Aerospace & Defense Acquisitions in Arizona

Cadre Holdings, Inc. (NYSE: CDRE) has completed its acquisition of TYR Tactical, a global manufacturer of tactical gear for military, law enforcement, and government agencies. The deal consideration included $120 million in cash, $24 million in Cadre common stock, $1 million in RSUs for certain TYR employees, and up to $25 million in earn-out consideration, and Cadre separately acquired certain real property from a TYR affiliate for $30 million.

Arxis, a portfolio company of Arcline Investment Management, has acquired Micro-Tronics, Inc., a Tempe, Arizona-based manufacturer of engineered elastomeric and metallic components for commercial aerospace and defense applications. The add-on strengthens Arxis' Mechanical Components segment by adding MTI's elastomeric diaphragm, seal assembly and high-precision EDM capabilities to support mission-critical aerospace and defense programs.

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.

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.

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.

Rocket Lab Corporation has completed the acquisition of the parent holding company of Geost, LLC from Lightridge Solutions (a portfolio company of ATL Partners) for $275 million before closing adjustments — comprising approximately $125 million in cash and 3,057,588 shares of Rocket Lab common stock, plus a potential earnout of up to $50 million. The deal brings Geost's electro-optical and infrared (EO/IR) sensor payload capabilities and manufacturing facilities into Rocket Lab, expanding its national security space capabilities and U.S. footprint (Arizona and Virginia).

AE Industrial Partners has acquired Air Transport Components (ATC), a provider of aircraft component maintenance, repair, and overhaul (MRO) services, to serve as the cornerstone of a new aerospace MRO platform. The investment positions the platform to expand component repair capabilities across commercial, cargo, and military markets and pursue organic growth and further acquisitions; financial terms were not disclosed.

AirTera (the service mark of NATA Compliance Services) has acquired Safety and Security Instruction (SSi), a Phoenix-based provider of aviation-specific learning management systems and training content. The acquisition integrates SSi's LMS and courseware into AirTera's identity, credentialing, safety and compliance platform to deliver a unified solution for airports, air operators and ground facilities.

The Blackhawk Group, a portfolio company of New State Capital Partners, has acquired the Maintenance, Repair, and Overhaul (MRO) business of Glendale Aero Services and will rebrand the operation as a Blackhawk Performance Center (BPC-Glendale). The acquisition expands The Blackhawk Group’s Performance Center network and adds specialized Cirrus SR/Vision Jet and Cessna MRO, CAPS and avionics capabilities; Glendale’s Director of Maintenance, John Fisher, will remain in place. Terms were not disclosed.

Snow Peak Capital, a Broomfield, Colorado-based private equity firm, has acquired TurbineAero, the world's largest independent APU MRO provider, from The Gores Group. Financial terms were not disclosed; Snow Peak said it will partner with TurbineAero's management to invest in growth and expand the company's global MRO capabilities.

Precise Systems, a portfolio company of Bluestone Investment Partners, has acquired Tucson Embedded Systems (TES), a Tucson, Arizona-based hardware and software engineering firm specializing in model-based engineering and open-architecture avionics standards (FACE, SOSA). The acquisition is an add-on to Precise's Bluestone-backed platform, expanding its advanced engineering capabilities and bringing TES's proprietary AWESUM tool suite and SBIR-backed HOST Harmony test station into the platform.

Weinberg Capital Group and its portfolio company Salt River Aviation have acquired Aviocraft, an FAA Part 145–certified MRO provider based in Chandler, Arizona. The add-on expands Salt River Aviation's repair and overhaul capabilities for aircraft batteries, chargers, communications equipment, galleys, relays and other accessories.

Thompson Capital Partners (TCP) has acquired Evaero, Inc., a Tucson-based supplier of mission-critical aerospace and defense components. Evaero's president and second-generation owner, Christian Frueh, will remain in his role as the business is positioned as an add-on to TCP's portfolio company AID Aerospace to expand end-to-end manufacturing and finishing capabilities for aerospace customers.

kSARIA Corporation, a portfolio company of Behrman Capital, has acquired Charles E. Gillman Company, an ISO9100-registered manufacturer of high-reliability electrical cables and wire harnesses headquartered in Rio Rico, Arizona (with operations in Nogales, Mexico). The add-on expands kSARIA's mission-critical connectivity product portfolio and manufacturing footprint in Mexico to better serve military, medical, and transportation OEM customers; financial terms were not disclosed.

Trexon, a portfolio company of Audax Private Equity, has completed the acquisition of C.E. Precision Assemblies, Inc. (CEPA), a Chandler, Arizona-based manufacturer of RF/microwave cable assemblies, wire harnesses, and electromechanical solutions. The add-on expands Trexon's Engineered Products group's capabilities and strengthens its presence in military and aerospace end markets; the business was sold by former owner Paul Ross.

Bain Capital Special Situations has made a growth investment in KP Aviation, purchasing the interests held by Balmoral Funds LLC to support KP Aviation's global expansion. Financial terms were not disclosed; founder and CEO Kim Schulze will remain in place and retain a significant ownership stake as Bain partners with management to scale the aftermarket aviation platform.

Point Blank Enterprises has acquired Safe, Inc., a Tempe, Arizona-based engineering and product development firm specializing in crashworthy pilot and crew seating and safety systems. The acquisition expands Point Blank’s aerospace protection capabilities, adding Safe’s crashworthiness engineering, prototyping and testing resources to support DoD, NASA and other government and defense contractors.

JETNET, a Silversmith Capital Partners–backed provider of aviation data and market intelligence, has acquired ADS-B Exchange, a widely used network of ADS-B/Mode S/MLAT feeders and supplier of real-time and historical flight data. The deal expands JETNET's flight-data capabilities and product offerings for MRO, airport operations, leasing and other aviation end markets; ADS-B Exchange will continue to serve both enthusiast and commercial customers.

Dedrone, a market leader in smart airspace security, has acquired Aerial Armor, a counterdrone systems provider and integrator based in Arizona. The acquisition will combine Aerial Armor's detection hardware integration capabilities with Dedrone's C2 counter-UAS platform to expand Dedrone's capability set and better serve government, airports, and critical infrastructure customers.

Unical Aviation Inc. has acquired CAVU Component Repair LLC, the FAA-approved Part 145 repair-station operations from CAVU Aerospace. The Mesa, Arizona facility (80,000 sq ft) expands Unical's third-party component repair capabilities; financial terms were not disclosed. Unical is PE-backed by Platinum Equity.

Siemens Digital Industries Software has agreed to acquire ZONA Technology, Inc., a specialist in aeroelastic simulation solutions, to integrate its capabilities into the Simcenter/Xcelerator portfolio. The deal (terms undisclosed) is intended to expand Siemens' simulation capabilities for airframe design and certification and was expected to close in the second half of 2022.

SK AeroSafety Group, a portfolio company of Levine Leichtman Capital Partners, has acquired Fire-Tec Aero Systems LLC, a Phoenix-based MRO specialist in aircraft fire extinguishers, oxygen bottles and emergency power equipment that serves over 350 customers. The deal expands SK's specialist fire safety capabilities and accelerates its growth and presence in the U.S. market; Fire-Tec's management will remain in place.

CMI Group, a Gallant Capital Partners-backed aerospace components manufacturer, has acquired Systems 3, a Phoenix-based maker of flight‑critical precision parts for rotary‑wing and other aerospace OEMs. The deal (financed by Monroe Capital) expands CMI’s scale and technical capabilities, positioning it as a leading A&D-focused manufacturer of precision components and assemblies in the Southwest.

New York-based private equity firm ATL Partners has made a majority investment in GEOST, a Tucson, Arizona designer and integrator of small-to-medium electro-optical/infrared sensors for national security space missions. ATL plans to scale GEOST through organic growth, new production capacity and strategic bolt-on acquisitions to expand the company's product capabilities in space domain awareness and related subsystems.

Phantom Space Corporation has acquired StratSpace, a 20-year space systems consultancy and satellite systems engineering firm, to expand Phantom's capabilities across satellite design, manufacturing support and space program management. The deal brings StratSpace's technical know-how and customer relationships (including NASA and major defense primes) into Phantom's vertically integrated offering of rockets, satellites and space data infrastructure.

Garmin International, Inc. acquired AeroData, Inc., a Scottsdale-based provider of aircraft performance software and services for commercial and business aviation. The deal expands Garmin’s commercial aviation and digital services capabilities by adding AeroData’s runway analysis, weight-and-balance, load planning and flight performance solutions; AeroData will continue operating from Scottsdale. Financial terms were not disclosed.

Arotech Corporation's Training and Simulation Division (ATSD), a portfolio company of Greenbriar Equity Group, has acquired Inter-Coastal Electronics, Inc. (ICE), a Mesa, Arizona–based designer and manufacturer of live training and test instrumentation systems. The acquisition adds vertically integrated manufacturing capability and expands ATSD's aviation training solutions, with ICE joining ATSD's FAAC business unit; ICE's president Shawn Kirkpatrick will remain in his role.

Gallant Capital Partners completed a recapitalization and growth investment in Cassavant Machining, partnering with founders Joe Cassavant Jr. and Ed Cassavant, who remain significant shareholders. Comvest Credit Partners (with TCW Group) provided a $92.2 million senior secured credit facility to support the transaction and refinance existing debt; Gallant plans to expand Cassavant's manufacturing capabilities and pursue organic growth and strategic acquisitions.

Global investment firm The Carlyle Group has completed its purchase of StandardAero from Veritas Capital. StandardAero is a global provider of engine and airframe maintenance, repair and overhaul (MRO) services with more than 6,000 employees across multiple continents; Carlyle said it will partner with StandardAero’s management to support the company’s continued growth and industry leadership.