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A&D Weekly News & Transactions - Week 36
Industry Headline News
Army Receives Prototype of Another Contender to Replace the Bradley Fighting Vehicle
Sept. 7, 2026 - The U.S. Army received American Rheinmetall’s first Lynx XM-30 prototype, one of eight vehicles that will undergo testing as part of the competition to replace the aging M2 Bradley Fighting Vehicle. American Rheinmetall and General Dynamics Land Systems are competing for the program, which could ultimately be worth approximately $45 billion, with a winner expected in late 2027. The XM-30 prototypes will be evaluated for capabilities including a 50mm cannon, anti-tank missiles, advanced protection systems and modular architecture that can accommodate future upgrades. (Washington Times)
Trump Said He'll Stop Canada's Bombardier From Being Sold in the U.S.
Sept. 7, 2026 - President Trump said he wants to halt Bombardier aircraft sales in the U.S. unless the Canadian manufacturer builds its jets domestically, though it remains unclear whether any U.S. federal agencies will cancel existing or future orders. Bombardier responded that it supports tens of thousands of U.S. jobs, has operations in more than 20 states, and relies on a supply chain of 2,800 American companies across 47 states for components including engines, wings and avionics. The dispute comes amid escalating U.S.-Canada trade tensions, with both countries recently imposing 50% tariffs on various goods from the other. (Business Insider)
U.S. Defense Contractor Files Chapter 11 Bankruptcy
Sept. 7, 2026 - Noble Supply & Logistics filed for Chapter 11 bankruptcy after losing several major government contracts that had generated hundreds of millions of dollars in revenue. The company was left with significant debt and inventory obligations, including $70 million in inventory tied to a non-renewed $1.2 billion Defense Logistics Agency contract. Following additional contract cancellations and the termination of $400 million in orders, Noble filed for bankruptcy to stabilize operations and maximize the value of its assets. (TheStreet)
Lockheed Martin, General Dynamics Get Framework Deals to Surge Patriot, THAAD Production
Aug. 31, 2026 - The Defense Department signed framework agreements with General Dynamics and Lockheed Martin to establish potential seven-year contracts that would accelerate production of critical THAAD and PAC-3 MSE Patriot interceptor components. The effort aims to triple Patriot production capacity and quadruple THAAD capacity as U.S. inventories have been strained by operations in Iran and support for Ukraine, with estimates indicating roughly 65% of Patriot and 38% of THAAD inventories have been expended. The production expansion remains subject to annual congressional funding and is part of a broader Pentagon effort to rebuild munitions stockpiles and strengthen the U.S. missile defense industrial base. (Defense News)
Weekly Transaction Review
| No. | Parties Involved | Transaction Metrics | Location | Segment | ||
| Target [Parent] Acquirer [Parent] |
Price ($M) |
Price/ Revenue |
Price/ EBITDA |
Target | Target | |
| 1 | Atech Turbine Components VSE |
- | - | - | Auburn, MA | MRO & Logistics |
| 2 | Bodycote Veritas Capital |
$2,510.0 | 2.5x | 10.6x | Macclesfield, United Kingdom | Machined & Cast Parts |
| 3 | Cametoid Technologies Valence Surface Technologies [ATL Partners] |
- | - | - | South Windsor, CT | Machined & Cast Parts |
| 4 | Geosync Microwave Communication Power Corporation [Addison Capital Partners] |
- | - | - | Hauppauge, NY | Defense Electronics |
| 5 | MHI Canada Aerospace [MHI] Bombardier |
- | - | - | Mississauga, Canada | Aerostructures |
| 6 | Flowcopter Tekever |
- | - | - | Loanhead, United Kingdom | Unmanned Vehicles |
| 7 | Aviotec Canopy Aerospace [Trive Capital] |
- | - | - | Reggio Calabria, Italy | Components & Subsystems |
| 8 | Peerless Electronics FDH Aero [Audax] |
- | - | - | Hauppauge, NY | Distribution |
| 9 | Schatz Bearing Arxis [Arcline] |
- | - | - | Poughkeepsie, NY | Components & Subsystems |
| 10 | StratEdge Arxis [Arcline] |
- | - | - | Santee, CA | Defense Electronics |
| 11 | Amivero Xpect Solutions [NewSpring Capital] |
- | - | - | Reston, VA | Government Services, IT Services and Software |
| 12 | Polaris Aero Veryon [ParkerGale] |
- | - | - | Scottsdale, AZ | Government Services, IT Services and Software |
| 13 | Cascade Gasket & Manufacturing Trelleborg |
- | - | - | Auburn, WA | Machined & Cast Parts |
| 14 | Marshall Aerospace [Marshall of Cambridge] Aurelius |
- | - | - | London, United Kingdom | MRO & Logistics |
| 15 | AGENIUM Group GDI Simulation [MBDA] |
- | - | - | Toulouse, France | Simulation & Training Systems |
| No. | Target Descriptions |
| 1 | Atech Turbine is a provider of maintenance, repair, and overhaul (MRO) solutions focused on complex hot-section components for aircraft turbine engines. The company primarily supports Pratt & Whitney Canada engine platforms such as the PT6, JT15D, PW100, PW150, PW200, PW300, and PW500 engine families, as well as the PW901 auxiliary power unit. |
| 2 | Bodycote provides heat treatment and specialist thermal processing services for aerospace and defense components, including vacuum heat treatment, hot isostatic pressing, brazing, and surface technologies. The company supports engines, landing gear, airframes, space propulsion, and defense systems through a global network of aerospace-qualified processing facilities. |
| 3 | Cametoid is a provider of ion vapor deposition (IVD) surface treatment for private sector and U.S. federal government aerospace and defense markets. Cametoid's core capabilities include IVD coatings for steel and titanium alloys, stainless steel, and aluminum, as well as a patented process for coating non-metallic parts such as ceramics and composites, including PEEK and PEKK. |
| 4 | Geosync is a manufacturer of low-noise amplifiers, block converters, converter modules, RF switching circuits, equalizers, synthesizers, filters, and related custom RF circuitry serving SATCOM, electronic warfare, airborne, and shipborne communications applications. |
| 5 | MHI Canada specializes in the assembly and integration of major aircraft structures for Bombardier's Global 5500/6500 and Challenger 350/3500 business aircraft. The business' capabilities include major structural assembly, wing-to-fuselage pre-fit, systems installation and testing, tooling, sustaining engineering, configuration management, and aftermarket support. |
| 6 | Flowcopter is a developer of hybrid, heavy-lift unmanned aerial vehicles (UAVs) for private sector and international government aerospace and defense markets. The company leverages digital displacement hydraulic transmission technology for UAV propulsion by combining hydraulic motors with a conventional or sustainable-fuel engine to deliver greater payload and endurance than battery-electric drones. |
| 7 | Aviotec is a provider of design, manufacturing, integration, and testing of thermal-control hardware and electrical harnesses for satellites, spacecraft, defense, and cryogenic applications. The company specializes in multi-layer insulation (MLI) blankets, second-surface mirrors, thermal tapes and fillers, heaters, thermistors, thermocouples, and cryogenic and thermal-vacuum-compatible insulation, as well as power, signal, RF, and cryogenic electrical harnesses. |
| 8 | Peerless is a distributor and value-added service provider specializing in electromechanical and electronic components for private sector and U.S. federal government aerospace, defense, industrial, medical, and transportation markets. The company maintains an inventory of approximately 35,000 SKUs, including switches, circuit breakers, relays, contactors, sensors, thermostats, connectors, potentiometers, encoders, fuses, indicator lights, terminals, wire and cable, and related electrical components. |
| 9 | Schatz is a manufacturer and supplier of bearings for aerospace, machine tools, automation and robotics, medical equipment, construction, and agricultural machinery. The company is certified to AS9100 Rev D and ISO9001:2015 standards. |
| 10 | Stratedge is a designer and manufacturer of hermetic, high-frequency, and high-power ceramic packages, primarily for mission-critical defense and space applications. The company is certified to ISO 9001:2015 standards and its facilities are MIL Std 45208 compliant. |
| 11 | Amivero is a provider of artificial intelligence, automation, data science and analytics, digital identity, fraud and intelligence operations, and agile software development for private sector and U.S. federal government homeland security markets. |
| 12 | Polaris Aero develops aviation safety and risk management software for business aviation operators and flight departments. The company’s VOCUS platform integrates safety management, flight risk, ground risk, training, and operational data to support proactive risk identification and decision-making. |
| 13 | Cascade Gasket & Manufacturing produces elastomeric seals, gaskets, molded silicone components, clamp blocks, and grommets for aerospace and defense applications. The company supports complex sealing requirements through compression molding, gasket fabrication, 5-axis waterjet cutting, and certified elastomer testing capabilities. |
| 14 | Marshall Aerospace provides maintenance, repair, overhaul, modification, and engineering services for military transport aircraft, with particular expertise supporting the C-130 Hercules fleet. The company supports operators through heavy maintenance, structural modification, systems upgrades, missionization, and long-term fleet sustainment capabilities. |
| 15 | AGENIUM Group develops software and technical solutions for defense, aerospace, and space applications, with expertise in simulation, synthetic environments, space situational awareness, embedded AI, and critical electronics obsolescence management. The company supports military and industrial customers with mission-oriented technologies spanning training, experimentation, imaging, and complex systems integration. |
Selected Janes Capital Partners A&D Experience













