MECAER AVIATION GROUP acquired by PAI PARTNERS

Kraken Robotics has entered into a definitive agreement to acquire Covelya Group, marking the largest acquisition in its history. This transaction represents a pivotal milestone in the company's scale-up strategy and its ambition to establish itself as a leading player in underwater technologies. The combination is driven by a strong industrial and technological complementarity. Kraken brings its expertise in synthetic aperture sonars, high-performance underwater batteries, and autonomous robotic systems, while Covelya complements these capabilities with its acoustic positioning, navigation, imaging, data processing, and underwater surveillance solutions

Nexteam completed a shareholder reorganization following a competitive process led by Crédit Agricole CIB and Indosuez Corporate Advisory. As part of the transaction, a consortium comprising EMZ Partners, Bpifrance and Amundi Private Equity Funds acquired a minority stake in the company to support its next phase of growth. The new investors succeed Tikehau Capital, which had been a minority shareholder since 2018, while management, led by Ludovic Asquini and Christophe Maury, increased its ownership and retained control of the business through the backing of the long-standing “Friends of Nexteam” shareholder group

Global alternative asset manager H.I.G. Capital has finalized, through one of its specialized affiliates, the total acquisition of International Aerospace Coatings (IAC). This primary M&A transaction represents a strategic exit for the private equity sponsor Tiger Infrastructure Partners, which previously held a controlling interest in the aviation services company. The strategic rationale behind the acquisition is rooted in accelerating the international expansion of International Aerospace Coatings to capture expanding market demand for critical fleet finishing solutions

Abenex has completed the acquisition of a majority stake in Tethys, a French specialist in pyromechanical systems, through its second small-cap fund. This transaction represents a secondary leveraged buyout, facilitating a complete exit for the previous majority shareholders, which included a group of business angels operating as a search fund and Bpifrance's Definvest fund. The deal was the outcome of a competitive six-month auction process, primarily targeting financial sponsors, which saw Abenex emerge as the successful bidder against other private equity firms

The investment consortium led by a French industrial-focused sponsor has successfully finalized a Management Buy-In (MBI) of the target, marking the end of over a century of family ownership. This strategic transaction represents a pivotal step in the manufacturer’s evolution, transitioning the firm from a family-held enterprise into a consolidated paneuropean platform named International Protective Equipment (IPE). The strategic rationale for the move centers on the urgent requirement for European industrial autonomy in the defense sector and the target’s unique position as an integrated, patent-protected provider of high-end personal protective equipment

Rocket Lab has finalized the acquisition of a 100% stake in Mynaric AG, a move that significantly strengthens its position in the integrated space systems market. This strategic transaction represents the group’s first major industrial footprint in Europe, with the target maintaining its operational headquarters in Munich. The strategic rationale for the acquisition centers on the vertical integration of high-speed optical communication technology, which is increasingly becoming a critical bottleneck in the deployment of large-scale satellite constellations

Rheinmetall has finalized the acquisition of 100% of NVL (Naval Vessels Lürssen) from the Lürssen Group, which will now focus exclusively on the luxury yacht market. The transaction, agreed upon in September 2025, received final antitrust clearance in early 2026. The strategic rationale is to transform Rheinmetall into a naval powerhouse, aiming to grow NVL’s revenue from €1.3 billion to €5 billion by 2030. This acquisition ends Rheinmetall's status as a mere supplier to the maritime industry, allowing it to sell complete, armed warships

The consortium led by Tinicum and Blackstone has reached a definitive agreement to acquire 100% of the share capital of Senior plc, a prominent UK-listed engineering group. This strategic transaction represents the conclusion of a competitive bidding process, marking a significant milestone in the ongoing trend of international buyers targeting specialized UK industrial assets. The strategic rationale for the move centers on the acquirers' objective to consolidate their presence in the high-growth aerospace and defense sectors, specifically by creating a scaled technical platform

Groupe RIVOLIER completed the acquisition of THIFAN INDUSTRIE to integrate specialized ammunition manufacturing capabilities and secure key ballistic intellectual property. This transaction allows the buyer to become the owner of the renowned Sauvestre brand and its associated BFS and FIP technologies, which are considered industry standards for hunting projectiles. The rationale for the deal is rooted in the buyer's broader industrial strategy to reinforce its "Made in France" positioning and contribute to national sovereignty by internalizing the production of critical components within the shooting and defense supply chain

Leonardo has completed the acquisition of 100% of the share capital of IDV Group S.r.l. from the Iveco Group. The acquisition is a cornerstone of Leonardo's strategy to establish itself as a dominant European leader in land defense by integrating IDV’s world-class vehicle platforms with Leonardo’s electronics, turrets, and software suites. The strategic rationale focuses on creating a national and European champion capable of delivering fully integrated tracked and wheeled platforms. By absorbing its long-term partner in the CIO consortium, Leonardo removes internal friction and accelerates the joint development of next-generation armored vehicles