Industry Update: Aerospace & Defense
VRC is proud to release its latest Industry Report. The report provides a concise, insightful update on the Aerospace & Defense industry including recent transactions, market multiples, company performance and purchase price allocation percentages.
- On May 10, 2021, Arlington Capital Partners completed its acquisition of Triumph Group’s composites business. The business will operate independently as Qarbon Aerospace. Qarbon is a leading provider of complex structural components and assemblies such as fuselages, wings, flight control surfaces, and engine nacelles.
- On March 1, 2021, CAE announced an agreement to acquire L3Harris’ Military Training business for $1.05 billion. The acquisition is 13.5x EBITDA. The acquisition broadens CAE’s position in the U.S. and complements CAE’s military training business. In April, CAE also acquired RB Group, furthering its goal of linking operators and crew digitally.
- On February 1, 2021, Eaton Corp. announced it had signed an agreement to acquire Cobham Mission Systems for $2.83 billion. The acquisition is ~14x
2020 EBITDA. Cobham is a leading manufacturer of air-to-air refueling systems, environmental systems, and actuation.
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