Aerospace & Defense Add-on Acquisitions in 2023
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- Buyer
- Flightcheck Commercial Aviation Services, Lineage Capital
- Target
- Keenan Technical Industries
- Industry
- Aerospace & Defense
- Location
- Connecticut, United States
- Type
- Addon
Lineage Capital-backed Flightcheck Commercial Aviation Services acquired Keenan Technical Industries (KTI), a provider of aircraft line maintenance services at Bradley International Airport (BDL) and Manchester-Boston Regional Airport (MHT). The transaction closed on December 15, 2023 and expands Flightcheck's line maintenance footprint into the U.S. Northeast as an add-on to its existing platform.
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December 19, 2023
- Buyer
- AEFP Group, Emko Capital
- Target
- Johnson Precision Products
- Industry
- Aerospace & Defense
- Location
- California, United States
- Type
- Addon
AEFP Group, a North American precision parts and assemblies platform backed by Emko Capital, has acquired Johnson Precision Products of Santa Ana, California and named industry veteran Joe DeMartino as CEO of the group. The add-on strengthens AEFP Group’s hydraulics and fuel-systems component capabilities and expands its electro-mechanical assembly offerings for aerospace and defense customers.
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November 29, 2023
- Buyer
- BlueHalo, Arlington Capital Partners
- Target
- Ipsolon Research
- Industry
- Aerospace & Defense
- Location
- Maryland, United States
- Type
- Addon
BlueHalo, a portfolio company of Arlington Capital Partners, has acquired Ipsolon Research, a designer and manufacturer of ultra-small form factor software defined radios (SDRs). The acquisition will integrate Ipsolon's SDR hardware and software capabilities into BlueHalo's product portfolio to accelerate prototyping, expand capabilities for mission-critical defense applications, and better serve Department of Defense customers.
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November 14, 2023
- Buyer
- Aero 3, Inc., GenNx360 Capital Partners
- Target
- Skywheels, Ltd.
- Seller
- Neil Morris (co-owner of Skywheels)
- Industry
- Aerospace & Defense
- Location
- Cheshire, United Kingdom
- Type
- Addon
Aero 3, Inc., a GenNx360 Capital Partners portfolio company and parent of AeroRepair, Aircrafters and Hemico, has acquired Skywheels Ltd., a Cheshire, England-based wheel and brake repair and overhaul provider for the aviation industry. The acquisition adds a U.K./EMEA footprint to Aero 3's existing North American network and is intended to expand Aero 3's product, parts exchange and MRO capabilities across Europe.
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November 10, 2023
- Buyer
- Graham Corporation
- Target
- P3 Technologies, LLC
- Seller
- Sole owner (name not disclosed)
- Industry
- Aerospace & Defense
- Location
- Florida, United States
- Type
- Addon
Graham Corporation (NYSE: GHM) acquired P3 Technologies, a Jupiter, Florida-based custom turbomachinery engineering and manufacturing business, in a stock-and-cash bolt-on transaction to expand its turbomachinery capabilities and proprietary technology. P3 generated approximately $6.0 million of revenue in fiscal 2023 and brings patented technologies (MCD and SCAMP) and an $8 million backlog; the stock portion of the purchase price is valued at $2.0 million (stock priced using a $15.92 average).
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- Buyer
- Signia Aerospace, Arcline Investment Management
- Target
- Meeker Aviation, Airfilm Camera Systems
- Industry
- Aerospace & Defense
- Location
- California, United States
- Type
- Addon
Signia Aerospace, a portfolio company of Arcline Investment Management, has acquired Meeker Aviation and Airfilm Camera Systems. The deal adds Meeker's aircraft external payload mounts and Airfilm's camera systems to Signia's Mission Systems segment, expanding its mission-specific equipment offerings for military, utility, law enforcement and production customers.
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November 6, 2023
- Buyer
- West Star Aviation, The Sterling Group
- Target
- Jet East
- Seller
- Gama Aviation
- Industry
- Aerospace & Defense
- Location
- United States
- Type
- Addon
West Star Aviation, a portfolio company of The Sterling Group, has acquired Jet East from Gama Aviation. The deal brings together two business-aviation MRO providers to expand geographic coverage, AOG/mobile capabilities, and heavy- and line-maintenance services (transaction announced in Nov 2023; reported sale price ~US$131 million).
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November 1, 2023
- Buyer
- Eqlipse Technologies, Arlington Capital Partners
- Target
- SR Technologies
- Industry
- Aerospace & Defense
- Location
- Florida, United States
- Type
- Addon
Eqlipse Technologies, a portfolio company of Arlington Capital Partners, has agreed to acquire SR Technologies (SRT), a provider of signals intelligence (SIGINT) and electronic warfare (EW) products and engineering solutions. The add-on acquisition expands Eqlipse's technical capabilities for Department of Defense, Intelligence Community, and federal law enforcement customers; financial terms were not disclosed and the deal was expected to close in Q4 2023.
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October 30, 2023
- Buyer
- Fairbanks Morse Defense, Arcline Investment Management
- Target
- American Fan
- Industry
- Aerospace & Defense
- Location
- Ohio, United States
- Type
- Addon
Fairbanks Morse Defense (an Arcline portfolio company) has acquired American Fan, a Fairfield, Ohio-based maker of axial and centrifugal fans. The add-on expands FMD’s OEM product and service capabilities for naval and marine customers, integrating American Fan’s fans (specified in 30 U.S. Navy shipbuilding programs) into FMD’s turnkey marine solutions.
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October 17, 2023
- Buyer
- Heads Up Technologies, JLL Partners
- Target
- ALTO Aviation
- Industry
- Aerospace & Defense
- Location
- Massachusetts, United States
- Type
- Addon
Heads Up Technologies, a portfolio company backed by JLL Partners, has acquired ALTO Aviation, a Sterling, Massachusetts-based designer and manufacturer of premium OEM and aftermarket cabin audio and cabin management systems. The acquisition expands Heads Up's product portfolio and strengthens its presence in the OEM and aftermarket business aviation markets.
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- Buyer
- Stellant Systems, Inc., Arlington Capital Partners
- Target
- Power Systems Technology (PST) product line (Comtech Telecommunications Corp.)
- Seller
- Comtech Telecommunications Corp.
- Industry
- Aerospace & Defense
- Location
- New York, United States
- Type
- Addon
Stellant Systems, a portfolio company of Arlington Capital Partners, agreed to acquire Comtech Telecommunications' Power Systems Technology (PST) product line for a total cash purchase price of $40 million (including up to $5 million contingent consideration). The deal strengthens Stellant's RF amplification portfolio — adding Gallium Nitride solid-state power capabilities and complementary customers and workforce — while Comtech will use the proceeds to reduce debt and de-lever its balance sheet.
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October 5, 2023
- Buyer
- Machine Specialties, Inc., Calvert Street Capital Partners
- Target
- Cambridge Specialty Company, Inc.
- Seller
- Peter Campanelli
- Industry
- Aerospace & Defense
- Location
- Connecticut, United States
- Type
- Addon
Calvert Street Capital Partners portfolio company Machine Specialties, Inc. has acquired Cambridge Specialty Company, Inc., a Berlin, Connecticut-based precision manufacturer of flight-critical aerospace, defense and space components. The add-on expands MSI's capacity and capabilities, providing customer and service diversification while supporting growth initiatives.
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October 2, 2023
- Buyer
- Trexon, Audax Private Equity
- Target
- C.E. Precision Assemblies, Inc.
- Seller
- Paul Ross
- Industry
- Aerospace & Defense
- Location
- Arizona, United States
- Type
- Addon
Trexon, a portfolio company of Audax Private Equity, has completed the acquisition of C.E. Precision Assemblies, Inc. (CEPA), a Chandler, Arizona-based manufacturer of RF/microwave cable assemblies, wire harnesses, and electromechanical solutions. The add-on expands Trexon's Engineered Products group's capabilities and strengthens its presence in military and aerospace end markets; the business was sold by former owner Paul Ross.
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August 7, 2023
- Buyer
- Frontgrade Technologies, Veritas Capital
- Target
- Aethercomm
- Industry
- Aerospace & Defense
- Location
- California, United States
- Type
- Addon
Frontgrade Technologies, a portfolio company of Veritas Capital, has completed the acquisition of Aethercomm, a designer and manufacturer of high-power RF solid state power amplifiers and RF switches. Aethercomm will operate as a division rebranded Frontgrade Aethercomm, with founder Todd Thornton and the management team remaining and Thornton serving as General Manager; the deal expands Frontgrade's RF and antenna capabilities for aerospace and defense customers.
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July 17, 2023
- Buyer
- LightRidge Solutions, ATL Partners
- Target
- Trident Systems
- Industry
- Aerospace & Defense
- Location
- Virginia, United States
- Type
- Addon
LightRidge Solutions, a portfolio company of ATL Partners, has acquired Trident Systems, a provider of high-performance space electronics and C4ISR solutions. The add-on deal — terms not disclosed — expands LightRidge's capabilities in space mission computing, increases Trident's production capacity, and brings complementary engineering talent into the LightRidge platform.
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- Buyer
- New State Aviation Holdings, New State Capital Partners
- Target
- Finnoff Aviation Products
- Industry
- Aerospace & Defense
- Location
- Colorado, United States
- Type
- Addon
New State Capital Partners’ aviation platform, New State Aviation Holdings (NS Aviation), has acquired Finnoff Aviation Products, a Broomfield, Colorado–based provider of engine, propeller and avionics upgrades for the Pilatus PC-12. Finnoff’s founder and management will remain with the company; the deal is an add-on to NS Aviation’s existing aviation portfolio (including Blackhawk Aerospace and AVEX) and terms were not disclosed.
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- Buyer
- O2 Investment Partners, FCAH Aerospace
- Target
- Cobalt Aero Services
- Industry
- Aerospace & Defense
- Location
- Arkansas, United States
- Type
- Addon
O2 Investment Partners has invested through its platform FCAH Aerospace to acquire Cobalt Aero Services, a licensed FAA/EASA repair station specializing in nacelle, thrust reverser, and airframe component MRO. The deal adds complementary depot-level repair capabilities to the FCAH platform, supporting geographic expansion, capability enhancement, and increased service offerings to commercial, cargo, and defense customers.
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May 30, 2023
- Buyer
- SilverEdge Government Solutions, Godspeed Capital
- Target
- Gardetto Engineering, LLC
- Industry
- Aerospace & Defense
- Location
- Maryland, United States
- Type
- Addon
SilverEdge Government Solutions, a Godspeed Capital-backed defense-focused platform, has acquired Gardetto Engineering, a Maryland-based engineering services firm specializing in digital signal processing, hardware design, and systems engineering. The acquisition strengthens SilverEdge's digital and hardware engineering capabilities to support U.S. Defense and Intelligence community customers; terms were not disclosed.
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May 25, 2023
- Buyer
- Maury Microwave, Inc.
- Target
- Wireless Telecom Group, Inc.
- Industry
- Aerospace & Defense
- Location
- New Jersey, United States
- Type
- Addon
Maury Microwave, backed by Artemis Capital Partners, entered into a definitive agreement to acquire Wireless Telecom Group, Inc. (WTT), including its Boonton, Holzworth and Noisecom divisions, in a deal expected to close in Q3 2023 subject to shareholder approval and customary conditions. The acquisition expands Maury's RF test and measurement capabilities and access to end markets including aerospace, defense, satellite communications, semiconductors and emerging applications such as quantum and directed energy; WTT will continue to operate from its New Jersey headquarters under its current leadership.
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- Buyer
- Bernhard Capital Partners
- Target
- Duotech Services, Inc.
- Industry
- Aerospace & Defense
- Location
- North Carolina, United States
- Type
- Addon
Bernhard Capital Partners has agreed to acquire Duotech Services, a Franklin, North Carolina-based provider of repair, remanufacturing, and engineering solutions for radar and related systems, to expand its newly launched government services platform. Terms were not disclosed; Duotech will retain its headquarters and management team and will join Bernhard Capital's government services platform alongside the Federal & Defense business of VSE Corporation.
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April 27, 2023
- Buyer
- FDH Aero, Audax Private Equity
- Target
- BJG Electronics Group
- Seller
- Rockwood Equity Partners
- Industry
- Aerospace & Defense
- Location
- New York, United States
- Type
- Addon
FDH Aero, a portfolio company of Audax Private Equity, has acquired BJG Electronics Group from Rockwood Equity Partners. The deal adds BJG’s interconnect and electromechanical product distribution and value‑added manufacturing capabilities to FDH’s electronics offering, creating FDH Aero Electronic Products Group to expand supply‑chain solutions for aerospace, defense and space customers.
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April 18, 2023
- Buyer
- FCAH Aerospace, O2 Investment Partners
- Target
- Air Cargo Equipment
- Industry
- Aerospace & Defense
- Location
- United States
- Type
- Addon
O2 Investment Partners, through its platform FCAH Aerospace, has made an investment in and partnered with Air Cargo Equipment to support the latter’s growth. The deal adds FAA- and EASA-certified cargo system repair, overhaul, exchange and parts sales capabilities to FCAH’s aftermarket and MRO platform, strengthening its cargo system services offering.
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- Buyer
- Chesapeake Technology International, Inc. (CTI), Bluestone Investment Partners
- Target
- Rapid Imaging Technologies LLC
- Industry
- Aerospace & Defense
- Location
- Wisconsin, United States
- Type
- Addon
Chesapeake Technology International, Inc. (CTI), a portfolio company of Bluestone Investment Partners, has acquired Rapid Imaging Technologies LLC to strengthen CTI’s situational awareness and video analytics capabilities for defense and intelligence customers. The acquisition brings Rapid Imaging’s patented real-time geospatial imaging technology into CTI’s offerings and supports CTI’s organic and M&A growth strategy under Bluestone’s ownership.
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April 3, 2023
- Buyer
- BlueHalo, Arlington Capital Partners
- Target
- Verus Technology Group, Inc.
- Industry
- Aerospace & Defense
- Location
- Virginia, United States
- Type
- Addon
BlueHalo, an Arlington Capital Partners portfolio company, has acquired Verus Technology Group, a developer of RF- and DSP-based counter‑UAS (c‑UAS) systems including the SkyView product line. The acquisition is a strategic add-on to BlueHalo’s existing c‑UAS, directed energy, and perimeter security capabilities to expand its RF detection, identification, and tracking offerings for DoD, intelligence, commercial, and international customers.
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- Buyer
- Nexus Capital Management LP, HDT Global
- Target
- Aviation Ground Equipment Corp.
- Industry
- Aerospace & Defense
- Location
- Ohio, United States
- Type
- Addon
Nexus Capital Management LP and HDT Global have acquired Aviation Ground Equipment Corp. (AGEC), a veteran-owned manufacturer and distributor of aviation ground support equipment. The deal was structured as a new entity within the HDT portfolio to expand HDT's aircraft ground power and thermal management capabilities for military and commercial aviation programs, including support for F-35 and B-21 programs.
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March 13, 2023
- Buyer
- Iten Defense, Edgewater Capital Partners
- Target
- Transparent Armor Solutions
- Industry
- Aerospace & Defense
- Location
- California, United States
- Type
- Addon
Iten Defense, a portfolio company of Edgewater Capital Partners, has acquired Transparent Armor Solutions. The add-on expands Iten Defense's product offering to include transparent armor for ground vehicles, maritime applications, and personal protective viewports, strengthening its capabilities for Department of Defense and infrastructure programs.
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March 2, 2023
- Buyer
- Odyssey Aviation U.S., Granite Creek Capital Partners, L.L.C., Everside Capital
- Target
- Golden Isles Aviation
- Industry
- Aerospace & Defense
- Location
- Georgia, United States
- Type
- Addon
Odyssey Aviation U.S. has acquired Golden Isles Aviation, the Fixed-Base Operator (FBO) serving McKinnon St. Simons Island Airport (SSI) in St. Simons Island, Georgia. The acquisition expands Odyssey's FBO network and was financed by private investment firms Granite Creek Capital Partners and Everside Capital; Golden Isles' CEO Larry Wade will join Odyssey as a partner and board member.
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March 2, 2023
- Buyer
- Signia Aerospace, Arcline Investment Management
- Target
- Lifesaving Systems Corp.
- Industry
- Aerospace & Defense
- Location
- Florida, United States
- Type
- Addon
Signia Aerospace, a portfolio company of Arcline Investment Management, has acquired Lifesaving Systems Corp., a Florida-based supplier of helicopter and maritime rescue and survival equipment. The acquisition expands Signia's Mission Systems capabilities by adding Lifesaving Systems' rescue hooks, harnesses, litters and other maritime rescue products to its Onboard Systems business for cross-selling and operational integration.
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- Buyer
- Altamira Technologies Corporation
- Target
- Virginia Systems & Technology, Inc. (VaST)
- Industry
- Aerospace & Defense
- Location
- Virginia, United States
- Type
- Addon
Altamira Technologies Corporation has completed the acquisition of Virginia Systems & Technology, Inc. (VaST), a Warrenton, Virginia-based signals intelligence (SIGINT) mission company. The deal expands Altamira’s SIGINT capabilities and brings VaST’s mission-focused engineering, TCPED expertise, and national security customers into Altamira’s portfolio (Altamira is PE-backed and serves as the platform for this add-on).
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February 23, 2023
- Buyer
- First Class Air Holdings, O2 Investment Partners
- Target
- AVI Aviation (Aviation Inflatables, Inc.; Survival Products, Inc.)
- Seller
- Angie Alvarez, German Alvarez
- Industry
- Aerospace & Defense
- Location
- Florida, United States
- Type
- Addon
First Class Air Holdings (a portfolio company of O2 Investment Partners) made an investment in AVI Aviation, the holding company for Aviation Inflatables, Inc. and Survival Products, Inc., expanding FCAH’s aerospace aftermarket capabilities. AVI is an FAA/EASA Part 21 manufacturer and Part 145 licensed repair station specializing in MRO and manufacturing of aircraft emergency equipment and is headquartered in Sunrise, Florida.
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January 31, 2023
- Buyer
- Highlander Partners, L.P.
- Target
- Black Sage Technologies
- Seller
- Acorn Growth Companies
- Industry
- Aerospace & Defense
- Location
- Idaho, United States
- Type
- Addon
Highlander Partners, through its defense-focused division High Point Aerotechnologies, acquired Black Sage Technologies from Acorn Growth Companies. Black Sage, a Boise-based developer and integrator of Counter-UAS hardware and its DefenseOS C2 software, will complement Highlander’s growing C-UAS platform and expand capabilities for military, internal security, and critical infrastructure customers.
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January 25, 2023
- Buyer
- JETNET
- Target
- ADS-B Exchange
- Industry
- Aerospace & Defense
- Location
- Arizona, United States
- Type
- Addon
JETNET, a Silversmith Capital Partners–backed provider of aviation data and market intelligence, has acquired ADS-B Exchange, a widely used network of ADS-B/Mode S/MLAT feeders and supplier of real-time and historical flight data. The deal expands JETNET's flight-data capabilities and product offerings for MRO, airport operations, leasing and other aviation end markets; ADS-B Exchange will continue to serve both enthusiast and commercial customers.
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January 22, 2023
- Buyer
- LifePort, LLC, Tower Arch Capital
- Target
- PAC Seating Systems, LLC
- Seller
- Existing owners/operators (Jad Azzi and Hector Marini)
- Industry
- Aerospace & Defense
- Location
- Florida, United States
- Type
- Addon
LifePort, a portfolio company of Tower Arch Capital, has acquired PAC Seating Systems, a Palm City, Florida-based manufacturer of custom seating solutions for the business jet and VIP aerospace market. The deal expands LifePort's interiors and dynamic seating capabilities and geographic reach; existing PAC Seating operators Jad Azzi and Hector Marini will remain as investors and leaders in the combined business.
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January 17, 2023
- Buyer
- AIM MRO Holdings, LLC, AE Industrial Partners, LP
- Target
- Tribologix
- Industry
- Aerospace & Defense
- Location
- Colorado, United States
- Type
- Addon
AE Industrial Partners-backed AIM MRO Holdings, LLC acquired Tribologix, a Golden, Colorado-based developer of engineered dry film lubricants and surface coatings for extreme environments. Terms were not disclosed; Tribologix CEO Ben Ehrens will remain with the business as a consultant and the deal expands AIM MRO's capabilities in aerospace-grade surface coatings.
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January 12, 2023
- Buyer
- Epiq Solutions, Veritas Capital (Vantage Fund)
- Target
- Xiphos Systems Corporation
- Industry
- Aerospace & Defense
- Location
- Quebec, Canada
- Type
- Addon
Epiq Solutions, a portfolio company of The Veritas Capital Vantage Fund, completed the acquisition of Montreal-based Xiphos Systems Corporation, a provider of high-performance, space-focused embedded computing solutions. Xiphos will join the Epiq platform and continue to operate under its current leadership in Montreal as the combined businesses expand Epiq’s low-power, open-architecture processing capabilities into space and other mission-critical environments; financial terms were not disclosed.
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- Buyer
- George Industries, Behrman Capital
- Target
- Alexander Machine & Tool Company
- Industry
- Aerospace & Defense
- Location
- Massachusetts, United States
- Type
- Addon
George Industries, a portfolio company of Behrman Capital, has combined with Alexander Machine & Tool Company (AM&T). The transaction (terms not disclosed) brings AM&T’s precision machining, brazing and thermal-management capabilities into the George Industries platform as Behrman Capital invests additional equity; AM&T’s president Tammy Soper will continue to lead the business post-transaction.
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January 3, 2023
- Buyer
- New State Aviation Holdings, New State Capital Partners
- Target
- Blackhawk Aerospace
- Industry
- Aerospace & Defense
- Location
- Texas, United States
- Type
- Addon
New State Aviation Holdings, a general aviation platform sponsored by New State Capital Partners, has acquired Blackhawk Aerospace, a Waco, Texas-based leader in turboprop engine upgrades and aircraft performance improvements. Blackhawk will join NS Aviation's aviation portfolio alongside AVEX and continue to operate independently with its management team remaining in place; terms were not disclosed.
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