Aerospace & Defense Acquisitions in Texas

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.

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.

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.

Wisk Aero, a wholly-owned Boeing subsidiary, announced that SkyGrid will become a subsidiary of Wisk to deepen collaboration on airspace integration and autonomy for advanced air mobility. SkyGrid will provide digital airspace integration, real-time situational awareness, and air traffic management automation capabilities to support Wisk's development and future operations of autonomous eVTOL aircraft.

REPKON USA has acquired the GD-OTS Garland Operations, a 38-acre General Dynamics manufacturing facility in Garland, Texas, expanding its heavy manufacturing footprint for defense and aerospace metal parts. The deal strengthens REPKON USA's capabilities to support U.S. Department of Defense and allied contracts and reinforces its role in modernizing the U.S. and NATO defense industrial bases.

Coltala Holdings has acquired AeroParts Group (APG), a Mansfield, Texas-based aircraft MRO and composite repair services provider, and established Coltala Aerospace. Thornburg Bow River Advisers’ Private Credit team provided financing to support the transaction as Coltala builds a platform to expand aerospace and defense maintenance, repair and precision machining capabilities in the Dallas–Fort Worth region.

Aechelon Technology, a Sagewind Capital platform company, acquired the Radar Simulation Division of Compro Computer Services, including the Radar Toolkit (RTK) and all associated assets, contracts, software, IP, facilities and personnel. The division — based in Dallas, Texas — will be integrated into Aechelon's newly-established Radar Division to expand radar simulation capabilities and tightly integrate RTK with Aechelon's GPU-based Radar Data Generators (RDGs).

MACOM Technology Solutions Holdings, Inc. acquired ENGIN-IC, a fabless semiconductor design firm specializing in GaN MMICs and integrated microwave assemblies. The acquisition (funded with cash on hand) adds ENGIN-IC’s defense-focused MMIC and module design capabilities to MACOM’s portfolio to strengthen product offerings and support target markets.

Argentum, a New York–based growth equity firm, has made a minority growth equity investment in L2 Aviation to expand production capacity, broaden capabilities, and support strategic acquisitions. Daniel Raynor of Argentum will join L2 Aviation’s board as the company pursues organic growth and a buy-and-build strategy in the avionics aftermarket.

Dover Corporation has acquired Criteria Labs, an Austin-based provider of RF device and microelectronic engineering, assembly and testing services. The business will join Dover's Microwave Products Group within its Engineered Products segment to expand capabilities for size, weight and power (SWaP)-sensitive applications across aerospace, defense, semiconductor, automotive and medical end markets.

IFS, a global provider of Industrial AI cloud software, has acquired EmpowerMX, an AI-powered aviation maintenance (MRO) software provider based in Frisco, Texas. The deal expands IFS's aerospace & defense capabilities by adding EmpowerMX's MRO technology to IFS's Industrial AI offerings to improve maintenance efficiency, reduce turnaround times, and enhance compliance for large airlines and MRO providers.

Gilat Satellite Networks has acquired Stellar Blu Solutions, a U.S.-based provider of next-generation ESA-based SATCOM terminals for in-flight connectivity. Gilat paid $98 million at closing with up to $147 million of additional contingent cash payments tied to post-closing milestones; the deal strengthens Gilat's capabilities and market position in the commercial and business aviation IFC market.

Cerberus Capital Management has acquired a controlling interest in M1 Support Services, a Denton, Texas–based provider of aircraft MRO, modification, flight training, logistics and supply chain services to the U.S. government. Under Cerberus' ownership M1 will invest in infrastructure and expand capabilities to support mission-critical aviation programs; long-time executives Kathy Hildreth and Bill Shelt remain investors and George Krivo has been appointed CEO.

Luxaviation Group has completed the full acquisition of Paragon Aviation Group, integrating Paragon’s network of FBOs and international handling agents into Luxaviation’s global business aviation platform. The deal expands Luxaviation’s fixed-base operator (FBO) network to over 140 locations and strengthens its global service offerings for general and business aviation customers.

Edgewater Growth Capital Partners V, L.P. led an investment in Turbine Engine Specialists (TES), a Fort Worth, Texas–based aftermarket provider of turbine engine MRO, rental and parts distribution for the global private aviation market. The transaction includes co-investors Banbury Private Capital, HF Capital and existing investor Killick Capital; TES will retain its full leadership team as the investors provide capital to support the company’s growth initiatives.

TRM Equity II acquired substantially all of the assets of Gamma Aerospace, LLC on March 2, 2023. Gamma Aerospace, a Mansfield, Texas-based manufacturer of multi-contoured formed and multi-axis machined aerospace components with three production facilities and over 200 employees, will be operated by TRM with a focus on operational improvement and stabilizing performance amid post-COVID supply and labor challenges.

New State Aviation Holdings, a general aviation platform sponsored by New State Capital Partners, has acquired Blackhawk Aerospace, a Waco, Texas-based leader in turboprop engine upgrades and aircraft performance improvements. Blackhawk will join NS Aviation's aviation portfolio alongside AVEX and continue to operate independently with its management team remaining in place; terms were not disclosed.

Elliott Aviation, a portfolio company of Summit Park, has completed the acquisition of Four Points Aero Services, a full-service aircraft repair (MRO) facility located at Dallas Love Field in Dallas, Texas. The add-on expands Elliott's MRO footprint in the U.S. and strengthens its airframe and avionics maintenance capabilities in the Texas market.

The Jordan Company (TJC) announced a strategic investment in Communications & Power Industries (CPI), a global manufacturer of electronic components, subsystems and antenna systems serving communications, government and medical markets. TJC will partner with CPI to accelerate growth and pursue synergistic acquisitions while supporting the company's product development and operational scaling.

Precision Aviation Group (PAG), a GenNx360 portfolio company, has acquired Velocity Aerospace Group, a Frisco, Texas-based provider of aviation MRO and manufacturing services. The deal adds three FAA repair stations in Burbank, Van Nuys and Ft. Lauderdale, brings roughly 140 employees, over 110,000 square feet of facilities and expands PAG's avionics, DER repair and manufacturing capabilities.

FDH Aero has acquired Calco Aerospace (Calco Industries, LLC) from founders Charlie and Lisa Gralapp, strengthening FDH's presence in the military rotorcraft supply chain. The deal positions FDH to accelerate growth with new and existing OEM and aftermarket customers and complements the company's prior acquisitions while remaining under Audax Private Equity-backed ownership.

Dover Corporation has completed the acquisition of The Espy Corporation, a developer and manufacturer of radio frequency (RF) signal intelligence (SIGINT) systems and integrated software. Espy will join Dover’s Microwave Products Group within the Engineered Products segment to expand Dover’s RF sensing, geolocation and machine‑learning capabilities for defense and other markets.

FDH Aero has acquired Madison Aerospace, a Haltom City, Texas-based distributor of aerospace hardware focused on the OEM market. The deal expands FDH's product offerings and strengthens its footprint in the Texas aerospace production supply chain; Madison's leadership (Brian and Craig Hutchins) will continue to run operations. Audax Private Equity is the sponsor behind FDH (FDH has completed multiple add-ons since Audax's 2017 investment).

InVeris Training Solutions has acquired SURVIVR, a Dallas-based public benefit corporation that develops virtual reality police training systems. The deal will integrate SURVIVR's VR technology and patented capabilities into InVeris' VR-DT and BlueFire training solutions to expand immersive, scenario-based training for law enforcement and defense customers.

Arlington Capital Partners completed the acquisition of Triumph Group, Inc.'s composites business and has established the business as Qarbon Aerospace. The newly independent company will operate large composite manufacturing facilities in Red Oak, Texas; Milledgeville, Georgia; and Rayong, Thailand, positioning it as a specialized aerostructures supplier to commercial, defense and business-jet OEMs.

Spirit AeroSystems (NYSE: SPR) acquired the assets of Applied Aerodynamics, a composite MRO provider based in Farmers Branch, Texas. The acquisition expands Spirit’s aftermarket and composite repair capabilities, adding a 120,000-square-foot facility and workforce to improve turnaround times and broaden repair scope for commercial and defense customers.

Copley Equity Partners completed a growth investment in AeroMed Group to support AeroMed’s acquisition of etaGLOBAL, a Palestine, Texas-based distributor of aerospace class-C parts. Terms were not disclosed; Copley representatives will join AeroMed’s board as AeroMed pursues a buy-and-build strategy to create a market-leading A&D supply chain solutions platform.

Moog Inc. has acquired Genesys Aerosystems from McNally Capital and the Genesys management team. Genesys, a developer and manufacturer of integrated avionics systems (flight displays, radios, autopilots, sensors), will expand Moog's avionics and aircraft systems capabilities as part of Moog's precision control and systems portfolio.

Kratos Defense & Security Solutions acquired 5-D Systems, Inc., a CMMI Level 3 systems and software engineering firm with offices in the Austin (Round Rock), Texas area and Huntsville, Alabama. The acquisition adds systems/software engineering capability and CMMI pedigree to Kratos’ Unmanned Systems Division and establishes an engineering hub near key DoD customers in the Austin area.

GenNx360 Capital Partners' portfolio company AeroRepair Corp acquired Aero Tire and Tank, LLC, doing business as Dallas Centerline, as its first add-on since GenNx360's investment in December 2019. Dallas Centerline is a Dallas-based wheel and brake repair and overhaul provider serving commercial, corporate and military aviation; the acquisition expands AeroRepair's component MRO capabilities and strengthens its presence in the South and Southwestern United States.

ACR Group, a portfolio company of private equity firm The Jordan Company, has acquired FreeFlight Systems, a Texas-based designer and manufacturer of avionics systems for commercial and military aerospace customers. FreeFlight will operate as an independent subsidiary within ACR Group’s aviation portfolio; financial terms were not disclosed.

An investor group led by Route 2 Capital Partners and Alturus Capital (through a newly formed vehicle, Reliance Aircraft International, LLC, alongside Andrew Cohen and Terry Hix) completed a strategic investment in Reliance Aircraft International, Inc. The capital will support RAI's aftermarket commercial and military airframe/engine parts platform, enabling asset purchases, expansion into new product lines, and potential add-on acquisitions; RAI will remain headquartered in Austin, Texas and be managed by Terry Hix and Andrew Cohen.

Jet Parts Engineering LLC, a portfolio company of Vance Street Capital, has acquired Aero Parts Mart, Inc., a Fort Worth-based manufacturer of FAA-approved PMA replacement components. The transaction — the first strategic add-on for Jet Parts since partnering with Vance Street — expands the platform’s PMA catalogue (APM brings over 250 PMAs) to a combined offering of more than 1,300 PMAs; terms were not disclosed and debt financing was provided by Neuberger Berman.

CTCOA LLC d/b/a Olympic Aviation, a portfolio company of The Anderson Group, acquired the assets of Mayday Aviation. The add-on acquisition will integrate Mayday's hard-to-find aircraft fasteners and parts into Olympic Aviation's Cerritos, California distribution facility to expand product offerings and grow Olympic's domestic aerospace customer base.

Methuen-based kSARIA Corporation, a Behrman Capital portfolio company, has acquired Co-Operative Industries Aerospace & Defense (CIA&D), an AS9100-registered manufacturer of wiring harnesses and interconnect products headquartered in Fort Worth, Texas. The deal is intended to broaden kSARIA's connectivity product offering and create cross-selling opportunities by combining kSARIA's fiber-optic strengths with CIA&D's electrical interconnect and MRO capabilities.

AirMap acquired Hangar Technology, a drone workflow automation platform, to expand its enterprise-focused airspace management capabilities and integrate high-precision flight planning and automated image processing into its platform. Hangar will retain its headquarters and team in Austin, Texas, while its JobSight and TowerSight products gain access to AirMap's international developer and enterprise ecosystem.

Onex Corporation has completed its investment in Advanced Integration Technology (AIT), a provider of automation and tooling, maintenance services and aircraft components to the aerospace industry. The deal is the first investment from Onex Partners IV and expands Onex’s exposure to aerospace manufacturing and automation capabilities.