA approvals. [(Aviation Week)](https://aviationweek.com/mro/lufthansa-technik-acquires-tulsa-based-heat-exchanger-mro-provider) Lufthansa Technik has acquired an 80% stake in Tulsa-based ETP Thermal Dynamics to expand its footprint in the Americas and strengthen its supply chain security Aug. 22, 2024 - ETP specializes in MRO services for heat exchangers and other aircraft components, with FAA and EASA approvals. (Aviation Week) ![Boeing\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Boeing_Logo.png?width=3840&height=3840&name=Boeing_Logo.png) **In 2023, Boeing reclaimed the top spot in aerospace revenue, surpassing Airbus with $77.8B, though Airbus led in commercial sales** *Aug. 22, 2024 -* Despite recent challenges and a new CEO, Boeing outperformed rivals and maintained its lead, while the overall recovery in commercial aviation is evident. The top aerospace companies list saw increased revenue among billion-dollar earners and notable shifts, including Rostec's removal due to data issues. [(Simple Flying)](https://simpleflying.com/boeing-top-100-aerospace-company/) In 2023, Boeing reclaimed the top spot in aerospace revenue, surpassing Airbus with $77.8B, though Airbus led in commercial sales Aug. 22, 2024 - Despite recent challenges and a new CEO, Boeing outperformed rivals and maintained its lead, while the overall recovery in commercial aviation is evident. The top aerospace companies list saw increased revenue among billion-dollar earners and notable shifts, including Rostec's removal due to data issues. (Simple Flying) ![China\_Flag](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/China_Flag.png?width=500&height=500&name=China_Flag.png) **Concerns are rising over China's advancing space maneuvering capabilities** *Aug. 21, 2024 -* Recent maneuvers by Chinese spacecraft demonstrate growing proficiency in counterspace operations, such as co-orbital anti-satellite techniques. Observations from ExoAnalytic Solutions reveal China's increasing use of aggressive and complex maneuvers, signaling a deliberate effort to challenge U.S. space dominance. [(Aviation Week)](https://aviationweek.com/defense-space/concerns-grow-over-chinese-space-maneuvering-capability) Concerns are rising over China's advancing space maneuvering capabilities Aug. 21, 2024 - Recent maneuvers by Chinese spacecraft demonstrate growing proficiency in counterspace operations, such as co-orbital anti-satellite techniques. Observations from ExoAnalytic Solutions reveal China's increasing use of aggressive and complex maneuvers, signaling a deliberate effort to challenge U.S. space dominance. (Aviation Week) ![VSE Corp](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/VSE%20Corp.png?width=600&height=600&name=VSE%20Corp.png) **VSE Corporation has appointed Adam Cohn as CFO and Garry Snow as Chief Growth Officer, both bringing extensive experience in aerospace and financial management** *Aug. 20, 2024 -* Cohn, formerly with Triumph Group, will lead VSE's financial strategies, while Snow will focus on accelerating organic growth. These appointments are part of VSE's broader strategy to enhance market presence and shareholder value. [(Investing)](https://www.investing.com/news/company-news/vse-corporation-appoints-new-cfo-and-chief-growth-officer-3579072) VSE Corporation has appointed Adam Cohn as CFO and Garry Snow as Chief Growth Officer, both bringing extensive experience in aerospace and financial management Aug. 20, 2024 - Cohn, formerly with Triumph Group, will lead VSE's financial strategies, while Snow will focus on accelerating organic growth. These appointments are part of VSE's broader strategy to enhance market presence and shareholder value. (Investing) ![US State Department](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/US%20State%20Department.png?width=500&height=500&name=US%20State%20Department.png) **The U.S. State Department has approved South Korea's potential purchase of up to 36 Apache AH-64E helicopters for $3.5B** *Aug. 19, 2024 -* These sales are not final, and quantities may change during negotiations, but they align with U.S. foreign policy goals to strengthen allies. The Apache deal highlights the focus on enhancing South Korea's defense capabilities in the Indo-Pacific region. [(Breaking Defense)](https://breakingdefense.com/2024/08/south-korea-cleared-to-buy-up-to-36-new-apache-ah-64e-helicopters/) The U.S. State Department has approved South Korea's potential purchase of up to 36 Apache AH-64E helicopters for $3.5B Aug. 19, 2024 - These sales are not final, and quantities may change during negotiations, but they align with U.S. foreign policy goals to strengthen allies. The Apache deal highlights the focus on enhancing South Korea's defense capabilities in the Indo-Pacific region. (Breaking Defense) ![Boeing\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Boeing_Logo.png?width=3840&height=3840&name=Boeing_Logo.png) **Boeing has paused flight tests of its 777X aircraft after discovering damage to a structure in one of the jets during maintenance** *Aug. 19, 2024 -* The issue has led Boeing to ground all four test aircraft, potentially affecting the already delayed 2025 delivery schedule. The company is addressing the problem and has informed the FAA and customers, but the impact on certification and deliveries remains uncertain. [(CNBC)](https://www.cnbc.com/2024/08/20/boeing-pauses-tests-of-777x-aircraft-after-finding-damage-to-one-of-the-jets-structures.html) Boeing has paused flight tests of its 777X aircraft after discovering damage to a structure in one of the jets during maintenance Aug. 19, 2024 - The issue has led Boeing to ground all four test aircraft, potentially affecting the already delayed 2025 delivery schedule. The company is addressing the problem and has informed the FAA and customers, but the impact on certification and deliveries remains uncertain. (CNBC) ### Weekly Transaction Review | **No.** | **Parties Involved** | **Transaction Metrics** | **Location** | **Segment** | | | | --- | --- | --- | --- | --- | --- | --- | | | **Target \[Parent\]** Acquirer \[Parent\] | Price ($M) | Price/ Revenue | Price/ EBITDA | Target | Target | | 1 | **Criteria Labs** Dover | - | - | - | Austin, TX | Defense Electronics | | 2 | **J-Mark Connectors**Mobix Labs | - | - | - | Wichita, KS | Connectors | | 3 | **Capewell Aerial Systems \[Argosy\]** HEICO | - | - | - | South Windsor, CT | Specialty Defense Systems and Services | | 4 | **Qualis** Bluestone Investment | - | - | - | Huntsville, AL | Government Services, IT Services and Software | | 5 | **ETP Thermal Dynamics \[Campbell Holdings\]** Lufthansa Technik \[Lufthansa\] | - | - | - | Tulsa, OK | MRO Logistics | | **No.** | **Target Descriptions** | | --- | --- | | 1 | Criteria Labs designs and manufactures RF device and microelectronic engineering solutions for high-reliability applications in private sector and U.S. federal government aerospace markets. The company's products include gain blocks, GaN power amplifiers, MCMs & hybrids, and other RF devices. | | 2 | J-Mark Connectors provides hardware and EMI interconnect solutions. The company works to meet demanding filtering, grounding, and transient suppression requirements in the aerospace, military, and medical sectors. | | 3 | Capewell Aerial Systems designs and manufactures highly advanced aerial delivery systems, parachute hardware and emergency descent devices. The company's aerial delivery systems are used in military transport aircraft across the world. | | 4 | Qualis is a provider of advanced modeling, simulation, and testing services for private sector and U.S. federal government aerospace and defense markets. The company's solutions support the development of next-generation missile defense and resilient satellite communications systems and enable the development of navigation in GPS-denied and contested environments. | | 5 | Qualis is a provider of advanced modeling, simulation, and testing services for private sector and U.S. federal government aerospace and defense markets. The company's solutions support the development of next-generation missile defense and resilient satellite communications systems and enable the development of navigation in GPS-denied and contested environments. | ### 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/08-26-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+34) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/08-26-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+34) [Share on 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