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    Aerospace, Defense & Government Contracting Q4 2020

    Q4 2020 Aerospace Defense Government

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Physical Optics Corporation, Inc.
    • Mercury Systems, Inc.
    • $310.00
    • Braxton Science & Technology Group, LLC
    • Parsons Government Services, Inc.
    • $300.00
    • Genesys Aerosystems Group, Inc.
    • Moog Inc.
    • $77.70
    • SpaceQuest Ltd.
    • AAC Clyde Space AB
    • $10.31

     

    Source S&P Capital IQ as of 1/12/2021 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)

    Pearl-Rachel 667 x 667

     

    Rachel Pearl

    Valuation

    Orlando Office

    407-621-2140 (direct)

    rpearl@pcecompanies.com

    Connect
    407-621-2140 (direct)

    407-621-2199 (fax)

    R Winston 667 x 667

     

    Richard Winston

    Valuation

    Atlanta Office

    404-994-4650 (direct)

    rwinston@pcecompanies.com

    Connect
    404-994-4650 (direct)

    407-621-2199 (fax)

    Thomas Harrington

     

    Thomas Harrington

    Investment Banking

    Orlando Office

    407-621-2145 (direct)

    tharrington@pcecompanies.com

    Connect
    407-621-2145 (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. Sindreu, Jon. “After Covid, Plane Makers Are Even More Dependent on China.” The Wall Street Journal, Dow Jones & Company, 31 Dec. 2020.
    2. Sindreu, Jon. “Defense Deal Will Pose an Early Test for Biden Administration.” The Wall Street Journal, Dow Jones & Company, 23 Dec. 2020.
    3. Pasztor, Andy. “NASA Makes Blue Origin Eligible to Launch Future Missions Without Crews.” The Wall Street Journal, Dow Jones & Company, 17 Dec. 2020.
    4. Forrest, Brett. “Chinese Arms Industry Ranks Second Behind U.S., Report Says.” The Wall Street Journal, Dow Jones & Company, 6 Dec. 2020.
    5. Gould, Joe. “Congress Races to Pass $2.3T Spending Deal, with $696B for Pentagon.” Defense News, Defense News, 21 Dec. 2020.
    6. Insinna, Valerie. “COVID-19 Pandemic Keeps Lockheed from Meeting F-35 Delivery Goal in 2020.” Defense News, Defense News, 30 Dec. 2020.
    7. Bell, Hayle. “Blue Canyon Technologies Announces Completion of Acquisition by Raytheon Technologies.” The Wall Street Journal, Dow Jones & Company, 21 Dec. 2020.
    8. Fitch, Asa. “Pentagon Readies for Battle in a 5G Future.” The Wall Street Journal, Dow Jones & Company, 10 Nov. 2020.

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