M&A Transactions
AAR Corp. (NYSE: AIR) has acquired HAECO Americas, a subsidiary of Hong Kong Aircraft Engineering Co., a subsidiary of Swire Pacific (SEHK: 19), and a provider of heavy aircraft maintenance, repair, and overhaul ("MRO") and modification services within commercial aerospace markets. The transaction is valued at $78 million.
Canopy Aerospace and Defense, a portfolio company of Trive Capital Holdings, has acquired Tods Defence Ltd., a portfolio company of Acorn Capital Management and provider of advanced composite structures and acoustic materials for surface and subsurface vessels within defense markets. Terms of the transaction were not disclosed.
Eaton Corporation plc (NYSE: ETN) has agreed to acquire the Thermal Solutions Business of Boyd Corp., a portfolio company of GS Capital Partners and provider of thermal components, systems, and ruggedized solutions within commercial aerospace, defense, and other commercial markets. The transaction is valued at $9.50 billion.
Intuitive Machines, Inc. (NASDAQ: LUNR) has agreed to acquire Lanteris Space Systems, a portfolio company of Advent International, L.P. and provider of GEO ("Geostationary Earth Orbit") satellites, LEO ("Low Earth Orbit") satellites, and propulsion systems within space and defense markets. The transaction is valued at $800 million.
Karman Space & Defense (NYSE: KRMN) has acquired Five Axis Industries, Inc., a provider of highly engineered products, including spun form nozzles, gaseous oxygen systems, and fluid control technologies, within commercial space markets. The transaction is valued at $88 million.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) has agreed to acquire Orbit Technologies Ltd. (TASE: ORBI), a provider of satellite-based communication systems for mobile and unmanned aerial, seaborne, undersea and land systems, in addition to military vehicles and other systems within commercial and defense markets. The transaction is valued at $356 million.
Tinicum Capital Partners and Blackstone (NYSE: BX) have agreed to acquire the Aerospace business of TriMas Corp. (NASDAQ: TRS), a provider of highly-engineered fasteners and precision-machined components for mission-critical applications within commercial aerospace and defense markets. The transaction is valued at $1.45 billion
Valence Surface Technologies LLC, a portfolio company of ATL Partners and British Columbia Investment Management Corporation, have acquired Foresight Finishing LLC, a provider of precious metal surface treatment for highly engineered products within commercial aerospace, defense, and other commercial markets. Terms of the transaction were not disclosed.
Veryon, Inc., a portfolio company of ParkerGale, has acquired EBIS, a subsidiary of Tronair, Inc. and provider of aviation maintenance and asset management software within commercial aerospace markets. Terms of the transaction were not disclosed.
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