A&D Weekly News & Transactions - Week 11

Industry Headline News

Anduril Set to Acquire Orange County Space Surveillance Company
Mar. 12, 2026 - Anduril Industries has reached a deal to acquire Orange County-based ExoAnalytic Solutions, a firm specializing in space domain awareness and missile tracking. The acquisition will integrate ExoAnalytic’s global network of more than 400 telescopes and its modeling, simulation, and tracking software into Anduril’s platform to enhance capabilities in space sensing, battle management, and missile defense. The move reflects Anduril’s broader push into space-based defense systems and aligns with growing demand for orbital surveillance and next-generation missile warning capabilities. (Los Angeles Times)

Firefly Aerospace Successfully Launches Alpha Flight 7
Mar. 11, 2026 - Firefly Aerospace successfully launched its Alpha Flight 7 “Stairway to Seven” mission from Space Launch Complex-2 at Vandenberg Space Force Base at 5:50 p.m. PDT. The rocket reached orbit, delivered a demonstrator payload for Lockheed Martin, and conducted a stage-two engine relight during the mission. The flight also validated several Block II upgrade elements ahead of a full configuration upgrade planned for future Alpha launches. (Firefly Aerospace)

Boeing Secures $289M Israel Contract for 5,000 Smart Bombs
Mar. 10, 2026 - Boeing has signed a $289 million contract with Israel to supply 5,000 precision-guided smart bombs, according to Bloomberg News. The deal highlights ongoing U.S.-Israel defense cooperation and includes delivery of advanced munitions compatible with Israel’s existing aircraft fleet. Boeing’s Defense, Space & Security division will oversee production and integration, reinforcing Israel’s long-range strike capabilities. (Reuters)

Dassault Aviation Unveils Falcon 10X
Mar. 10, 2026 - Dassault Aviation unveiled its flagship Falcon 10X business jet in Bordeaux-Mérignac, presenting what the company describes as its most ambitious aircraft program. The ultra-long-range jet features what Dassault says is the largest cabin in a purpose-built business jet and incorporates new technologies derived from the company’s fighter aircraft development. The aircraft is positioned to compete with high-end business jets such as the Gulfstream G700 and Bombardier Global 7500. (Aerospace Manufacturing and Design)

GE Aerospace to Invest Additional $1 Billion in U.S. Manufacturing Expansion
Mar. 9, 2026 - AGE Aerospace announced it will invest an additional $1 billion to expand its U.S. manufacturing operations, focusing on advanced jet engine production and sustainable aviation technologies. The investment will support new facilities in Ohio and Texas, create over 1,200 jobs, and increase domestic output of the GE9X and Passport engines. GE Aerospace plans to leverage this expansion to meet growing demand from commercial airlines and defense contracts while advancing low-emission engine initiatives. (Reuters)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	Ultracor [HEICO] Applied Aerospace & Defense [Greenbriar Equity]	-	-	-	Stockton, CA	Composites
2	Valve Research & Manufacturing Woodward	-	-	-	Deerfield Beach, FL	Components & Subsystems
3	Mistral Ondas Holdings	$175.0	-	-	Bethesda, MD	Speciality Defense Systems and Services
4	Ibeos [Veritas Capital] Trident Systems [ATL Partners]	-	-	-	Sterling, VA	Satellite, Satellite Services & Space Systems
5	Evolution Space X-Bow Launch Systems	-	-	-	Zion, IL	Satellite, Satellite Services & Space Systems
6	ExoAnalytic Solutions Anduril	-	-	-	Foothill Ranch, CA	Satellite, Satellite Services & Space Systems
7	Jets MRO FlyHouse	-	-	-	Dallas, TX	MRO & Logistics
8	AA Bushings AIM MRO Holdings [AE Industrial]	-	-	-	Jupiter, FL	Machined & Cast Parts
9	Mavrik HavocAI	-	-	-	Long Beach, CA	Unmanned Vehicles
10	Advanced Cooling Technologies Blackstone	-	-	-	Lancaster, PA	Components & Subsystems
11	Becrypt Leonardo	-	-	-	London, United Kingdom	Cybersecurity, Intelligence Services and Homeland Defense
12	Bird Aerosystems Ondas Holdings	$112.5	-	-	Herzliya, Israel	Sensors & C4ISR
13	Soldermask Mercury	-	-	-	Huntington Beach, CA	Electronics Manufacturing (EMS) & Harnessing

No.	Target Descriptions
1	Ultracor engineers and manufactures composite honeycomb core materials used in complex bonded composites for private sector and U.S. federal government markets. The company specializes in carbon, quartz, Kevlar, fiberglass, and ultraflex-based honeycomb composites.
2	VRM is a manufacturer of high-precision flow control valves for private sector and U.S. federal government aerospace markets. The company specializes in solenoid valves, check valves, and relief valves. The company's products are utilized on a broad spectrum of commercial aviation platforms.
3	Mistral is a provider of program management, system integration, and procurement support solutions for private sector and U.S. federal government defense, logistics, and special operations markets. The company is a prime contractor on Army and USSOCOM uncrewed and autonomous platform procurement vehicles and supports rapid capability fielding and mission equipment integration for operational units.
4	Ibeos is a developer of spacecraft electronics for private sector and U.S. federal government aerospace and missile defense markets. The company specializes in the electrical, mechanical, and thermal design of electronic circuit cards and boxes; space-qualified power systems; flight computers; processing and data storage units; and high-density batteries.
5	Evolution Space is a developer of purpose-built motors, propellants, and subsystems for private sector and U.S. federal government solid rocket motor markets. The company's propulsion systems are designed to support a range of hypersonic and missile applications, such as boost stages for hypersonic glide vehicles, tactical missile propulsion, and experimental high-speed test platforms.
6	ExoAnalytic Solutions is a provider of space-domain awareness solutions for private sector and U.S. federal government defense, environmental, and missile defense markets. The company's ExoAnalytic Global Telescope Network enables persistent, high-fidelity awareness of deep space at a global scale by leveraging over 30 observatories and 300+ telescopes worldwide.
7	Jets MRO provides maintenance, repair, and overhaul services for business and commercial aircraft operators. The company supports fleet reliability through airframe maintenance, inspections, component repair coordination, and technical support services tailored to business aviation platforms.
8	AA Bushings is a manufacturer of custom replacement bushings, sleeves, and fasteners for a wide range of commercial and military aircraft.
9	Mavrik is a developer of Group 1 and Group 3 unmanned aerial systems (UAS) for private sector and U.S. federal government markets. The company specializes in heavy-lift quadcopter logistics drones, high-speed autonomous interceptor UAS, modular payload transport platforms, and networked aerial systems for defense logistics, counter-UAS, disaster response, and distributed field operations.
10	ACT is a designer and manufacturer of thermal management and energy efficiency solutions for private sector and U.S. federal government aerospace, defense, energy, and medical markets. The company specializes in heat pipes, pumped liquid and two-phase loops, and thermal storage devices for advanced computing, high-power density, and mission-critical applications.
11	Becrypt is a developer of cybersecurity platforms designed to protect data up to Top Secret classification for private sector, international, and U.S. federal government markets. The company's technologies focus on high-assurance endpoint protection, zero-trust architectures, secure remote access, and controlled data exchange across classified or segmented networks.
12	Bird Aerosystems develops airborne defense and surveillance systems for military and government aviation platforms. The company provides missile protection systems, airborne surveillance solutions, and mission management technologies supporting aircraft operating in contested and high-risk environments.
13	Soldermask is a provider of photoimageable solder mask application, precision solder-paste stencil fabrication, and PCB assembly tooling for the electronics manufacturing industry. The company's core expertise includes applying liquid and dry-film photoimageable solder masks to printed circuit boards, producing laser-cut and chemically etched stainless-steel solder-paste stencils, and manufacturing component verification tools and assembly aids used during circuit board production.