--- title: A&D Weekly News & Transactions - Week 44 description: The JCP A&D Weekly Report from Monday, November 4th, 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%2044%20(11.4.24).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/11-04-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+44) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/11-04-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+44) [Share on LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https://blog.janescapital.com/weekly-ad-news-transactions/11-04-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+44) # A&D Weekly News & Transactions - Week 44 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%2044%20(11.4.24).png)   ### Industry Headline News ![Airbus\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Airbus_Logo.png?width=1280&height=1280&name=Airbus_Logo.png) **Airbus is exploring options to consolidate parts of its space division, potentially merging specific business lines with other companies** *Nov. 3, 2024 -* While there is interest in a European merger, Airbus is first focusing on internal restructuring and cost control. The European Space Agency has expressed concern over the sector's health and is considering supportive measures. [(Space News)](https://spacenews.com/airbus-keeps-options-open-for-european-industry-consolidation/) Airbus is exploring options to consolidate parts of its space division, potentially merging specific business lines with other companies Nov. 3, 2024 - While there is interest in a European merger, Airbus is first focusing on internal restructuring and cost control. The European Space Agency has expressed concern over the sector's health and is considering supportive measures. (Space News) ![BETA Tech](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/BETA%20Tech.png?width=500&height=500&name=BETA%20Tech.png) **BETA Technologies has raised $318 million in Series C funding, bringing its total funding to over $1B, with major contributions from Qatar Investment Authority and existing investors** *Nov. 1, 2024 -* The company is advancing the certification of its electric aircraft, ‘ALIA,’ which is being developed in both CTOL and VTOL versions. BETA has prioritized in-house development of key systems and begun production, aiming to deliver the first units soon. [(AeroTime)](https://www.aerotime.aero/articles/beta-technologies-closes-318-million-series-c-funding-round) BETA Technologies has raised $318 million in Series C funding, bringing its total funding to over $1B, with major contributions from Qatar Investment Authority and existing investors Nov. 1, 2024 - The company is advancing the certification of its electric aircraft, ‘ALIA,’ which is being developed in both CTOL and VTOL versions. BETA has prioritized in-house development of key systems and begun production, aiming to deliver the first units soon. (AeroTime) ![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 Machinists union will vote Monday on a new contract offer, which includes a 38% wage increase over four years, a $12,000 ratification bonus, and other benefits** *Oct. 31, 2024 -* Union leadership recommends members approve the offer, stating they’ve achieved significant gains in negotiations. If accepted, the deal would end the eight-week strike, with workers returning to their roles by November 12. [(Seattle Times)](https://www.seattletimes.com/business/boeing-aerospace/boeing-machinists-to-vote-on-new-contract-offer-meant-to-end-strike/) Boeing’s Machinists union will vote Monday on a new contract offer, which includes a 38% wage increase over four years, a $12,000 ratification bonus, and other benefits Oct. 31, 2024 - Union leadership recommends members approve the offer, stating they’ve achieved significant gains in negotiations. If accepted, the deal would end the eight-week strike, with workers returning to their roles by November 12. (Seattle Times) ![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. approved sales of advanced AIM-120D-3 AMRAAM missiles to Denmark and maintenance support for Patriot units to Switzerland** *Oct. 30, 2024 -* With RTX and Lockheed Martin as prime contractors, Denmark's $744 million AMRAAM deal enhances its combat capability, while Switzerland’s $450 million Patriot support aims to improve defense interoperability with U.S. and European allies. [(Airforce Technology)](https://www.airforce-technology.com/news/amraam-patriot-sale-denmark-switzerland/?cf-view) The U.S. approved sales of advanced AIM-120D-3 AMRAAM missiles to Denmark and maintenance support for Patriot units to Switzerland Oct. 30, 2024 - With RTX and Lockheed Martin as prime contractors, Denmark's $744 million AMRAAM deal enhances its combat capability, while Switzerland’s $450 million Patriot support aims to improve defense interoperability with U.S. and European allies. (Airforce Technology) ![Boeing\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Boeing_Logo.png?width=3840&height=3840&name=Boeing_Logo.png) **Boeing raised $21 billion through a public stock offering, selling 112 million common shares and depositary shares to fund debt repayment, working capital, and investments** *Oct. 29, 2024 -* This move aims to stabilize operations amid challenges, including costly worker strikes and production delays from safety concerns and whistleblower reports. The recent rejection of Boeing’s contract proposal by the workers' union underscores ongoing labor tensions, adding further pressure on new CEO Kelly Ortberg. [(AeroTime)](https://www.aerotime.aero/articles/boeing-share-sale-stock) Boeing raised $21 billion through a public stock offering, selling 112 million common shares and depositary shares to fund debt repayment, working capital, and investments Oct. 29, 2024 - This move aims to stabilize operations amid challenges, including costly worker strikes and production delays from safety concerns and whistleblower reports. The recent rejection of Boeing’s contract proposal by the workers' union underscores ongoing labor tensions, adding further pressure on new CEO Kelly Ortberg. (AeroTime) ![Pratt&Whitney\_Logo](https://blog.janescapital.com/hs-fs/hubfs/Weekly_AD/Logos/Pratt%26Whitney_Logo.png?width=500&height=500&name=Pratt%26Whitney_Logo.png) **Pratt & Whitney has secured a $1.3B contract for the F135 engine core upgrade, enhancing durability, power, and cooling for the F-35 Lightning II’s advanced capabilities** *Oct. 28, 2024 -* This contract supports continued design improvements and prepares the program for production, involving over 700 engineers and backing 57,000 jobs across the U.S. The upgraded engine will be integrated into new F-35s and retrofitted on existing ones worldwide. [(Aerospace Manufacturing and Design)](https://www.aerospacemanufacturinganddesign.com/news/pratt-whitney-awarded-f135-engine-core-upgrade-contract/) Pratt & Whitney has secured a $1.3B contract for the F135 engine core upgrade, enhancing durability, power, and cooling for the F-35 Lightning II’s advanced capabilities Oct. 28, 2024 - This contract supports continued design improvements and prepares the program for production, involving over 700 engineers and backing 57,000 jobs across the U.S. The upgraded engine will be integrated into new F-35s and retrofitted on existing ones worldwide. (Aerospace Manufacturing and Design) ### Weekly Transaction Review | **No.** | **Parties Involved** | **Transaction Metrics** | **Location** | **Segment** | | | | --- | --- | --- | --- | --- | --- | --- | | | **Target \[Parent\]** Acquirer \[Parent\] | Price ($M) | Price/ Revenue | Price/ EBITDA | Target | Target | | 1 | **Concordia technologies** Special Aerospace Services \[Godspeed Capital\] | - | - | - | Huntsville, AL | Government Services, IT Services and Software | | 2 | **Flight Operations System Business \[RTX\]**Portside | - | - | - | Charlotte, NC | Controls & Systems | | 3 | **Antenna Research Associates** OceanSound Partners | - | - | - | Laurel, MD | Defense Electronics | | 4 | **Squaredrone System** Delair | - | - | - | Grenoble, France | Unmanned Vehicles | | 5 | **Hanover Ring & Seal Operation \[SKF\]** Carco PRP | $216.0 | 3.3x | - | Hanover, PA | Components & Subsystems | | 6 | **Virtek Vision \[American Industrial Partners\]** Ametek | - | - | - | Waterloo, Canada | Test & Measurement |   | **No.** | **Target Descriptions** | | --- | --- | | 1 | Concordia is a developer of hypersonic weapons and missile defense systems technology and solutions for private sector and U.S. federal government aerospace and defense markets. The company provides advanced engineering, modeling and simulation, and rapid prototyping services. | | 2 | The Flight Operations System business of Collins Aerspace streamlines scheduling, trip planning and reporting for business aviation operators, providing software that increases operational efficiency and enables users to conduct “real-time” management. | | 3 | Antenna Research Associates designs, develops, and manufactures antennas and RF systems for both military and civilian applications. The company supplies antennas for communication networks, RF surveillance, RF jamming, public safety networks, and civilian markets. In addition to antennas, the company's product offerings include reflector feeds, positioners, rotators, and accessories. | | 4 | Squadrone System specializes in the design of multi-copter drones for complex applications. The company's areas of expertise include UAV swarming, anti-drone combat, and automated industrial inspections. | | 5 | The Hanover Ring and Seal Operation of SKF designs and manufactures seals and bearings for the space, aerospace, defense, energy, and general industrial markets. Capabilities include product development, precision machining, and quick turn time. | | 6 | Virtek Vision specializes in the development and manufacturing of advanced 3D laser projectors, smart cameras, and quality control inspection systems, powered by AI-driven software and algorithms. The company's capabilities include AI-inspection, 3D vision positioning, 2D laser projection, and quality inspection. | ### 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/11-04-2024&text=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+44) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.janescapital.com/weekly-ad-news-transactions/11-04-2024&t=A%26amp%3BD+Weekly+News+%26amp%3B+Transactions+-+Week+44) [Share on 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