NOVAKAMP acquired by SIPAREX, SOCADIF & BNP PARIBAS DEVELOPPEMENT

Bombardier, through its U.S. subsidiary Learjet Inc., has acquired 100% of Velocity Maintenance Solutions. While financial terms remain confidential, the deal marks a significant expansion of Bombardier’s U.S. service footprint. The strategic rationale is to integrate Velocity’s specialized AOG capabilities and its mobile repair truck fleet into Bombardier’s top-ranked service network. The acquisition provides Bombardier with a strategic physical presence at Wilmington Airport (Delaware) and significantly boosts its mobile response capabilities across the U.S. East Coast. This move is timed to support the entry-into-service of the newly certified Global 8000, ensuring that owners of these ultra-long-range aircraft have immediate access to high-standard maintenance and support. By internalizing these services, Bombardier aims to increase recurring service revenue and maintain direct control over the quality of the customer experience, aligning with its long-term growth strategy for its aftermarket division.

Nexteam acquired Ucelia from Noe Industries in a competitive auction process involving both industrial players and private equity funds. The transaction was closely monitored by the French State due to the target's strategic role in the Rafale fighter jet supply chain. The acquisition allows Nexteam to consolidate the fragmented sand-casting market, creating a dedicated division with €70 million in revenue. For the sellers, the deal marks a successful three-year turnaround cycle, delivering a significant valuation step-up.

UUDS completed its first-ever Management Buy-Out (MBO) with Capza taking a majority stake. This primary LBO allowed the founder to hand over majority control while retaining a minority stake alongside CEO and key managers. The transaction was supported by a senior debt package arranged by a pool of major French banks with a leverage of less than 4x EBITDA. The financing includes a dedicated CAPEX line to fund future acquisitions, following the successful integration of Satys' cabin division. This deal aims to propel UUDS past the EUR100 million revenue mark in 2025 by capitalizing on the booming demand for premium cabin retrofitting.

Harmattan AI has successfully raised $200 million (€171.2 million) in a Series B funding round led by the strategic industrial giant Dassault Aviation and Bpifrance. This capital increase follows previous rounds from FirstMark Capital, W Ventures, and Atlantic Labs, marking a definitive shift toward French and European strategic ownership. The strategic rationale for the partnership centers on the development of embedded AI for the future Rafale F5 and accompanying UCAS (Unmanned Combat Air Systems). Harmattan AI’s technology will provide the autonomous decision-making required for unit control without on-board pilots. The funds are earmarked for a massive industrial scale-up, including a move to a new production facility near Orly to meet a combined backlog of over 4,000 units for French and British forces. This rare alliance between a major aeronautics group and a disruptive startup structures the future of sovereign French combat cloud and autonomous warfare.

FAE Technology S.p.A. has completed the first closing for the acquisition of 100% of the share capital of Kayser Italia S.r.l. and Kayser Space Ltd. This transaction officially marks the launch of the FAE Technology Space Division, a new business unit dedicated to supporting space exploration and microgravity research. The integration aims to combine Kayser’s specialist aerospace expertise with FAE’s industrial and technological infrastructure to serve the growing demand for LEO infrastructure and orbital services. The strategic rationale is to position FAE as a primary Italian player in the New Space Economy, bridging the gap between standard industrial electronics and mission-critical space hardware.

TransDigm has finalized the acquisition of Stellant Systems in an all-cash transaction, a maneuver designed to fundamentally reinforce the group's "proprietary-first" portfolio. The strategic rationale for this transaction centers on a "defense-aftermarket" play, merging the target's industry-leading technical operational depth in high-power electronics with the group’s proven value-generation playbook. This structural alignment provides the organization with the scientific talent and technological hardware required to address the surging global demand for critical electronics in space and satellite communications.

Loar Group acquired 100% of LMB Aerospace from a consortium led by Tikehau Capital (Aero Fund), Amundi, and IDIA Capital Investissement. The transaction represents a significant multiple for Tikehau (>2.5x MOIC), doubling the entry valuation from 2021. The deal was financed via an incremental term loan provided by Blackstone. Despite initial concerns regarding industrial sovereignty and opposition from the French DGA (Directorate General of Armaments), the French Ministry of Economy authorized the sale in late 2025.

Indra Group has reached an agreement with the CPS Group to acquire 100% of Wake Engineering’s UAS technology and assets. This strategic move is designed to accelerate Indra's response to the Spanish Ministry of Defence's Special Modernization Program (PEM), which envisages the supply of 49 medium-range Class-I UAS, including VTOL-capable platforms. The strategic rationale focuses on integrating Wake’s flight-proven VTOL capabilities into Indra’s existing TARSIS tactical drone family. This technological synergy allows for a common avionics base, reducing maintenance costs and enhancing interoperability across different branches of the armed forces. Beyond domestic programs, the acquisition positions Indra to compete for the €800 billion ReArm Europe plan, where VTOL solutions are increasingly prioritized for naval and border surveillance. The deal was supported by legal advisors Pérez-Llorca (for Indra) and Selier Abogados (for CPS/Wake), with Alvarez & Marsal providing financial due diligence.

Andera Partners structures a continuation fund to retain control of Spherea, a critical aerospace test equipment manufacturer acquired in 2019. This "GP-led" transaction allows historical investors (like Omnes Capital and old Andera funds) to exit, while bringing in new long-term backers: Unigestion and Mubadala Capital. This setup provides Spherea and its CEO Christian Dabasse with additional time and capital to pursue acquisitions in the defense and railway sectors, aiming to double the company's size within 4-5 years.

Arcline Investment Management has entered into a definitive agreement to acquire 100% of Novaria Group from KKR in an all-cash transaction. The deal marks a full exit for KKR, which had supported Novaria's rapid expansion since 2020. The strategic rationale for Arcline is to leverage Novaria as a premier platform for further consolidation in the highly fragmented aerospace component market. The transaction comes at a period of robust demand for commercial air travel and a significant ramp-up in OEM build rates (Boeing MAX, 777, and Airbus platforms). Arcline intends to partner with the existing management team, led by founder Bryan Perkins, to continue executing a strategy of innovation and niche acquisitions. The deal was advised by Guggenheim Securities (Financial) and Ropes & Gray LLP together with Paul Hastings LLP (Legal).