VELOCITY MAINTENANCE SOLUTIONS acquired by BOMBARDIER

The sale of the aerospace division marks the culmination of a strategic review initiated by TriMas Corporation to simplify its historical "mini-conglomerate" structure. This move was heavily influenced by activist shareholder Barington Capital, which advocated for a definitive separation of the packaging and aerospace businesses to eliminate the valuation discount associated with diversified industrials. The rationale centers on a "portfolio-purification" play, allowing the seller to reallocate capital toward life sciences and high-growth consumer packaging segments

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

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

SLX Group's acquisition of 100% of Clements Engineering's share capital is a strategic move aimed at bolstering the group's industrial capabilities in the marine engineering sector. This transaction enables SLX Group to complement its historical distribution and technical services business by integrating renowned precision manufacturing expertise, thereby strengthening its positioning across the entire marine equipment value chain. The partnership is built on a strong complementarity between Clements Engineering's production capabilities and SLX Group's commercial network, as well as its support services

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)

A consortium led by Siparex Midcap acquired a majority stake in Novakamp, facilitating the full exit of the previous sponsor, Sparring Capital. The deal involves significant reinvestment from the management team. Under Sparring's tenure (2020-2025), Novakamp doubled its revenue to EUR50M through organic growth and acquisitions (such as Fauche's generator division). The new shareholders aim to reach a 50/50 balance between military and civil activities while capitalizing on the current geopolitical context which favors the redeployment and modernization of military support infrastructures

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

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

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