News & Updates
We welcome you to review our recent deal announcements as well as our quarterly and annual reports for updates on the latest trends within M&A.
Our team focuses on industry trends and notable market activity, and encourages you to share what you find insightful.
Deal Announcements
Quarterly & Annual Reports
A&D News
Tradeshows
KAL Capital Acts as Sole Sell-Side Advisor to Stroco Manufacturing
Novaria Group, a leading manufacturer of specialty hardware for the aerospace and defense industries, announced today it has signed an agreement to acquire Stroco Manufacturing, Inc. Upon closing,...
KAL Capital Advises Hitemco Acquisition by Lincotek
Global contract manufacturer Lincotek is announcing today that it has closed the acquisition of Hitemco, emphasizing the strong focus of Lincotek on the US market. The scope of the transaction is a...
KAL Capital Advises Custom Microwave’s Acquisition by Vitesse Systems
Trive Capital announced that it has acquired Custom Microwave, Inc. (CMi), which will join the Vitesse Systems platform. Vitesse Systems was launched in 2018 following the acquisition of...
KAL Capital Advises Vanguard Electronic’s Sale to iNRCORE, LLC
iNRCORE, LLC, a premier Family of Brands supplying high reliability magnetics and other components to power the world’s next-generation systems, is pleased to announce the acquisition of Vanguard...
Kemco Aerospace Manufacturing Acquired by Crestview Aerospace
KAL Capital Markets (“KAL”) is pleased to announce its role as sell-side investment banking advisor to Kemco Aerospace Manufacturing (“Kemco” or the “Company”) in its acquisition by Crestview...
KAL Capital Advises Karman Missile & Space’s Acquisition of Systima Technologies
The senior leadership team of Systima Technologies, Inc. (“Systima”) has partnered with Karman Missile & Space Systems (“Karman” or the “Company”) backed by Trive Capital...
KAL Capital Advises Forrest Machining’s Acquisition by Endeavour Capital
Based in Valencia, CA, FMI Aerostructures is a leading manufacturer of critical structural components and assemblies for the aerospace and defense industry. With 230,000 square feet under roof and...
KAL Capital Advises Sentek Global Transaction
Deloitte announced today it has acquired substantially all the assets of Sentek Consulting, Inc. (Sentek Global), a San Diego-based systems engineering and cybersecurity firm primarily...
KAL Capital Advises Sale of Space Launch Structures Business, AMRO Fabricating
Trive Capital (“Trive”), the Dallas-based private equity firm, has partnered with the senior leadership teams of Aerospace Engineering Corp. (“AEC”) and AMRO Fabricating Corporation (“AMRO”) to...
KAL Capital Advises Mingo Aerospace Transaction
Sunvair Aerospace Group, Inc. ("Sunvair"), a portfolio company of Blue Sea Capital ("Blue Sea"), today announced the acquisition of Mingo Aerospace, LLC ("Mingo" or the "Company"), a provider of...
KAL Capital Advises Sale of ACPT
Charger Investment Partners ("Charger") today announced that it has acquired a majority stake in Advanced Composite Products and Technology, Inc. ("ACPT" or the "Company"). Financial terms of the...
KAL Capital Advises Sale of Geodetics
AEVEX Aerospace announced today its acquisition Geodetics Incorporated. Geodetics Incorporated, headquartered in San Diego, California, designs, develops, and manufactures commercial high-precision...
KAL Capital Q3 2021 A&D Review
Click Here to See the PDF Dear Friends, Unreal. That is simply the only way to describe the M&A market at this point. Just whenwe thought there could not be more activity and valuations could not be stretched anyhigher, we continue to see non-stop new transaction...
KAL Capital Q2 2021 Newsletter
Click Here to see the PDF Dear Friends, Hope everyone’s summer is off to a great start with some rest and recovery in your near-term future. For us at KAL, our summer vacations (thankfully, no complaints here!) have been deferred to next-year as the M&A...
KAL Capital Newsletter: 2020 in the Rearview
Click here to see the PDF Dear Friends, Happy belated New Year As we reflect back on 2020 the year was obviously filled with unprecedented challenges to the aerospace and defense sector. However, the more nuanced perspective on the M&A market would be to emphasize...
KAL Capital Q3 in Review
Please view our Full Q3 Report Here. Dear Friends, Hope you are well. As the general economy and other aspects of everyday life slowly start to begin to ease towards normalcy (depending on where you are); the M&A market has orientated itself to a post-Covid...
KAL Capital 2020 Q2 in Review
Please Review our Full Q2 Report Here. Dear Friends, Despite it almost being cliché at this point, we hope that you are staying safe and healthy. The past quarter has been a wild ride as we saw COVID-19 emerge as the most important global event of many of our...
KAL Capital A&D 2019 in Review
Dear Friends, Happy New Year! KAL Capital Markets finished the year with six closed transactions; each of the businesses were well received by an aggressive set of strategic and financial buyers. We are set to embark on our fourth year, and we are proud to say that...
KAL Capital Q3 Quarter in Review
Please see the full Q3 report here. Dear Friends, As we get started in the fall season, the aerospace/defense M&A market remains highly dynamic with several notable developments. That said, two main topics dominate nearly every conversation and serve as key...
KAL Capital Q2 Quarter in Review
We are extremely pleased to have represented Valence Surface Technology, a portfolio company of Trive Capital, in their sale to ATL Partners this past quarter. The transaction marked another sale in an important sub-vertical for us (metal finishing). It was terrific...
KAL Capital Q1 Aerospace and Defense Review
Dear Friends, Suffice to say, 2019 is off to an interesting start! For our firm, despite the first quarter traditionally being a slower time, we had two closed transactions that both represented strong achievements for the practice. We were thrilled to represent...
KAL Capital Year in Review 2018
Dear Friends, We are pleased to present you with our 2018 Year in Review report. KAL Capital Markets finished the year with four closed transactions, all staying true to our core competency of exclusively advising firms within the greater aerospace and defense supply...
KAL CAPITAL Q3 2018 REVIEW
We are pleased to share our Q3 A&D M&A Review. Contents include: Q3 A&D Deal Activity 737 MAX Program Update Aftermarket Update Defense Update: Submarine Focus We hope you enjoy and as always we welcome your thoughts on any material discussed. Please see...
5 Considerations for A&D Principals Considering M&A
A&D M&A is a massive undertaking, but there are plenty of opportunities for profit and increased synergies. Whether you’re planning retirement, hoping to grow your business, or planning to jump to your next venture, planning is key to successful mergers and...
How Aerospace and Defense Firms Can Overcome Supply Chain Bottlenecks
The world of A&D M&A is facing a number of pressures: increased consolidation that has led to increased regulatory oversight, as well as supply chain shortages and bottlenecks with the capacity to impact production and profitability. This, coupled with skilled...
Technology Due Diligence for A&D M&A: What You Need to Know
Technology is central to aerospace and defense businesses, even when a company does not perceive itself as a tech company. In aerospace and defense M&A tech due diligence is more than just good business. It may also be a matter of national security. The aerospace...
KAL Capital Acts as Sole Sell-Side Advisor to Stroco Manufacturing
Novaria Group, a leading manufacturer of specialty hardware for the aerospace and defense industries, announced today it has signed an agreement to acquire Stroco Manufacturing, Inc. Upon closing, the acquisition will be Novaria’s ninth since June 2020. Founded in...
Is European Aerospace and Defense the Next Hot Sector?
The A&D M&A bonanza in the United States has greatly consolidated the industry. This has attracted the attention of the Department of Defense, which recently announced its intent to provide greater regulatory oversight. As a result, A&D firms and...
Looking Ahead: Defense Spending and Opportunities for the Lower Middle Market
The Russian invasion of Ukraine has set in motion a chain of events unprecedented in the contemporary defense landscape. The West is reassessing its military might, and Europe is accelerating defense spending. The aerospace and defense sector stands to reap the...
New DoD Report Outlines State of Competition in A&D
DoD recently announced its intent to crack down on consolidation in aerospace and defense. A new report supports this plan, highlighting significant concerns about lack of competition in the defense industrial base—a challenge that industry experts say could...
KAL Capital 2022 Q1 Newsletter
Click Here to Download Report Dear Colleagues – The end of Q1 is here and we couldn’t be more excited about the rest of the year, we hope you all share a similar sentiment. We couldn’t ask for a better start to our year with several new team members and record setting...
Anticipating New Challenges in A&D M&A
Most aerospace and defense owners have lived through a range of crises, and are intimately familiar with how the unexpected can affect aerospace and defense mergers and acquisitions. They know that a contingency plan is key, but we’ve seen with the pandemic that some...
More Oversight Coming for Defense M&A
Citing concerns about the threat consolidation poses to national security, the Pentagon has announced its intent to increase oversight of defense contractor mergers. In a new report, it outlined a range of recommendations to counteract the reduced competition of a 30...
The Emerging Role of Artificial Intelligence in A&D M&A
Artificial intelligence deals are rapidly accelerating, with GlobalData reporting an average deal value of $159 million. The number will almost certainly increase as technology advances and companies perceive more opportunities. While most growth has occurred in the...
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