Aerospace, Defense & Space: Q1 2025 M&A Market Update
Published April 23, 2025
Overview
Meridian Capital’s Aerospace, Defense & Space team has extensive experience within the sector having completed 25+ transactions in the industry.
The coverage team possesses deep industry relationships with leading acquirers in the space and is up-to-date on the latest sector trends and considerations.
Meridian Capital is pleased to present its Q1 2025 Aerospace, Defense & Space M&A Market Update.
Defense Budget and Outlook
DoD Budget FY 2010 – FY 2025 ($B) 1*
DoD 2025 Budget Request (Major Weapon Systems) ($B)1***
DoD 2025 Budget Request (Major Weapon Systems by Mission Area Category) ($B)1***
Source: 1 Department of Defense
*Discretionary Budget Authority **FY 2024 Reflects Continuing Resolution ***Numbers may not add due to rounding
Commercial Build Rate and Backlogs Snapshot
Source: 1Airbus and Boeing Press Releases, 2FlightPlan, and Meridian Research
Select M&A Transactions
| Date | Target | Acquirer | Target Description |
|---|---|---|---|
| Apr-25 | Leggett & Platt (Aerospace Products Group) | Tinicum | Leggett & Platt’s Aerospace Products Group is a supplier of complex, highly engineered tube and duct assemblies for commercial and military aircraft platforms and space launch vehicles. |
| Mar-25 | L3 Harris (Commercial Aviation Solutions) | TJC | L3 Harris’ commercial aviation services business, providing pilot training, flight data analytics, avionics, and advanced air mobility products and services. |
| Mar-25 | Phased n Research | Radiance Technologies | Provider of radar technology solutions intended to advance radar systems and analytics. The Company specializes in high-fidelity physics-based modeling and big data analytics to innovate the radar industry. |
| Mar-25 | Kirkland Sales | Connor Industries (Argentum) | Manufacturer of custom foam products for aerospace, defense, and military applications. |
| Mar-25 | Votaw Precision Technologies | Cerberus Capital Management | Manufacturer of flight components intended for spaceflight, aerospace, defense and commercial end markets. |
| Mar-25 | Percival Aviation | Jet Parts Engineering | Manufacturer of aircraft interiors and associated equipment including seating, cabin equipment, and soft furnishings. |
| Mar-25 | Clearwater Engineering | Applegate EDM (CIC Partners) | Manufacturer of complex aerospace parts and precision assemblies. |
| Mar-25 | Idsi | Frontgrade (Veritas Capital) | Manufacturer of FRF and microwave amplifiers for the DoD. |
| Mar-25 | L&R Precision Tooling | AMG, Inc. | Manufacturer of machines and repair services intended for the aerospace and defense end markets. |
| Mar-25 | McCormick Stevenson | REPKON USA Holdings | Manufacturer of defense and aerospace systems including direct and indirect fire munitions, missile and rocket systems, and other naval systems. |
| Mar-25 | Kent Manufacturing | Sur-Seal (Heartwood Partners) | Manufacturer of custom pressure-sensitive adhesive components for various industries including aerospace. |
| Mar-25 | Quantum Space | Amvanova (Sporos Capital Partners) | Developer of a space platform designed to offer connectivity between Earth and space, The Company builds critical space infrastructure needed to expand the space economy. |
| Mar-25 | NeXolve Holding Company | Applied Aerospace Structures (Barings) | Provider of advanced technology and engineering services for the development of high-performance materials and hardware for NASA, the DoD, and commercial companies. |
| Mar-25 | EMCORE | Velocity One (Launch Point Partners) | Provider of sensors and navigation systems for the aerospace and defense markets. |
| Mar-25 | Velocity One | Launch Point Partners | Manufacturer and designer of custom energetic and pyrotechnic devices, aircraft power electronics, and inertial navigation products for the aerospace and defense industry. |
| Mar-25 | Grover Precision | Forecreu | Provider of tubing and precision gun drilling services for various industries including aerospace and defense. |
| Mar-25 | Technical Coating International | Tidewater Investment Company | Provider of contract laminating and coating services for the aerospace and military industries. |
| Feb-25 | North Point Defense | Commonwealth Computer Research | Provider of critical capabilities to the national intelligence community developing RF processing tools and signal collection technologies. |
| Feb-25 | Prometheus Energetics | Kratos Defense & Security Solutions (NAS: KTOS) | Manufacturer and supplier of solid rocket motors and other energetics intended to serve the defense sector. |
| Feb-25 | Frazier Aviation | Seven Point Equity Partners | Developer of an enterprise resource planning system designed to manage and coordinate resources and information for the aerospace sector. |
| Feb-25 | Stronvar Aerospace | Blackstone (NYS: BX) | Manufacturer of aerospace components intended for the commercial and military aviation markets. The Company specializes in fabricated assemblies, special process technologies, and complex machining. |
| Feb-25 | Ace Metal | American Wire Works | Manufacture of wire metal spools catering to ferrous, non-ferrous, tire cord, fiber optic, and aerospace industries. |
| Date | Target | Acquirer | Target Description |
|---|---|---|---|
| Feb-25 | Electro-Methods | Stronvar Aerospace (Blackstone) | Manufacturer of high-performance components for commercial and defense engine platforms. |
| Feb-25 | Pan Am Flight Academy | Acorn Capital Management | Operator of an aviation instruction institute intended to cultivate proficient pilots and maintenance personnel. |
| Feb-25 | Applied Composite Technology Aerospace | The Thermal Group (Behrman Capital) | Manufacturer of aero-structures and honeycomb structures while providing composite design, analysis, and production for the military and commercial aerospace industries. |
| Feb-25 | Aeroparts Group | Coltala Holdings | Provider of aircraft parts and related services intended for aircraft maintenance and repair. The Company provides parts distribution, component repair and overhaul. |
| Feb-25 | Gummi-Metall-Technik | TriMas | Manufacturer of components and systems intended to reduce noise, shock and vibration for the aerospace and defense end markets. |
| Feb-25 | G5 Infared | Lightpath Technologies (NAS: LPTH) | Manufacturer of infrared camera systems and imaging services for defense, border security, and counter-drone markets. |
| Feb-25 | Omnigas Systems | Aerox | Provider of after-market aerospace oxygen and fire suppression systems for the commercial and military aviation sectors. |
| Feb-25 | Karman Space & Defense (NYS: KRMN) | IPO – February 13, 2025 | Designer, tester, and manufacturer of mission-critical systems for existing and emerging missile and defense systems and space programs. |
| Feb-25 | Heroux-Devtek | Platinum Equity | Designer, developer, manufacturer, and repairer of landing gears and actuation systems and other components for the aerospace market. |
| Feb-25 | Amaero International (ASX: 3DA) | Pegasus Growth Capital | Manufacturer of C103, refractory alloy, and titanium powders for additive and manufacturing of components utilized by the defense, space, and aviation industries. |
| Feb-25 | Airsupply Tools | Tide Rock | Manufacturer and supplier of tool-kitting products for the industrial and aerospace sectors. |
| Feb-25 | LAUNCH | Capitol Meridian Partners | Provider of technical workforce recruitment services for the aviation and manufacturing industries. |
| Feb-25 | McStarlite | Standex International (NYS: SXI) | Manufacturer of sheet metal aerospace components catering to the commercial aviation and military end markets. |
| Feb-25 | Triumph Group (NYS: TGI) | Berkshire Partners | Designer and manufacturer of aerostructures, aircraft components, and systems for the aviation industry. |
| Feb-25 | Millennium International | HEICO (NYS: HEI.A) | Provider of repair and support services for avionic systems and components. |
| Feb-25 | Excelitas Technologies (Optical Systems & Advanced Electronic Systems Business) | Teledyne Technologies (NYS: TDY) | Manufacturer of advanced electronic equipment catering to the defense and space industry. |
| Jan-25 | ACT Aerospace | George Industries (Behrman Capital) | Manufacturer of aerospace and defense components machinery for composite structures. |
| Jan-25 | Aero-Plastics | Trelleborg | Provider of machined nonmetallic, precision injection molding, thermoforming, and injection molded components and services. |
| Jan-25 | Arotech | Albion River | Provider of defense and security products to serve the military, law enforcement and homeland security markets. |
| Jan-25 | Asko Group | Lucid Partners | Provider of maintenance services to aerospace, electronics, and industrial end markets. |
| Jan-25 | Barnes Group | Apollo Global Management | Provider of industrial and aerospace manufacturing and repair services. |
| Jan-25 | Kranze Technology Solutions | SPX Technologies (NYS: SPXC) | Provider of infrared countermeasures (IRCM) systems, digital interoperability, tactical networking, and program support for the US Navy, US Marine Corps, and SOCOM. |
| Date | Target | Acquirer | Target Description |
|---|---|---|---|
| Jan-25 | Northstar Aerospace (Wynnchurch Capital) | GE Aerospace | Manufacturer of flight-critical gears and transmissions intended to serve the global aerospace industry. The Company offers housings, assemblies, and shafts for helicopter transmission systems. |
| Jan-25 | SCP Manufacturing | Mobix Labs, Inc. (NAS: MOBX) | Manufacturer of mission-critical electrical components intended for aerospace, defense, and commercial applications. |
| Jan-25 | PAC Seating Systems | LifePort (Tower Arch Capital) | Manufacturer of engineered custom seating designed for the business jet and aerospace market. |
| Jan-25 | Ultra PCS | INVISIO (STO: IVSO) | Provider of wearable computing technology designed to reduce the cognitive and physical burden on military personnel. |
| Jan-25 | Bandy Manufacturing | Novaria Group (KKR) | Manufacturer of complex and close-tolerance hinges for commercial and military applications. |
| Jan-25 | Edge Autonomy | Redwire | Manufacturer of unmanned aircraft vehicles intended for the government and private companies including the navy and aerospace. |
| Jan-25 | Chandler Industries | BTX Precision | Manufacturer of precision machined components, fabrications, and complex assemblies for the aerospace, defense, and medical industries. |
| Jan-25 | M&M International | Gainline Capital Partners | Manufacturer and supplier of tubing products catering to the industrial, automotive, and aerospace markets. |
| Jan-25 | Integra Technologies | Micross (Behrman Capital) | Provider of outsourced semiconductor assembly and test (OSAT) post-processing services intended to serve communications, military, medical and automotive industries. |
| Jan-25 | AeroParts Group | Coltala Holdings | Provider of aircraft parts and related services intended for aircraft maintenance and repair. |
| Jan-25 | Jamco (TKS: 7408) | Bain Capital | Manufacturer of premier aircraft interior products and provider of tailored modification services for aircraft interiors. |
| Jan-25 | APS Aerospace | ACR Group | Provider of a state-of-the-art platform with high-fidelity animations specializing in FDM/FDA/FOQA, FDR/CVR readout, and accident investigation for the aerospace industry. |
| Jan-25 | Fiber Materials | Tex Tech Industries (Arlington Capital) | Developer and manufacturer of composite materials intended for the defense sector. |
| Jan-25 | Great Lakes Turbines | Sky Aviation Holdings (Corbel Capital) | Provider of aerospace component repair, fabrication, and machining services. |
| Jan-25 | Global Engineering & Technology | Yingling Aviation (AE Industrial Partners) | Provider of aircraft interior design and restoration services intended to serve the aviation industry. |
| Jan-25 | Monalex Manufacturing | Lampin | Manufacturer of precision machined parts for OEMs catering to aerospace and automotive aftermarkets. |
| Jan-25 | Precision Swiss Products | GCM Holding Corporation (Avista Partners) | Manufacturer of microfeature machining for aerospace and semiconductor equipment. |
| Jan-25 | Glendale Aero Services | The Blackhawk Group (New State Capital) | Provider of maintenance, repair, and overhaul services to aircrafts. |
| Jan-25 | Uniform Sierra Aerospace | Flock Safety | Developer of small unmanned aircraft systems designed to improve safety and efficiency for small businesses and governments. |
| Jan-25 | Tennessee Valley Research Group | Avion Solutions | Manufacturer of defense technology systems including laser technology systems, tactical ballistic missile targets, and hypersonic weapon field testing. |
| Jan-25 | Alltec Integrated Manufacturing | Siparex Group | Manufacturer of injection molding parts for the aerospace industry. |
| Jan-25 | Pryer Aerospace | Argonaut Private Equity | Manufacturer of structural components, assemblies, and kits intended to serve both the military and commercial aircraft industry. |
Source: Pitchbook and MergerMarket as of 04/02/2025; Meridian Research
Meridian Capital's Aerospace, Defense & Space Transaction Experience
*Note: Includes transactions completed by Meridian bankers while at previous firms
No items found
