M&A Transactions
Arcline Investment Management LP has agreed to acquire Novaria Holdings LLC, a portfolio company of KKR & Co. Inc. and provider of niche engineered components and specialty processes within commercial aerospace and defense markets. The transaction is valued at $2.2 billion.
ARMADA Parent, Inc., a portfolio company of The Carlyle Group, has acquired Poseidon Industrial, LLC, a provider of mechanical, electrical, and systems integration services for modernization and repair projects within commercial and defense markets. Terms of the transaction were not disclosed.
BigBear.ai Holdings, Inc. (NYSE: BBAI) has agreed to acquire Ask Sage, Inc., a provider of generative artificial intelligence assistants and solutions which leverage open-source large language models on any cloud or on-premise for private sector and U.S. federal government commercial and defense markets. The transaction is valued at $250.0 million. KippsDeSanto & Co. acted as financial advisor for Ask Sage, Inc.
Chaos Industries, Inc. has acquired Ziva Corp., a provider of wireless time synchronization capabilities for next-generation radar, sensing, and distributed battlefield effects within defense markets. Terms of the transaction were not disclosed.
Diamond Antenna and Microwave Corporation, a portfolio company of Artemis Capital Management Co., LLC, has acquired Antenna Associates, Inc., a provider of advanced Identification Friend or Foe ("IFF") and secondary surveillance radar ("SSR") antenna systems within commercial and defense markets. Terms of the transaction were not disclosed.
HEICO Corporation (NYSE: HEI) has agreed to acquire the Fuel Containment Business of Axillon Aerospace, a portfolio company of SK Capital Partners, LP and provider of fuel cells and sealants for a broad range of aircraft and systems within commercial aerospace and defense markets. Terms of the transaction were not disclosed.
Hexagon AB (STO: HEXA B) has agreed to acquire Inertial Sense LLC, a provider of tactical-grade global navigation solutions and inertial navigation systems ("GNSS+INS") within commercial and defense markets. Terms of the transaction were not disclosed.
Satair A/S, a subsidiary of Airbus SE (XPAR: AIR), has agreed to acquire Unical Aviation, Inc., a portfolio company of Platinum Equity Holdings and provider of used serviceable material ("USM") aircraft parts and components within commercial aerospace markets. Terms of the transaction were not disclosed.
Veritas Capital has agreed to acquire MetroStar Systems, LLC, a provider of AI-enabled digital transformation services and software serving the U.S. Defense and National Security communities. Terms of the transaction were not disclosed. KippsDeSanto acted as financial advisor for MetroStar Systems, LLC.
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