Aerospace & Defense Acquisitions in Maryland

Auria, a Colorado Springs-based C3 software and solutions provider and portfolio company of Enlightenment Capital, has acquired RKF Engineering Solutions and Kythera Space Solutions, both headquartered in Bethesda, Maryland. The add-on acquisitions expand Auria's SATCOM engineering, spectrum management, and autonomous payload software capabilities to deliver end-to-end command, control, and communications (C3) solutions for U.S. Space Force, other government customers, and commercial SATCOM operators.

Parsons Corporation has acquired Maryland-based Chesapeake Technology International, Corp (CTI), a portfolio company of Bluestone Investment Partners, in a transaction valued at $89 million. The acquisition adds CTI's electromagnetic-warfare and all-domain solutions and its ~225 employees to Parsons' Defense & Intelligence business, strengthening Parsons' capabilities for Special Operations and INDOPACOM customers and is expected to be accretive to revenue and adjusted EPS.

VTG has acquired Triaplex, Inc., a Fulton, Maryland-based radio frequency and signals expertise provider, to bolster VTG’s cyber and signals intelligence capabilities and expand its Intelligence Community footprint. The deal is VTG’s fourth acquisition since receiving a majority investment from A&M Capital (Alvarez & Marsal Capital), underscoring the platform’s PE-backed growth strategy.

OceanSound Partners completed the acquisition of Antenna Research Associates, Inc. (ARA), a Laurel, Maryland-based designer and manufacturer of antennas and RF systems for aerospace and defense markets. Gladstone Capital Corporation exited its equity investment and prepaid its debt; financial terms were not disclosed. ARA's management will remain in operational roles and as investors while OceanSound aims to accelerate growth, expand RF capabilities, and pursue complementary acquisitions.

Thales Defense & Security, a division of Thales Group, has agreed to acquire Digital Receiver Technology (DRT) from Boeing for an undisclosed amount. The purchase transfers DRT's U.S. surveillance and signals-intelligence product capabilities and contracts to Thales as Boeing streamlines operations to focus on its core aviation and major defense businesses.

CM Equity Partners (CMEP) has acquired Sabre Systems, Inc. from its founder and majority owner. Sabre is a long-standing federal services and defense contractor providing systems engineering, cybersecurity, C5ISR and digital transformation services to the U.S. Department of Defense and federal civilian agencies; CMEP said it will partner with Sabre's management to broaden capabilities and grow the business.

Epiq Solutions, a portfolio company of The Veritas Capital Vantage Fund, L.P., has completed the acquisition of CyberRadio Solutions (CRS), a business unit of G3 Technologies. The deal adds high-performance RF receiver and signal-processing products to Epiq’s software-defined radio and space computing portfolio; CRS will continue to operate from Mount Airy, Maryland under its existing leadership. Financial terms were not disclosed.

BlueHalo will acquire Eqlipse Technologies, combining two Arlington Capital Partners portfolio companies to create a larger defense technology platform. The combined company will be headquartered in Arlington, Virginia, employ nearly 2,400 people across 11 states, approach $1 billion in annual revenue, and expand BlueHalo's capabilities in electronic warfare, cyber, SIGINT/OSINT, and advanced R&D; the deal is expected to close in Q1 2024.

BlueHalo, a portfolio company of Arlington Capital Partners, has acquired Ipsolon Research, a designer and manufacturer of ultra-small form factor software defined radios (SDRs). The acquisition will integrate Ipsolon's SDR hardware and software capabilities into BlueHalo's product portfolio to accelerate prototyping, expand capabilities for mission-critical defense applications, and better serve Department of Defense customers.

Funds affiliated with Madison Dearborn Partners have acquired T2S Solutions, a founder-owned provider of R&D, prototyping, engineering, integration, and technology products serving the U.S. Department of Defense, the Intelligence Community, and other U.S. government agencies. The T2S founders will retain a significant minority stake and continue to lead the company as MDP provides capital and industry expertise to accelerate R&D, bring products to lead production, and expand mission-focused capabilities.

SilverEdge Government Solutions, a Godspeed Capital-backed defense-focused platform, has acquired Gardetto Engineering, a Maryland-based engineering services firm specializing in digital signal processing, hardware design, and systems engineering. The acquisition strengthens SilverEdge's digital and hardware engineering capabilities to support U.S. Defense and Intelligence community customers; terms were not disclosed.

Castellum, Inc. (NYSE-American: CTM) has closed its acquisition of Global Technologies Management Resources, Inc. (GTMR), a government contractor based in Hollywood, Maryland, adding roughly $10 million of revenue and about 60 employees. The transaction is structured as a tax-free reorganization with a majority of the consideration in Castellum restricted common stock and is immediately accretive to Castellum's financial metrics while expanding its electronic warfare and cybersecurity capabilities near NAS Patuxent River.

Boecore, a Colorado Springs-based aerospace and defense engineering contractor, has acquired Orbit Logic, a Greenbelt, Maryland developer of mission planning and scheduling software for satellite ground systems. The deal, announced Feb. 13, will expand Boecore's footprint and software capabilities in the space sector; financial terms were not disclosed.

ACR Group has acquired TRX Systems, a Maryland-based developer of NEON GPS‑denied location and TRX Dismounted Assured PNT solutions. TRX will retain its management, products, brand and location; financial terms were not disclosed. The acquisition expands ACR Group’s assured position, navigation, and timing (PNT) capabilities for defense, public safety, and industrial customers.

Narda AcquisitionCo, Inc. (Narda-MITEQ), a portfolio company sponsored by J.F. Lehman & Company, has completed the acquisition of Intelligent RF Solutions, LLC (iRF), a designer, engineer and manufacturer of RF and microwave systems for SIGINT/ELINT/EW applications. iRF, headquartered in Sparks, Maryland and employing approximately 50 people, is the first add-on for the Narda-MITEQ platform under JFLCO; debt financing was provided by Barings Finance and Siemens Financial Services and iRF's management will remain in place.

BlueHalo, a portfolio company of Arlington Capital Partners, has acquired Asymmetrik Ltd., a developer of OSINT and intelligence-focused software tools. The deal expands BlueHalo's cyber and SIGINT capabilities by adding Asymmetrik's OSINT, AI/ML, blockchain analytics and real-time streaming analytics expertise and team (120+ employees) headquartered in Annapolis Junction, Maryland.

Rocket Lab USA, Inc. (Nasdaq: RKLB) completed the acquisition of Planetary Systems Corporation (PSC), a Maryland-based spacecraft separation systems and satellite dispenser manufacturer, for $42 million in cash plus 1,720,841 shares of common stock and a potential earnout of up to 956,023 additional shares. The deal (expected/closed in Q4 2021 per announcements) brings PSC's flight-proven separation hardware and its 25-person team into Rocket Lab's Space Systems division to expand Rocket Lab's end-to-end launch, spacecraft, and space-hardware capabilities.

Technology Service Corporation (TSC), an employee‑owned high-technology engineering company, has acquired Praxis Products, a provider of SIGINT and wireless solutions (FASTRAK) for defense and law enforcement customers. The acquisition expands TSC’s mission-critical hardware and software capabilities for federal and international customers; Chesapeake Corporate Advisors acted as exclusive financial advisor to Praxis Products.

BlueHalo, an Arlington Capital Partners-backed national security technology platform, has agreed to acquire Rockville, Maryland-based Intelligent Automation, Inc. (IAI). The acquisition brings IAI's AI/ML, cybersecurity, hypersonics, space, 5G, data analytics and RF/communications capabilities — including a large PhD-staff and IP portfolio — into BlueHalo to accelerate productization and expand technical capabilities for DoD and commercial customers.

Bluestone Investment Partners completed an investment in CTI, a developer of open-source command-and-control, electronic warfare, and cyber-spectral solutions for U.S. military and intelligence customers. The partnership will provide capital and strategic support to help CTI scale its open-architecture systems and expand its mission-focused offerings across Department of Defense and special operations customers.

QuantiTech LLC, a portfolio company of Sagewind Capital, has acquired Systems Engineering Group, Inc. (SEG) from Griffon Corporation. The acquisition strengthens QuantiTech's threat engineering, modeling & simulation, and missile defense capabilities to better serve U.S. government customers in missile defense, hypersonics and intelligence markets.

HEICO Corporation's Electronic Technologies Group acquired majority interests in Intelligent Devices, Inc. (ID) and Transformational Security, LLC (TS) from their founder-owner-managers for cash at closing plus potential earnouts. The two Columbia, Maryland-based technical surveillance countermeasures companies (approximately 50 employees combined) will continue operating from their existing location and will report into HEICO's Electronic Technologies Group to expand HEICO's TSCM capabilities for defense, intelligence and government customers.

Jacobs has completed its acquisition of KeyW, a Hanover, Maryland-based government cybersecurity and intelligence contractor. The transaction expands Jacobs' Aerospace, Technology and Nuclear (ATN) capabilities—adding KeyW's ISR, cyber, mission-critical IT and analytics expertise—to accelerate growth in high-value defense and space markets.