The biggest military equipment and technologies deals in Q1 2022

 The biggest military equipment and technologies deals in Q1 2022


There were 21 deals recorded involving major military equipment and technology companies in the three months to April with several high profile venture financing, equity offerings, asset transactions, loan offerings, lending. acquisitions and private equity deals.

That’s according to GlobalData’s Financial Deals database, which tracks market activity in different sectors and deal types.

The deals below only include those that have already been completed – so do not include rumors or those that have already been agreed but have not yet been implemented.

The figures, which include leading military equipment and technology companies, show the U.S. market to be the most active, with 14 deals occurring in the past three months. That was followed by France, which saw two deals.

Below are some of the biggest completed deals that have occurred in the past quarter.

Claims

Lockheed Martin Completes Acquisition of Aerojet Rocketdyne at a Cost of USD4.4 Billion – February 14 ($ 4,400m)

Lockheed Martin Corp. terminated acquisition of Aerojet Rocketdyne Holdings, Inc.

Lockheed Martin Corp. is an aerospace, defense, weapons, security, and advanced technology company, while Aerojet Rocketdyne Holdings Inc. is a manufacturer of aerospace and defense products and systems, for a purchase price of USD4.4 billion. .

Aerojet Rocketdyne has a post-dividend equity value of USD4.6 billion.

As part of the approval of the transaction, Aerojet Rocketdyne has announced a special cash dividend, which will be redeemed at its option by the payment date, of USD5 per share to its common stock record holders and shares. -or senior notes (on a converted basis) since the closure of the business on March 10, 2021, and payment on March 24, 2021.

Evercore acted as Aerojet Rocketdyne’s advisor on the transaction.

Deal History:
Approval: On March 9, 2021, Aerojet Rocketdyne received Stockholders ’Approval for Lockheed Martin’s acquisition of USD4.4 Billion.

Announced: On December 20, 2020, Lockheed Martin entered into a definitive agreement to acquire Aerojet Rocketdyne Holdings at a purchase price of USD4.4 billion.

Consortium of Investors to Acquire 100% Stake in Aubert & Duval – 22 February ($ 107m)

The Consortium of Investors including (Airbus SAS, Safran SA and Tikehau Ace Capital) has agreed to acquire a 100% stake in Aubert & Duval, a metallurgical solutions provider from Eramet, a mining and metallurgy company, for consideration to purchase USD107.34 Million). All companies involved in the transaction are based in France.

Nomura served as Safran’s financial advisor for the transaction.

Under the terms of the transaction, A&D’s divestment will be based on a business value of EUR95 million plus a set of specific guarantees in addition to the usual guarantees. The accounting effect is estimated at -EUR340 million, and will be identified by the result for the year 2021. It has no effect on the Group’s net debt as at 31 December 2021.

The conclusion of the deal, which must take place before the end of 2022, is subject to the endorsement of staff representatives and regulatory approval.

CTS to Acquire Meggitt (Ferroperm Piezoceramics) – 12 April ($ 77m)

CTS Corporation, a US -based manufacturer of sensors, actuators and electronic components, has announced a definite part purchase agreement to acquire Meggitt Plc, a UK -based designer, manufacturer, and supplier of piezoceramic components for aerospace, defense and selected energy markets, for DKK525 million (USD76.86 million) in cash.

The transaction is expected to close in 2022 and be subject to receipt of regulatory approval requirements.

To sell Aviation & Missile Solutions to Leidos Holdings – 15 February ($ 18m)

Leidos Holdings Inc., a defense, aviation, information technology, and biomedical research company, signed a definitive agreement to sell Aviation & Missile Solutions LLC, an aerospace and defense company, to undisclosed investors, for in consideration of USD18 million. Both companies are based in the US.

The transaction is expected to be completed in the first quarter of fiscal year 2022.

Textron to Get Pipistrel – 17 March

Textron Inc., a multi-industry company with aircraft operations, defense, industrial products, and finance, has agreed to acquire Pipistrel doo Ajdovscina, a Slovenia-based light aircraft manufacturer.

At the close of the transaction, Textron plans to create a new part of the business, Textron eAviation, focused on developing sustainable aircraft, which will include Pipistrel.

Pipistrel founder and CEO Ivo Boscarol will remain a minority shareholder as well as Chairman Emeritus, consulting on future product plans and strategies for a two -year period.

The transaction is expected to close in the second quarter of 2022, under the usual closing conditions, including regulatory approvals.

Venture financing

CesiumAstro Secures USD60 Million in Series B Venture Funding – 02 March ($ 60m)

CesiumAstro Inc, a U.S. -based developer of advanced aerospace communications systems, has secured USD60 million in Series B venture funding led by AV Capital Management LLC (Airbus Ventures) and Forever Ventures.

In addition, L3Harris Technologies Inc, Kleiner Perkins Caufield & Byers, Lavrock Ventures LLC, Franklin Blackhorse and HEICO Corp also participated in the funding round.

Overwatch Imaging Raises USD11 Million in Venture Financing – April 05 ($ 11m)

Overwatch Imaging, a U.S. -based designer and maker of imaging systems with custom onboard artificial intelligence (AI) software for pilot and unmanned aircraft, has raised USD11 million in venture financing. Financing is led by Squadra Ventures and Shield capital. L3Harris Technologies and Bridger Aerospace, as well as the Portland Seed fund participated in this phase.

The funds will be used to meet high demand for its products, improve automation and image analytic software, and expand new market segments.

Private equity

Blueshift Asset Management Invests USD0.42 Million in AeroVironment – 01 February ($ 0m)

Blueshift Asset Management, LLC, a quantitative investment firm focused on statistical arbitrage and trading strategies, acquired 4,969 shares in AeroVironment Inc, a designer, developer and provider of unmanned aircraft systems and commercial information solutions for USD0.42 million. Both companies are based in the US.

Elliott Investment Management to Acquire Mercury Systems – 03 March

Elliott Investment Management LP, a privately owned hedge fund sponsor, has made an offer to acquire Mercury Systems Inc., a technology company that develops electronic defense solutions. Both entities are based in the US.

Arcline Investment Management Acquires Enviro Systems (Safran Ventilation Systems Oklahoma) – March 21st

Arcline Investment Management, a private equity firm, acquired Enviro Systems Inc. (Safran Ventilation Systems Oklahoma, Inc.), a leading U.S.-based developer, manufacturer, and supplier of integrated ECS and related products. components for the aviation industry, from Safran SA, a France -based provider of systems and equipment for aerospace, defense and security.

Mesirow acted as financial advisor to Safran SA

Asset transactions

Thales Could Get Big Data and Business on Cybersecurity in Atos – 02 Feb ($ 3,000m)

According to Reuters, sources report that, Thales SA, a company that designs and builds electrical systems and provides services for the aerospace, defense, transportation and security markets, can capture big data and cybersecurity. business of Atos SE, a multinational information technology services. and consulting company for a potential consideration of USD3 billion. Both companies are based in France.

Atos SE’s big data and cyber security business is known as BDS.

Reportedly, Bain Capital, CVC Capital Partners and PAI Partners could acquire the remaining IT services operations in Atos SE.

Raytheon Technologies May Sell Anschuetz Navigation Systems Unit – 03 Feb ($ 200m)

According to people familiar with the matter, Raytheon Technologies Corporation, a provider of systems and services for the commercial, military and government, could sell the Anschuetz Navigation Systems Unit, for a consideration of USD200 million.

The Anschuetz Navigation Systems Unit is a designer and manufacturer of products including gyrocompasses, used to establish marine headers as an alternative to the more common compasses, which may have a magnetic field distorted by ships. of iron.

EMCORE Acquires Assets and Liabilities of L3Harris Technologies – 15 February ($ 5m)

EMCORE Corp., providing sensors and mixed-signal optics products, acquired all intellectual property, and unique assets and liabilities of L3Harris Technologies Inc., an aerospace and defense company providing products and technology throughout the sea, land, space, air, sea. , and cyber places, for a consideration of approximately USD5 million in an all-cash transaction. Both companies involved in the transaction are based in the US.

Deal History:
Announcement: On February 15, 2022 EMCORE Corp., a provider of sensors and mixed-signal optics products, announced the acquisition of all intellectual property, and outstanding assets and liabilities of L3Harris Technologies Inc., an aerospace and defense companies that provide products and technologies throughout the sea, land, space, air, sea, and cyber areas.

QinetiQ acquires Northstar Autonomous Navigation Software from TP Group – 01 April ($ 1m)

QinetiQ Limited, a subsidiary of QinetiQ Group PLC, acquired Northstar autonomous navigation software from TP Group PLC, a lifelong consulting, digital solutions, and engineering services company in defense, space and energy programs, for a total cash consideration of USD0. .78 million. Both companies are based in the UK.

QinetiQ Group is a provider of science and technology products and solutions.

Cenkos Securities plc acts as financial advisor to TP.

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