Advent Agrees to Acquire Coherent Aerospace and Defense Business

II-VI Incorporated to Acquire Coherent, Inc. in Cash-and-Stock Deal

July 1, 2022

Industrial Services

II-VI Incorporated entered into an acquisition of Coherent, Inc. in a cash-and-stock transaction valued at about $6.3 billion. Under the terms, each Coherent share was exchanged for $220.00 in cash and 0.91 shares of II-VI common stock, with the deal expected to close in Q4 2021 and subject to customary approvals. II-VI later announced the acquisition completed, forming a global leader in materials, networking, and lasers.

Honeywell to Acquire CAES Systems Holdings from Advent International for $1.9 Billion

June 23, 2024

Aerospace & Defense

Honeywell agreed to acquire CAES Systems Holdings LLC (CAES) from Advent International in an approximately $1.9 billion all-cash transaction. The acquisition is intended to expand Honeywell’s defense technology capabilities across land, sea, air, and space—particularly in radio-frequency (RF) signal management, radar, and sensing technologies—using CAES’s scalable RF offerings and production base.

Advent International and BCI Complete Acquisition of Maxar Technologies

May 3, 2023

Aerospace & Defense

Advent International, together with minority investor British Columbia Investment Management Corporation (BCI), completed the acquisition of Maxar Technologies. The deal was announced in December 2022 as an all-cash transaction valuing Maxar at approximately $6.4 billion ($53.00 per share) and has now closed, taking Maxar private and ending its stock exchange listings.

HARMAN to Acquire ZF Group’s ADAS Business for €1.5 Billion

December 23, 2025

Automotive

HARMAN, a wholly owned subsidiary of Samsung Electronics, has signed a definitive agreement to acquire ZF Group’s Advanced Driver Assistance Systems (ADAS) business for €1.5 billion. The acquired ADAS capabilities (compute solutions, smart cameras, radars, and ADAS software) will be integrated into HARMAN’s centralized compute and digital cockpit roadmap for software-defined vehicle architectures.

Advent to Acquire Sapiens for $2.5 Billion

August 13, 2025

Cloud & SaaS

Sapiens International Corporation N.V. has entered into a definitive agreement to be acquired by Advent in an all-cash deal valuing Sapiens at approximately $2.5 billion. Sapiens shareholders will receive $43.50 per share in cash, representing about a 64% premium, and Sapiens will become privately held after closing.

Falfurrias Acquires Coherent Technical Services; EXPANSIA and JHNA Merge into New Defense Technology Platform

January 20, 2026

Aerospace & Defense

Falfurrias Capital Partners has acquired Coherent Technical Services, Inc. (CTSi) and is combining CTSi with EXPANSIA and John H. Northrop & Associates (JHNA) to form a new defense technology platform backed by Falfurrias. The combined organization brings together avionics and systems integration, digital engineering, AI/autonomy and advanced prototyping capabilities (including CTSi's patented MudBucket) to support U.S. defense and government customers.