ADHETEC acquired by ADAGIA PARTNERS

Crane has successfully finalized the acquisition of 100% of Vian Enterprises, integrating the organization into its Fluid Solutions division within the Aerospace & Electronics segment. This strategic transaction is designed to significantly expand the group's portfolio of mission-critical aerospace flow control products, particularly in the lubrication and thermal management segments. The strategic rationale centers on the target’s sole-sourced and proprietary content on the most attractive and highest-volume commercial and military aircraft platforms currently in service

HENSOLDT Group has signed a definitive agreement to acquire 100 % of ESG Elektroniksystem- und Logistik‑GmbH from an investment vehicle managed by Armira Beteiligungen GmbH & Co. KG. The transaction includes an earn‑out linked to ESG’s performance targets through the end of 2024 and is subject to customary regulatory approvals, with completion anticipated in the first half of 2024. The acquisition aligns ESG’s software engineering and systems‑integration expertise with HENSOLDT’s sensor portfolio, creating a combined offering that addresses digital battlefield solutions, integrated network capabilities and multi‑domain operations

Air Support has completed a leveraged buyout (LBO) transaction with iXO Private Equity, an existing shareholder, and BNP Paribas Développement, which is joining the company's capital to support a new phase of growth for the aerospace maintenance specialist. This operation enables Sabine Tertre, the company's president, to continue developing the group while relying on financial partners capable of supporting her ambitions in France and internationally. The financing is complemented by a banking pool led by Caisse d'Épargne Midi-Pyrénées, Banque Populaire Occitane, and LCL

OpenGate Capital has completed the acquisition of ScioTeq from the American aerospace conglomerate TransDigm Group. This transaction follows a strategic decision by the seller to refocus on its core aerospace components. The carve-out allowed ScioTeq to become an autonomous entity after years of integration within larger groups (Barco, then Esterline, then TransDigm). The strategic rationale was based on restoring the operational agility of the Belgian specialist while maintaining its privileged access to the US market via its Georgia facilities

The Carlyle Group signed a binding agreement to acquire 100% of Forgital from the family (83%) and Fondo Italiano d’Investimento (17%). The valuation reflects the group's critical position in the aerospace supply chain. The transaction allowed NB Aurora to generate a significant capital gain, receiving ~EUR50M from a carrying value of EUR21M. The deal was subject to Antitrust and Golden Power approvals in Italy and France due to the strategic nature of Forgital's technology.

Omnes Capital and Andera Partners entered into exclusive negotiations to acquire a majority stake in Spherea, outbidding Argos Wityu and Sagard. The transaction allows historical investors ACE Management (now Tikehau Ace) and IRDI to exit partially. A senior debt of over EUR40M, provided by LCL and HSBC, supports the deal. The strategic goal is to accelerate Spherea's diversification into railway and energy sectors and pursue larger-scale build-up operations.

Ardian acquired a majority stake in Revima from Argos Wityu, which had held the company since 2017 and reinvested a portion of its proceeds to remain a minority shareholder. The management team also increased its stake. The financing package included a unitranche debt provided by Permira and Tikehau IM, with a leverage slightly exceeding 4.0x EBITDA. The strategic roadmap includes the construction of a new site in Thailand and the finalization of two bolt-on acquisitions in engine part repair and predictive maintenance

Sagard, in partnership with Bpifrance, won the competitive auction to acquire Sabena Technics from the Marchais family (TAT Group), outbidding Air France-KLM, TowerBrook, and Chequers Capital. The sale process was managed by Financiere de Courcelles and led by former Airbus CEO. The deal marks a strategic exit for the Marchais family after 13 years of ownership, while providing Sabena with the institutional backing to consolidate its position in the European MRO market.

Tikehau Capital invested €114 million in Nexteam Group to support its ambitious "2023" strategic roadmap. This minority investment, made alongside the existing management team, provides the group with the financial resources to accelerate its international development and consolidate its market position. The strategic goal is to transform Nexteam into a global leader with over €500 million in revenue through a combination of organic growth and targeted acquisitions. The partnership leverages Tikehau's deep understanding of the aerospace supply chain and its international office network to assist Nexteam in capturing new development opportunities

Argos Soditic took a 60% controlling stake in Revima to resolve a long-standing shareholder dispute between the president and the other two owners. The latter two retained 40% of the capital and partnered with Argos. The deal aimed to unlock a major investment plan ("tens of millions of euros") to expand Revima's industrial footprint globally, specifically by establishing maintenance sites in Asia and America, and developing a trading business for second-hand aircraft parts (USM).