Aerospace, Defense & Government Contracting Q2 2020

Q2 2020 Aerospace Defense Government

M&A Transaction Trends

Largest Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • Dynetics, Inc.
  • United Technologies Corporate
  • $93,157.47
  • Meggitt Training Systems, Inc.
  • Pine Island Capital Partners
  • $146.00
  • Chemring Ordnance, Inc.
  • Nammo AS
  • $17.00

 

Source S&P Capital IQ as of 7/6/2020 and PCE Proprietary Data

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Contacts

David Jasmund

Orlando Office

407-621-2111

Michael Poole

Orlando Office

407-621-2112

David Jasmund

 

David Jasmund

Investment Banking | ESOP

Orlando Office

407-621-2111 (direct)

djasmund@pcecompanies.com

Connect
407-621-2111 (direct)

407-621-2199 (fax)

Eric Zaleski

 

Eric Zaleski

Investment Banking | ESOP

Chicago Office

847-239-2466 (direct)

ezaleski@pcecompanies.com

Connect
847-239-2466 (direct)

407-621-2199 (fax)

Melissa Ritter

 

Melissa Ritter

Investment Banking

Orlando Office

407-621-2128 (direct)

mritter@pcecompanies.com

Connect
407-621-2128 (direct)

407-621-2199 (fax)

Michael Rosendahl

 

Michael Rosendahl

Investment Banking

New York Office

201-444-6280 Ext 1 (direct)

mrosendahl@pcecompanies.com

Connect
201-444-6280 Ext 1 (direct)

407-621-2199 (fax)

Will Stewart

 

Will Stewart

Investment Banking | ESOP

Orlando Office

407-621-2124 (direct)

wstewart@pcecompanies.com

Connect
407-621-2124 (direct)

407-621-2199 (fax)

whitcomb-woody

 

Woody Whitcomb

Investment Banking

Orlando Office

407-621-2113 (direct)

wwhitcomb@pcecompanies.com

Connect
407-621-2113 (direct)

407-621-2199 (fax)

poole_michael

 

Michael Poole

Investment Banking

Orlando Office

407-621-2112 (direct)

mpoole@pcecompanies.com

Connect
407-621-2112 (direct)

407-621-2199 (fax)

vogt-paul

 

Paul Vogt

Valuation

Atlanta Office

678-641-4760 (direct)

pvogt@pcecompanies.com

Connect
678-641-4760 (direct)

407-621-2199 (fax)

Mackenzie Moran

 

Mackenzie Moran

Investment Banking

New York Office

201-444-6280 Ext 3 (direct)

mmoran@pcecompanies.com

Connect
201-444-6280 Ext 3 (direct)

407-621-2199 (fax)

Isabel Carta

 

Isabel Carta

Investment Banking

Orlando Office

407-621-2149 (direct)

icarta@pcecompanies.com

Connect
407-621-2149 (direct)

407-621-2199 (fax)

Philipp Seubert

 

Philipp Seubert

Investment Banking

New York Office

201-444-6280 Ext 4 (direct)

pseubert@pcecompanies.com

Connect
201-444-6280 Ext 4 (direct)

407-621-2199 (fax)

Data Assumptions

This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

Glossary

EBIT - Earnings Before Interest and Taxes
EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
LTM - Last Twelve Months
TEV - Total Enterprise Value

Sources:

  1. Alderman, L., “Airbus, Expecting Long Slump in Air Travel, Will Slash 15,000 Jobs,” The New York Times, June 30, 2020.
  2. Sider, A., Sebastian, D., “Delta to Retire Boeing 777 Fleet to Cut Costs Amid Coronavirus,” The Wall Street Journal, May 14,  2020.
  3. Pasztor, A., “Elon Musk’s SpaceX Readies First Astronaut Launch by Private Firm,” The Wall Street Journal, May 23, 2020.
  4. Cameron, D., Grya, T., “Raytheon Technologies to Cut $2 Billion in Costs, Furlough Staff,” The Wall Street Journal, May 7, 2020.
  5. Gould, J., “Lockheed paid suppliers $1.1 billion, added 8,300 jobs since pandemic,” Defense News, June 27, 2020.
  6. Mehta, A., “Nearly all defense companies have reopened from COVID-19,” Defense News, June 22, 2020.

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