Aerospace & Defense Acquisitions in 2025

VSE Corporation has completed the acquisition of GenNx/AeroRepair IntermediateCo Inc., the parent company of Aero 3, from GenNx360 Capital Partners for $350 million in cash (subject to working capital adjustments). The deal expands VSE's global aviation aftermarket distribution and MRO capabilities—particularly in wheel and brake repair and distribution—and was funded with proceeds from VSE's October 2025 public offering.

HawkEye 360 has acquired Innovative Signal Analysis (ISA), a Dallas-area provider of advanced signal-processing technologies, to integrate ISA's algorithms, edge and cloud processing solutions, and engineering expertise into HawkEye 360's RF signals-intelligence platform. ISA will operate as a subsidiary and the acquisition is intended to accelerate HawkEye 360's processing capabilities and expand detection, automation, and mission support for defense, government, and international partners.

Tikehau Capital’s aerospace and defense fund has acquired ScioTeq, a Belgium-based designer and manufacturer of ruggedized displays and mission-critical visualization systems, from OpenGate Capital. OpenGate will retain a meaningful minority stake and continue to support ScioTeq as the company pursues new markets and product expansion under Tikehau’s sector expertise.

McNally Capital has acquired Airforce Turbine Service, Ltd. (ATS), a Texas-headquartered provider of PT6A turboprop engine MRO and aftermarket services, marking the first investment from McNally Capital Fund III. As part of the transaction, Johannesburg-based TEMRO will join ATS as a wholly owned operating subsidiary and industry executive Rob Wilson will serve as Executive Chairman to support scaling and capability expansion.

Godspeed Capital Management LP has made a strategic growth investment in NextPoint Group (NPG), a Herndon, Virginia-based provider of AI-powered software, cloud modernization, and mission-critical network capabilities for the U.S. intelligence and defense communities. Financial terms were not disclosed; NPG CEO Ron Kattas and other management will retain meaningful ownership while Godspeed partners to build NPG into a mission-technology platform and expand its offerings.

Precision Aviation Group (PAG) has acquired H.E.R.O.S. Inc., a Chandler, Arizona-based specialist in Rolls-Royce M250/RR300 engine MRO services. The deal expands PAG’s M250/RR300 capabilities and geographic footprint, adding a specialized test cell and facility to support commercial, military, and special-mission operators.

Greenbriar Equity Group has formed a new platform, Applied Aerospace & Defense, by combining Applied Aerospace and PCX Aerosystems to create a scaled supplier of precision flight, space and defense hardware. The combined company brings complementary capabilities in metal, composite and polymer manufacturing, more than 1,300 employees across nine locations in five states, and 1.3 million square feet of production and integration facilities to serve military, commercial aerospace and space customers.

Arcline Investment Management, a growth-oriented private equity firm, completed a strategic investment in American Casting Company (ACC), a Hollister, California-based provider of engineered investment castings for aerospace, defense, medical and energy applications. ACC will continue to be led by CEO Chris St. John; Arcline plans to support expansion of the company’s capabilities and capacity to meet rising demand from OEMs reshoring mission‑critical components. Janes Capital Partners served as financial advisor to the company.

ONE Bow River National Defense Fund made a strategic growth investment in Odyssey Space Research, a provider of spaceflight software and engineering services. The investment will support Odyssey's growth with government and commercial customers, and fund expansion into new mission areas and continued development of proprietary tools and software.

Torque Capital Group has acquired Joe Gibbs Manufacturing Solutions from Joe Gibbs Racing and rebranded the business as JGA Space & Defense. The company will focus on supplying advanced specialty composites, precision-machined aerospace and defense components, and rocket propulsion assemblies, and will expand into a ~60,000 sq. ft. facility in Huntersville, North Carolina to support growth into the space and defense supply chain.

Warburg Pincus has acquired Topcast Aviation Supplies Company Limited, the largest independent distributor of civil aircraft parts and MRO service provider in the Asia Pacific, headquartered in Hong Kong. The buyout positions Warburg Pincus to deepen its aviation portfolio and support Topcast’s next phase of growth by expanding capabilities, digital infrastructure, and global supplier and customer relationships.

Prime Appearance acquired Immaculate Flight in a stock deal, combining two leading providers of aircraft appearance and detailing services to expand nationwide coverage. The acquisition adds Immaculate Flight’s operations at more than 200 airports and will be integrated and rebranded under the Prime Appearance brand, expanding service coverage in markets including Atlanta, Austin, Seattle, Nashville, South Florida, Southern California, the Bay Area, and throughout Texas.

Chicago-based private equity firm McNally Capital has merged its portfolio company Quiet Professionals with Tampa-based Spathe Systems to form a new defense technology platform aimed at supporting U.S. Special Operations Forces and the broader national security community. Quiet Professionals CEO Andy Wilson will lead the combined company (which will operate under a new name) to expand capabilities across cybersecurity, intelligence, cloud services and advanced analytics. McNally partnered with Nio Advisors on the transactions; Raymond James and Ropes Gray served as McNally's financial and legal advisers, respectively.

Indigenous-owned Flowing River Capital Partners has acquired Marshall Land Systems, a deployable defence-systems manufacturer, in a transaction completed Nov. 21, 2025. The deal transfers ownership from the Marshall Group and positions Flowing River to expand its defence portfolio, accelerate Marshall's global growth, and strengthen Canada’s defence industrial base while advancing Indigenous economic reconciliation.

Voyager Technologies (NYSE: VOYG) has acquired Estes Energetics, a U.S. manufacturer of energetics, propulsion materials and specialized chemical compounds used in missile defense and tactical munitions. The deal gives Voyager vertical control over production, certification and surge capacity for critical energetics, strengthening domestic propulsion capabilities for defense, space and national security customers.

Groupe HLD (HLD Europe) acquired Photonis Group (rebranded Exosens) from Ardian in 2021 in a reported €370 million buyout. Under HLD ownership Exosens expanded through nearly ten add-on acquisitions, grew to roughly 1,600–1,900 employees with ~€394m turnover, and completed an IPO on Euronext Paris in June 2024.

Palladyne AI (NASDAQ: PDYN) acquired GuideTech LLC and two Crucis companies — Warnke Precision Machining and MKR Fabricators — to create a vertically integrated defense division, Palladyne Defense, combining embodied AI, avionics engineering and U.S.-based precision manufacturing. The combined transaction (~$31M purchase consideration plus earnout potential) is expected to materially increase Palladyne's revenue and provide immediate production capacity and defense programs revenue.

ARMADA Parent Inc., a PE-backed maritime and defense services platform majority owned by Carlyle and Stellex Capital Management, has acquired Poseidon Industrial LLC. The acquisition strengthens ARMADA's ship repair, modernization, and systems-integration capabilities to better support U.S. Navy and defense programs.

Jet Parts Engineering (a Vance Street Capital portfolio company) has acquired Cima Aviation, an MRO specialist in fuel and hydraulic component repairs. The add-on expands JPE's aftermarket capabilities and shortens turnaround times for commercial, cargo, regional, and military aircraft customers.

Atlantic Aviation has acquired Jet Center at Santa Fe, a full-service FBO at Santa Fe Regional Airport, adding approximately 16.5 acres of ramp space, a modern executive terminal and ~50,000 sq. ft. of heated hangar space to its network. The facility immediately begins operating as Atlantic Aviation and expands the operator's presence in New Mexico as part of its strategy to add high-quality FBO locations.

XTI Aerospace acquired Drone Nerds, a major U.S. drone distributor and service provider, in a transaction announced in November 2025 that included approximately $40 million in purchase consideration. Concurrently, Unusual Machines made a $25 million strategic investment in XTI via convertible preferred stock to support XTI's expansion of vertical flight and unmanned aircraft systems (UAS) capabilities.

Anduril Industries has acquired American Infrared Solutions (AIRS), a U.S.-based manufacturer of cooled infrared cameras and components. Terms were not disclosed; Anduril says AIRS will continue to serve customers from its New Hampshire facilities while AIRS hardware is integrated into Anduril's sensing and imaging product families.

Veryon has acquired EBIS from Tronair to expand its aviation maintenance software portfolio and add ground support equipment (GSE) asset management capabilities. The deal integrates EBIS’s MRO and GSE maintenance management solutions into Veryon’s platform to provide a unified, AI-driven maintenance and asset management offering for airlines, FBOs, Part 145 repair stations, and other operators.

Sigma Advanced Systems UK Ltd has acquired Nasmyth Group, a UK-based precision engineering supplier to the aerospace and defence sectors. The acquisition will provide Nasmyth with additional capacity and strategic support from Sigma to drive innovation, international expansion and increased capability to serve Tier‑1 OEMs.

Canopy Aerospace & Defense, a portfolio company of Trive Capital, has acquired Tods Technology Ltd., a Portland, Dorset-based designer and manufacturer of advanced composite structures and acoustic materials for the maritime defense sector. The add-on acquisition expands Canopy A&D's technical capabilities in sonar domes and acoustic enclosures, strengthens transatlantic supply-chain resilience, and will see Tods operate under the Canopy A&D umbrella with further investment in infrastructure and people.

AAR Corp. has acquired HAECO Americas from HAECO Group for $78 million in cash, expanding AAR's heavy maintenance footprint with two facilities in Greensboro, North Carolina and Lake City, Florida. The deal adds roughly 1,600 employees and comes with multi-year heavy maintenance contracts worth over $850 million, which effectively sell out the acquired facilities and support AAR's Repair & Engineering growth strategy.

Valence Surface Technologies, the largest independent aerospace surface finishing platform in North America, acquired Foresight Finishing, a Tempe, Arizona-based provider of precious metal surface treatment for aerospace and defense electronics. The add-on expands Valence's capabilities in tight-tolerance precious metal plating and provides regional presence in the A&D electronics supply chain; financial terms were not disclosed.

Los Angeles-based Aero Products Company has acquired Third Stone Inc., an aerospace fabric and sewn-assemblies specialist based in San Diego, California. Third Stone will operate as a division of Aero Products Company to expand sewn-fabric, materials and related manufacturing capabilities for commercial, space and defense aerospace programs.

Voyager Technologies (NYSE: VOYG) has acquired ExoTerra Resource, a developer of advanced electric propulsion systems, to strengthen U.S.-based propulsion capabilities for defense and commercial space markets. The deal gives Voyager ExoTerra's Halo thruster technology and existing contracts (including DARPA and NASA work), enabling expanded domestic manufacturing and improved mission-critical propulsion offerings.

Teledyne Technologies has completed the acquisition of the TransponderTech business from Saab AB. The unit — to be marketed as FLIR TransponderTech (Teledyne FLIR TransponderTech AB) and based near Linköping, Sweden — will join Teledyne’s maritime brands to expand its AIS, VDES and GNSS communications and navigation offerings for civil and military markets.

Ondas Holdings has acquired a controlling interest in Israel-based Insight Intelligent Sensors to strengthen its AI-driven electro-optical sensing capabilities and integrate the company's Smart Imaging Module into Ondas' autonomous systems. The deal advances Ondas' strategy to unify sensing, autonomy, and communications across its Ondas Autonomous Systems platforms for defense, homeland security, and environmental resilience markets.

Karman Space & Defense (NYSE: KRMN) acquired Five Axis Industries, an Arlington, Washington-based supplier of advanced nozzle and fuel system subsystems, for $83 million in cash plus approximately $5 million in Karman shares (about $88 million total). The acquisition, which closed October 28, 2025, expands Karman's propulsion and launch-system capabilities by adding proprietary nozzle, spun-form and 3D-printed Inconel technologies and was funded in part by an increase to Karman's Term Loan B.

Hughes Network Systems, an EchoStar company, has acquired Anderson Connectivity, an aerospace design, engineering and manufacturing firm based in Melbourne, Florida. The deal brings engineering talent, FAA Part 145-certified repair capabilities and a Melbourne facility (pursuing Part 21 certification) into Hughes’ aviation, space and defense portfolio; founder Brian Anderson will join Hughes as Vice President, Aviation Technology & Innovation Officer.

Parris Javaid, Inc., parent company of Parraid, LLC, has acquired DesignLinx Hardware Solutions, an award-winning FPGA and embedded systems engineering firm. The acquisition is intended to expand Parraid's FPGA and embedded software capabilities and consolidate engineering teams to accelerate development of next-generation telemetry and communications products.

H.I.G. Capital has completed the acquisition of a majority stake in A.L.A. S.p.A., an Italy‑based provider of mission‑critical logistics and distribution services to aerospace and defense manufacturers. The founding families, including co‑founders Fulvio Scannapieco and Vittorio Genna, will retain a significant minority stake as H.I.G. partners with the management to accelerate ALA's growth and strengthen its global supply‑chain position.

Anduril Industries has acquired American Infrared Solutions (AIRS), a U.S.-based developer and manufacturer of cooled thermal/infrared camera systems. The deal brings in-house infrared sensor and camera manufacturing capabilities to support Anduril's defense and autonomous systems; terms were not disclosed.

Astronics Corporation (Nasdaq: ATRO) has acquired Bühler Motor Aviation (BMA) from Bühler Motor Group in an all-cash transaction. BMA, based in Uhldingen-Mühlhofen, Germany, manufactures aircraft seat actuation systems and is expected to generate about $22 million in revenue in 2026; Astronics says the acquisition augments its motion control solutions and complements its PGA subsidiary.

Sigma Defense Systems has acquired Aries Defense to expand its tactical-edge ISR and CJADC2 capabilities by integrating Aries' field-proven video and sensor integration products into Sigma's Olympus DevSecOps ecosystem. The deal strengthens real-time ISR capture, networking, and distribution for scalable UAV and unattended sensor operations, improving situational awareness for U.S. defense customers.

DC Capital Partners has acquired Aeronautical & General Instruments Limited (AGI), a UK-based provider of integrated maritime technologies and systems, from Trident Maritime Systems (a portfolio company of investment affiliates of J.F. Lehman & Company). The transaction will spin AGI out to operate independently under DC Capital, which plans strategic investments in technology, engineering talent and infrastructure to expand AGI’s capabilities and global reach in support of naval and maritime customers.

flyExclusive has entered into a structured agreement with Volato Group, Inc. to acquire Volato's aircraft sales division for $2.1 million of FLYX stock and secured rights to acquire the Vaunt platform and Mission Control software for an additional $2.0 million of FLYX stock. The deal transfers the sales division immediately and gives flyExclusive flexibility to bring high-growth travel and flight-management technology platforms fully in-house to support vertical integration and capability expansion.

TransDigm Group completed its acquisition of the Simmonds Precision Products business of Goodrich from RTX Corporation for approximately $765 million in cash. Simmonds, headquartered in Vergennes, Vermont, is a designer and manufacturer of fuel & proximity sensing and structural health monitoring solutions for aerospace and defense, is expected to generate about $350 million in 2025 revenue and employs roughly 900 people. TransDigm financed the acquisition with cash on hand.

Intuitive Machines completed its acquisition of KinetX, a deep space navigation and systems engineering firm, in a stock transaction valued at $30 million before closing adjustments (approximately $15 million cash plus ~1,400,000 shares). The deal integrates KinetX's NASA-certified deep-space navigation and mission design expertise with Intuitive Machines' lunar-proven spacecraft and data services, expanding the buyer's capabilities and infrastructure footprint across key U.S. locations.

AAR CORP. acquired American Distributors Holding Co., LLC (ADI) for $146 million in an all-cash transaction funded via AAR's existing revolving credit facility. ADI, a distributor of high-performance electronic components and provider of supply chain and manufacturing services headquartered in Randolph, New Jersey with ~400 employees and six locations across the US, UK, and India, will join AAR's Parts Supply segment to expand new parts distribution, OEM relationships, and drive margin improvement.

Vitesse Systems, a Trive Capital-backed aerospace and defense platform, has acquired Spacetime Engineering, a provider of high-performance ground antenna feeds for satellite and gateway systems. The acquisition expands Vitesse’s multi-band antenna capabilities and positions the combined company to deliver broader, faster communications solutions to military and commercial satellite customers.

V2X, Inc. (NYSE: VVX) completed the acquisition of QinetiQ’s U.S. Intelligence business for approximately $24 million (net of estimated tax benefits). The deal brings roughly 70 intelligence, data engineering, and cyber professionals into V2X and expands the company's capabilities and access to critical national security programs.

Fairbanks Morse Defense, a portfolio company of Arcline Investment Management, has acquired Vestdavit, a Bergen-based supplier of davits and advanced boat-handling systems, from its four owners for an undisclosed amount. The deal expands FMD's marine handling and OEM capabilities and adds Vestdavit's manufacturing site in Poland plus service centers in the Netherlands and Seattle to FMD's global footprint.

Expedition Technology has received a strategic growth investment from Razor's Edge and Enlightenment Capital to accelerate the company's AI/ML-powered C5ISR, signals, and geospatial intelligence capabilities. The partnership will support scaling Expedition's offerings to the Intelligence Community and Department of Defense.

Safran Defense & Space, Inc. (Safran DSI) has acquired Attollo Engineering, a Camarillo, California-based developer of shortwave and midwave infrared imaging and laser sensing systems with about 60 employees. The acquisition will strengthen Safran DSI's advanced imaging and sensing capabilities for defense, aerospace and commercial customers; Attollo will continue operating in Camarillo and supply sensors and subsystems as a merchant supplier.

Trive Capital has launched Canopy Aerospace & Defense, a newly formed advanced materials platform that combines Hera Technologies Inc. and MSM Industries Inc. The Dallas-based private equity firm intends the vertically integrated platform to provide advanced insulative, absorptive and signature-reduction materials plus R&D and refurbishment services to aerospace, space and defense OEMs.

Main Street Capital Corporation completed a $45.0 million investment to facilitate a minority recapitalization of an unnamed, Southeastern U.S.-based specialty aircraft distributor. The transaction provides liquidity to the Company's CEO (the sole owner) and consists of first lien senior secured debt plus a direct minority equity investment.