Transactions
May 2 2024
KippsDeSanto & Co. advises EWA on its sale to Sigma Defense, a portfolio company of Sagewind Capital
KippsDeSanto & Co. is pleased to announce the sale of Electronic Warfare Associates, Inc. (“EWA” or the “Company”) to Sigma Defense, a portfolio company of Sagewind Capital.
Headquartered in Herndon, VA, EWA is a leading provider of electronic warfare (“EW”) systems and solutions, including analysis, simulation and training, radio frequency threat simulators and custom instrumentation, signal analysis software, and embedded training hardware and software to Army, Air Force, Navy, Space Force and other U.S. National Security customers.
Founded in 1977, EWA has successfully developed and delivered a broad array of highly customizable EW capabilities that offer a comprehensive understanding of evolving threats across the electromagnetic spectrum. The partnership with Sigma Defense will further expand EWA’s influence to meet all elements, capabilities, and requirements for the Department of Defense’s (“DoD”) larger Joint All Domain Command & Control (“JADC2”) vision for connecting soldiers, sensors, and systems in the field into a single networking architecture. The integration of EWA’s expertise and resources into Sigma Defense’s portfolio will further augment its Combined JADC2 (CJADC2) ecosystem for collecting, analyzing, and distributing data for near real-time intelligence, and is the next step in the combined company’s evolution to respond to the ‘sense, make sense, and act capabilities’ requirements for CJADC2.
This transaction highlights several key trends in the M&A market:
• Buyers continue to show interest in top-tier assets, especially firms holding dominant market positions, unique capabilities, and enduring relationships with well-funded clients
• Continued interest in companies that support mission critical programs aligned with the budgetary patterns and strategic goals of the DoD
• Private equity and private equity-backed companies remain the most active buyers of middle-market and lower-middle market industry firms
• There is a notable market demand for hardware / software-centric defense companies creating advanced solutions to tackle the growing complexity of challenges encountered by warfighters
LEAD INVESTMENT BANKERS
Bob Kipps
Michael Potolicchio
KippsDeSanto & Co. is pleased to announce the sale of Electronic Warfare Associates, Inc. (“EWA” or the “Company”) to Sigma Defense, a portfolio company of Sagewind Capital.
Headquartered in Herndon, VA, EWA is a leading provider of electronic warfare (“EW”) systems and solutions, including analysis, simulation and training, radio frequency threat simulators and custom instrumentation, signal analysis software, and embedded training hardware and software to Army, Air Force, Navy, Space Force and other U.S. National Security customers.
Founded in 1977, EWA has successfully developed and delivered a broad array of highly customizable EW capabilities that offer a comprehensive understanding of evolving threats across the electromagnetic spectrum. The partnership with Sigma Defense will further expand EWA’s influence to meet all elements, capabilities, and requirements for the Department of Defense’s (“DoD”) larger Joint All Domain Command & Control (“JADC2”) vision for connecting soldiers, sensors, and systems in the field into a single networking architecture. The integration of EWA’s expertise and resources into Sigma Defense’s portfolio will further augment its Combined JADC2 (CJADC2) ecosystem for collecting, analyzing, and distributing data for near real-time intelligence, and is the next step in the combined company’s evolution to respond to the ‘sense, make sense, and act capabilities’ requirements for CJADC2.
This transaction highlights several key trends in the M&A market:
• Buyers continue to show interest in top-tier assets, especially firms holding dominant market positions, unique capabilities, and enduring relationships with well-funded clients
• Continued interest in companies that support mission critical programs aligned with the budgetary patterns and strategic goals of the DoD
• Private equity and private equity-backed companies remain the most active buyers of middle-market and lower-middle market industry firms
• There is a notable market demand for hardware / software-centric defense companies creating advanced solutions to tackle the growing complexity of challenges encountered by warfighters
LEAD INVESTMENT BANKERS
Bob Kipps
Michael Potolicchio
We prioritize your privacy. We do not sell your information and will only send occasional, relevant emails.
Copyright © 2025 KippsDeSanto & Co.
All Rights Reserved