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2 0 1 0 2 0 0 9 2 0 0 8 2 0 0 7 2 0 0 6 2 0 0 5 2 0 0 4 2 0 0 3 2 0 0 2 2 0 0 1 2 0 0 0 1 9 9 9 1 9 9 8 1 9 9 7 1 9 9 6 1 9 9 5 1 9 9 4 1 9 9 3 2 0 1 0 2 0 0 9 2 0 0 8 2 0 0 7 2 0 0 6 2 0 0 5 2 0 0 4 2 0 0 3 2 0 0 2 2 0 0 1 2 0 0 0 1 9 9 9 1 9 9 8 1 9 9 7 1 9 9 6 1 9 9 5 1 9 9 4 1 9 9 3 Nationality Area = enterprise value in billions Divestiture Communications/Electronics Aircraft Missiles/Launchers Federal IT/Tech Services Marine Land Primary/Secondary Sector(s) France Germany United States United Kingdom Other Legend Enterprise Value at EOY 2010 Area = Acquisition value or trailing-year revenues Examples $20B $10 Billion Land and Aircraft Germany 4Q 1997 $1 Billion Marine France 3Q 1994 $5 Billion Federal IT/ Tech Services United Kingdom 2Q 1993 $0.5 Billion Missiles/Launchers United States 3Q 1995 Entity divested in 3Q 1996 Acquired from other map entity 1 9 9 7 1 9 9 6 1 9 9 5 1 9 9 4 1 9 9 3 Steven C. Grundman Vice President John Hancock Tower 200 Clarendon Street, T-33 Boston, MA 02116-5092 +1-617-425-3168 [email protected] www.crai.com/aerospace Charles River Associates Aerospace & Defense Mergers & Acquisitions Map (January 1993 – December 2010) Copyright 2011 Charles River Associates Copyright 2011 Charles River Associates Copyright 2011 Charles River Associates Copyright 2011 Charles River Associates Marine Systems to Hughes Kilgore Flares to Chemring Astra UPC Ferrulmatic Hercules Aerospace Motorola Fuzing Alcoa Thiokol Blount SEG Boeing Ordnance Science & Applied Technology Composite Optics Simmons Outdoor to Meade Instruments Allied Aerospace GASL/Micro Craft PSI Group Mission Research Lithium Ion Battery business to EnerSys Swales Aerospace Eagle Industries Unlimited Blackhawk Industries Alliant Techsystems ATK $4B Synectics GEC Tracor Alphatech Practical Imagineering Maridan DigitalNet Piper Group MEVATEC APTI Heckler & Koch to mgmt Advanced Systems Gaithersburg to IDT Flight Training & Simulation to CAE BAE Systems Canada to ONCAP/Onex Siemens Plessey Electronics Shorts Military Vehicles GEC Marconi Electronic Systems LM Aerospace Electronic Systems Corbett Technologies AWA Defense Industries Imaging Sensors to Carlyle Group Radomes to Cobham BAe Australia military vehicles to Tenix RO liquid engines to Atlantic Research Space Systems to Matra Marconi Space Femtometrics Watkins Johnson Corporate Jets to Raytheon LM Control Systems Camouflage, Concealment and Deception to Saab Barracuda Avionics to Meggitt Condor Pacific Land Comms to Cobham Ocean Systems to Ultra Electronics Atlas Elektronik to EADS ThyssenKrupp Military and secure comms to Finmeccanica STN Atlas Naval Systems stake Alvis STI Government Systems EW Passive Expendables to Esterline Fin actuation to United Technologies Aerostructures to Spirit AeroSystems United Defense Petards surveillance software National Sensor Systems TAMIS products to Rannoch Regional Aircraft Training to GCAT Flight Academy SELEX Sensors and Airborne Systems stake to Finmeccanica Inertial Products to JF Lehman Detica Group Tenix Defence IST Dynamics MTC Technologies Pitch Technologies Armor Holdings Centigon International to Carat Duchatelet Holdings Sensors & Antenna Systems to Cobham Container Solutions to Rocky River Holdings OASYS Technology Atlantic Marine BVT Surface Fleet Advanced Ceramics Research UK portion of AMS GEC-Marconi British Aerospace BAE Systems $19B Jeppesen Sanderson SBS International Conquest Frontier Systems Carmen Systems Aviall Hughes Space & Communications Preston Group McDonnell Douglas Alliant Marine Systems Magnavox Electronic Systems Litton Itek CAE Link Hughes St. Louis fabrication operations to GKN Sensors & Electronic Systems to DRS Rockwell Litton Precision Gear Precision Gear to Derlan Information Services to SAIC ARGO Systems to Condor Autometric Hawker de Havilland Flight Training to GECAS Avicom to Rockwell Hughes Aircraft to Raytheon Inertial Systems to Litton Rediffusion Simulation to Thomson-CSF Ordnance to ATK Spokane facility to Triumph Electron Dynamic Devices to L-3 Wichita/Tulsa facilities to Onex Rocketdyne to United Technologies Digital Cinema to AccessIT Flight Safety Boeing Continental Graphics On Demand Mfg to RMB Products Arnprior facility to Consolidated Industries Boeing Commercial Electronics to BAE Corinth facility to Snecma Hughes C-Map Insitu Vought Aircraft Industries 787 facility Argon ST Ocean Systems Narus RavenWing Digital Receiver Technologies Global Aeronautica stake eXMeritus Federated Software Group Tapestry Solutions Civil helicopters to RDM ACESII Ejection Seat to Goodrich Kestrel Enterprises Boeing CDM Technologies Summit Aeronautics Group Boeing $50B Fluid & Air product line FR Electronics ACR Electronics Credowan Satori Hyper Technologies Conax Artex Nurad Technologies Lincoln Laser Wulfsberg FM Radio product line ML Aviation & Lifeguard Equipment Wallop Industries Flexcom Slingsby Aviation & Engineering Argotek Safelife Global Microwave Systems M/A-COM MMI Research BAE Sensors & Antenna Systems SPARTA S-TEC Patriot Antenna Systems Domo Tracstar Microwave Development Vector Fields H. Koch & Sons REMEC Defense and Space Label Mastsystem International Oy TCRMA WA Systems Temex Diodes CTM Spectronic Denmark NEC Aero DTC Communications Pentar Avionics Precision Antennas Aerosynergies Sierracin’s Harrison Division (Stanley Harrison) ERA Technology TransAustralian Air Nauticast Litton Life Support Thales Antennas Novatech Designs Drager Aerospace dB Systems Atlas Composites Xybion Sensor Positioning Systems Orion Electronics BAE Land Comms Hyper Industrie et Numeriques Micromill Electronics Airtron Microwave Products Coefi Applied Composites Seimac Omnipless Team SMS Satori Air Services GTE Salies Transco BAE Radomes National Jet Systems European Antennas Sivers Lab Starec Continental Microwave & Tool CAA Flight Calibration Airborne Hydraulics Kevlin Westwind Air Bearings H&W Industries Rayan Sargent Fletcher FLS Aerospace Comant Industries Atlantic Microwave High Temperature Engineers Complas Sea Tel Aerolec Sierra Flight Systems Markhorst Vastgoed Snipe Saunders Valve Hymatic Engineering Lincoln Laser Culham Electro-magnetics & Lighting ML Lifeguard Slingsby Engineering Westwind Air Bearings FR HiTemp Avery Hardoll to Meggitt Alan Cobham Engineering FR Countermeasures Wallop Defense Systems Flight Precision Precision Antennas Aerodata Flight Inspection Atlas Composites Slingsby Aviation Drager Aerospace Chelton Applied Composites M/A-COM product line Satori SAS M/A-COM Technology Solutions Cobham Cobham $4B RVision Stanley Harrison Sextant ATE SODERN Cogent Defense Systems Australian Aerospace Nortel Cogent Astrium Racal Instruments Dutch Space Talon Instruments IFR Sofrelog Nokia Professional Mobile Radio business Paradigm Secure Communications Aerospatiale Matra DaimlerChrysler Aerospace Siemens Defense Electronics Matra Hautes Technologies CAC Systemes Sycomore Giravions Dorand Aeroformation Elekluft Elektronik to Serco MTU to DiamlerChrysler CMS Group to Primex Dornier Luftfahrt to Fairchild Telefunken Sendertechnik to Tech-Sym Airport Systems to Honeywell Aerospatiale Dynamic Process Solutions McAlpine Helicopters Get Electronique Les Ulis naval and ground to Safran Sogerma Services aircraft maintenance to TAT Sabena Technics PlantCML Auspace to Nova Aerospace Airbus Laupheim facility to Diehl/Thales Dasell Cabin to Diehl Airbus Filton facility to GKN REVIMA to United Technologies Airbus Surrey Satellite Technology Aeroframe Services to Linden Street Capital Dasell Cabin Enginyeria i Fotogrametria Daimler-Benz Aerospace Construccionnes Aeronauticas Aviospace Regency IT Jena-Optronik Airbus Corporate Jet Centre Trig-Tek Nammo Demil EADS $12B Finmeccanica SELEX Sensors and Airborne Systems stake Datamat Ingegneria dei Sistemi BAE Systems Military and Secure Communications AMS Air Traffic Mgmt Soneticom Lasertel Marconi OTE Marconi Strategic Communications Telespazio AMS Italian operations GKN AgustaWestland stake Forezio Aermacchi stake Microelettronica Italiana EFIM (defense operations) DRS Technologies VEGA Group Agusta SpA to Officine Aeronavali Dee Howard to mgmt Alenia engine nacelles business to Aermacchi Global Aeronautica stake to Boeing Europea Microfusioni Aerospaziali CenGen Finmeccanica $14B Fort Worth to Lockheed Electronics mfg to Elbit/Crossroads Electronics to Carlyle Group Missile operations to Hughes Lucent ATS Bath Iron Works Teledyne Vehicle Systems Lockheed Martin Defense/Armaments NASSCO Holdings, Inc. Computing Devices International Galaxy Aerospace Primex Technology Santa Barbara Saco Defense GTE Government Systems Gulfstream Aerospace Space Systems to Martin Marietta Space Propulsion to Aerojet Applied Remote Technology to Raytheon Motorola IISG Eisenwerke Kaiserlautern Command System Advanced Technical Products Datron IMCO Steyr Spezialfahrzeug MAYA Viz Itronix Chamberlain Mfg (Scranton) Anteon Mediaware International Monteria SNC Technologies FC Business Systems Tadpole Computer Engineering Technology Veridian GM Defense Creative Technology Digital System Resources TriPoint Global Spectrum Astro Aeronautics Services to Wyle Labs Airborne Electronic Systems to Astronics C4 Systems Interactive to KoolConnect Technologies Selected business units to Alion Aeronautics & Transportation Testing to Calspan Propulsion Systems to L-3 Murcia Plant to Expal Jet Aviation AxleTech Axsys Technologies K Services Kylmar EBV Explosives Environmental Company HLTH ViPS Integrated Defense Systems WECO Aerospace Systems American Ordnance to Day & Zimmerman Spacecraft Development & Mfg. to Orbital Sciences General Dynamics General Dynamics $28B GTE Spacenet Corp Unison Industries TPI Aviation Garrett Aviation Services ElectroSonics Lockheed Martin Aerostructures Kilsen Ion Track SI Pressure Instruments MJ Harden Ramix Aerotech Tubetronics DNA Computing Solutions Edwards Systems Technology Agfa non-destructive testing business InVision Technologies Walter Engines Turbomecania Combustor Products Smiths Aerospace CoVi Technologies Naverus SBS Technologies Radstone Technology Condor Engineering Aircraft Parts Greenwich Air Services UNC AmeriData Technologies Bosch Telecom Aviation Systems product line to Moog Security to United Technologies Times Microwave Systems to Amphenol Genesis Lease MJ Harden to GeoEye Turkish Aerospace Industries stake to Turkish Aircraft Industries Garrett Aviation Services Centers to Carlyle Group SimuFlite Training International to CAE Unison Aircraft Parts to TransDigm Unison ignition product line to TransDigm Panametrics Space Instrumentations to Assurance Technology Turbine Clearance Control product line to Meggitt Canadian Marconi to BAE Aircraft Engines business to BFGoodrich Tri-Manufacturing to TI Group Engines Controls business to Lockheed Martin Aerospace business to Martin Marietta General Electric (not to scale) SimuFlite Training General Electric $574B Bourns Recon/Optical TEAC Aerospace JcAIR Test Systems to Aeroflex Avionics Systems to L-3 Engine Electrical Systems to Unison Hughey & Phillips Airport Lighting Marine Bearings to Duramax TRW Aeronautical Systems Sensors Unlimited Hella Aerospace Dana Glacier Bearings Air Science Engineering Humphrey REMEC Autoliv OEA Aerospace Raytheon Optical Systems Corning EO Sensors Advanced Creations IBP Aerospace EDO Barnes Boeing ACES II Ejection Seats ITHACO Space Systems Coltec AMMI Rohr Gulton Mark IV Lucas De-Icing Sheldahl Hoskins Aviation Lighting Technology Integration Weed Aerospace Emerson Rosemount Aerospace GE Specialty Heating & Avionics Power Abex ClevelandPneumatic Atlantic Instruments Universal Propulsion Aviation Technical Services to Macquarie Cloud Cap Technology Crompton Technology Atlantic Intertial Systems Decrane Cabin Management Skyline Industries Goodrich Goodrich $12B Grimes Aerospace Banner Aerospace Operations Normalair/Garrett Tristar Aerospace Communications to Raytheon Ocean Systems to L-3 Trimble Air Transport Systems Mora Aerospace Chadwick-Helmuth Baker Electronics The Gamewell Co. Silent Witness Quantum Laser AlliedSignal Honeywell Hermetic Aircraft to AAR TCAS to L-3 DASA Airport Systems Hughey & Phillips First Move Facilities Management Febu Bergen Mantenimiento y Control Internacional de Mantenimiento Smiths FOG Aerospatiale Canada to Thales DuPont Lanxide Composites GKN Hermetic Aircraft LORI Heat Exchange Northrop Grumman Precision Products ELAC-Nautik to AlliedSignal Advanced Circuits to TTM Advanced Composites to GE ADS Australia to Raytheon First Technology Safety & Analysis to HgCapital Indalex Aluminum Solutions to Sun Capital Partners ESSER Fire Alarm to DEF Security Monitoring to GTCR Golder Rauner Hymatic Group Genesis Cable Systems Novar Maxon Hand Held Productions Intelligent Automation Dimensions International Richardson Burtek & Security Systems Sperian Protection Datalynx to Universal Space Network Sentel Corp to private investors Consumables Solutions to B/E Aerospace Pittway Space & Navigation to L-3 Advanced Control and Simulation Alarme et Protection ESS Group INU Control Honeywell Allied-Signal Honeywell $46B ILEX Systems SPD Technologies Storm Control Systems Interstate Electronics TrexCom LNR/EMP Bulova Defense Emergent Government Services PerkinElmer Detection Spar Aerospace Celerity Systems to Aeroflex Coleman Research Raytheon Flight Training EnvisoNet AlliedSignal Space & Navigation Aydin Microdyne Satellite Transmissions System L-3 Communications KDI Precision Products Aeromet SY Technology MPRI Honeywell TCAS Electrodynamics ESSCO Network Security to Symantec Hycor to Sippican Com-Cept TMA Westwood International Microwave Wescam Ship Analytics Electron Devices & Displays AlliedSignal Ocean Systems Goodrich Avionics Systems Vertex Aerospace Nova Engineering TRL Electronics Nautronix Defence Crestview Aerospace SSG Precision Optronics CyTerra Advanced System Architectures SAM Electronics Sonoma Design Group Mobile-Vision InfraredVision Technology Ipicom Ipitek OYO Klein Associates EOTech Titan Joseph Sheairs Associates Applied Signal and Image Technology BAI Aerosystems General Dynamics Propulsion Systems Boeing Electron Dynamic Devices Pyramid Vision Video Security D.P. Associates Avisys Brashear Beamhit Northrop Grumman Navigation and Space Sensors Canada Cincinnati Electronics Raytheon Commercial Infrared Bombardier Military Aviation Services CAE Marine Controls Global Communications Solutions Geneva Aerospace Magnet-Motor SafeView TCS Design and Management Services Insight Technology GA International Electronics 3Di Technologies Airborne Technologies Northrop Grumman Electro-Optical Systems HSA Systems Medical Education Technologies to management International Resources Group Chesapeake Sciences Raytheon Aircraft Integration Sarnoff Video Security Datron Systems EER Systems L-3 Communications $12B Ten businesses Defense/Armaments to General Dynamics Aerostructures to GE Orincon Comsat Mobile to Telenor Electro Mechanical Systems to DRS LM Aerospace Electronic Systems to BAE Systems LM Control Systems to BAE Systems World Systems CDTI to Intelsat Comsat General to Intelsat Enterprise Integration to Veritas Comsat to World Data Unisys Defense Systems IBM Federal Systems LTV Missiles General Dynamics Space Systems Martin Marietta Lockheed Loral Defense Electronics Loral Space & Communications Fabrica Militar de Aviones ACS federal Commercial Solutions to ACS SYTEX Group Coherent Technologies INSYS Group STASYS Sippican Astrolink GE Aerospace General Dynamics Fort Worth Pacific Architects and Engineers Savi Technology PercepTek 3Dsolve RLM Systems Management Systems Designers ISX HMT Vehicles Aspen Systems Nantero Government Aculight IMS Strategic Support Universal Systems & Technology Gyrocam Systems RLM Holdings Eagle Group International AeroText to Rocket Software Compass Computer Services to Sensei Enterprises Lockheed Khrunichev Energia to Space Transport GE Engine Controls COMSAT OAO Loral Lockheed Martin Marietta Lockheed Martin $27B Ryan Aeronautical Navia Aviation Precision Gear to Boeing Intevac E-OSystems Vought Aircraft Imo Electro Optics PRC PRC AEGIS Services to Tracor Teldix Racal Marine Avondale TASC Denro Weather Services to Landmark Communications Teledyne Ryan Hexcel EMT Material Logicon Westinghouse INRI Sperry Marine SAI Technology Sterling Software Federal Systems Comptek Research California Microwave ISD DPC Technologies Commercial Aerostructures to Carlyle Group Electron Devices & Displays to L-3 Newport News Shipbuilding Litton Industries Mannesmann Dematic Postal Network Six TRW XonTech Fibersense Technology Federal Data Corp Ferretec Teledyne Electronic Systems Fibercom Raytheon Microwave & PowerTube Precision Products to AlliedSignal ITEK to Hughes Hughes Inertial Systems VEAM/TEC to ITT SciTec to mgmt Poly-Scientific to Moog Kester to American Capital Automotive to Blackstone Group Life Support to Cobham Cutting Edge Optronics Electronic Products to ETA Technologies Aeronautical Systems to Goodrich Lucas Varity BDM International Astro Aerospace Pierburg Luftfahrtgerate Illgen Simula Confluent RF Systems Navigation & Space Sensors Canada to L-3 Winchester Electronics to Audax Group Teldix to Rockwell Collins Airtron Microwave Products to Cobham SiC Group to II-VI Motion Controls & Sonar Canada to Wescan Integic Grumman Scaled Composites AMSEC naval programs Essex 3001 Swift Engineering KillerBee product line Commercial Communications Products to Avanex Electro-Optical Systems to L-3 TASC to General Atlantic & KKR Aerojet EIS Northrup Grumman Canada to Wescan Lucas Fabricated Systems to MB Aerospace Litton Industries TRW Northrop Northrop Grumman $21B Aerospace Co. to Veritas Capital Montek Division to Moog E-Systems, Inc. BAe Corporate Jets General Dynamics Applied Remote Technology Chrysler ESI &CTAS JPS Communications Honeywell ADS Australia Photon Research Associates UTD Virtual Technology Oakley Networks Sarcos Research Telemus Solutions SI Government Solutions Solipsys AlliedSignal Communications Hughes Aircraft Optical Systems to Goodrich Sonobuoys to Ultra Electronics MMIC Operations to TriQuint Microwave & Power Tube Division to Litton Aircraft Services FBOs to Mercury Air AIS to L-3 Texas Instrument DSEG RF Components to Fairchild Semiconductor Aerial Targets to Composite Engineering Commercial Infrared to L-3 Ground EO/FPA to DRS Flight Options to HIG Capital Raytheon Aircraft to Onex/GS Capital Houston Associates BBN Technologies Trusted Computer Solutions Technology Associates Compucat Research Flight Training to L3 Raytheon Raytheon $17B Information Technology & Applications Aerospace & Defense to Boeing Rockwell Collins Teldix IP Unwired Anzus Evans & Sutherland simulation NLX Airshow Communication Solutions Kaiser Fluid Technologies to Tactair Fluid Controls Rockwell Scientific to Teledyne Kaiser Aerospace & Electronics Sony Trans Com Intertrade Flight Dynamics Hughes-Avicom Rockwell Automation United Technologies Microelectronics Center Blue Ridge Simulation SEOS Athena Technologies Air Routing International DataPath Rockwell International Rockwell Collins $9B Seaworthy Systems Gear Systems to Triumph Vickers Defence Systems to Alvis Vickers Turbine Components to RBS Group Bristol Aerospace to Megellan Aerospace SAIC Data Systems & Solutions stake VT Controls INTERING BMW Rolls-Royce stake Vickers LucasVarity Geared Systems Allison Engine FAvS National Airmotive Rolls-Royce Europea Microfusioni Aerospaziali Rolls-Royce $16B Gespac Integration Boeing Corinth facility Snecma Sabena Engine Service stake Teuchos Sopartech e-Software Leica Vectronix Morpho Systemes ARNAV Systems Sagem Robonic EADS Les Ulis naval and ground Interstar Technologies Snecma SMA stake Optics 1 Messier-Bugatti-Tracer Harvard Custom Manufacturing Motorola biometrics business Techspace Aero military MRO to United Technologies Sagem Securite Electronic Payment Business to Ingenico Cinch Connectors to Bel Fuse Snecma Sagem Safran $16B Racal Instruments to Thomas Weisel/JF Lehman Aeronautical Services to SAS Antennas to Cobham Avimo Group Experlan Global Control Arisem ADI Limited Alcatel transport & security assets Racal Electronics Sextant Avionique Hughes Rediffusion Simulation ADI Acoustics to JF Lehman High Tech Optics to Candover Investments Thales Navigation to Shah Capital Partners Shorts Missile Systems Alcatel Military Communications Magellan Altech African Defense Systems Wormald Technology Deutsche System Thorn-EMI MLR Electronique AlliedSignal Aerospatiale Canada Telematics to Cybit Holdings Optronics beryllium mirrors to GSI Group Thales Computers to Kontron Thales Alenia Space Antwerp to OHB Technology SVS TDA Armament Barco Maritime Safety & Surveillance nCipher Texen to Barco N.V. Thomson-CSF Thales $8B DF Group Raytheon Sono-bouy product line Flightline Electronics Power Magnetics & Electronics Systems EMS Development Corp Videcom Winfrith Safety Systems Polyflex Aerospace Radamec Defence Systems CMC Electronics Military Communications Measurement Systems Devtek Applied Electronics Ltd DNE Systems Helitune Ultra Audiopack Technologies Horizon Aerospace Telemus Avalon Systems Tisys Descam Consulting Magneto-Inductive Systems CritiCom Siemens Radmon Transmag Power Systems Extec Integrated Systems Scytale Xerion Weed Instrument Company Harris Acoustic Products ProLogic AudioSoft Atkins & Partners Graytronics BCF Designs Advanced Programming Concepts Sparton of Canada Ocean Systems from BAE Systems SML Technologies Ultra Electronics $2B Airport Systems Dowty Electronic Systems Solid rockets to Aerojet WFEL to Dunedin Capital Partners Photonics to Uniphase Altair Avionics Orbital Sensor Systems Magnaghi Hydraulics Cade Industries Dallas Aerospace Braathens Engine Maintenance Caribe Aviation Space Power Turbotech Repairs Claverham Group Derco Great Lakes Turbine IMI Marston Aerospace Helicopter Support Ratier-Figeac Howmet Airfoil Refurbishment Sundstrand Interturbine Flight Repair P&W Klimov H+S Aviation Overhaul Nordam Propulsion Systems Dynamic Controls Koor Carmel Forge Helitech Aerospace Services Schweizer Aircraft Keystone Ranger Holdings Page Group Initial Sécurité Rentokil Initial Electronic Security SFS Fire Services Precision Engine Controls PZL-Mielec Aircraft Invensys Firex Safety CTA BAE Systems fin actuation Boeing Rocketdyne Lenel Systems Keystone Flight Services to Seacor ARDE Lifeport GST Detection Logic Fire Protection Techspace Aero military MRO REVIMA Chubb Rzeszow Chubb New Zealand to ISS Facilities Services MSS Security Group to SIS India Microtecnica to Stirling Square Capital Adaptive Optics to Metrologic United Technologies GE Security United Technologies $81B Microelectronics Center to Rockwell Collins
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Page 1: Charles River Associates - Grundman Advisorygrundmanadvisory.com/wp-content/uploads/2011/03/CRA-AD-MA-MAP-May...Watkins Johnson Corporate Jets to Raytheon ... Precision Antennas Sierracin’s

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Nationality

Area = enterprise value in billions

Divestiture

Communications/Electronics

Aircraft

Missiles/Launchers

Federal IT/Tech Services

Marine

Land

Primary/Secondary Sector(s)

France

Germany

United States

United Kingdom

Other

LegendEnterprise Value at EOY 2010

Area = Acquisition value or trailing-year revenues

Examples$20B

$10 BillionLand and AircraftGermany4Q 1997

$1 BillionMarineFrance3Q 1994

$5 BillionFederal IT/Tech ServicesUnited Kingdom2Q 1993

$0.5 BillionMissiles/LaunchersUnited States3Q 1995

Entity divestedin 3Q 1996

Acquired from other map entity

1997

1996

1995

1994

1993

Steven C. GrundmanVice President

John Hancock Tower200 Clarendon Street, T-33Boston, MA [email protected]

www.crai.com/aerospace

Charles River AssociatesAerospace & Defense Mergers & Acquisitions Map (January 1993 – December 2010)

Copyright 2011 Charles River AssociatesCopyright 2011 Charles River AssociatesCopyright 2011 Charles River Associates Copyright 2011 Charles River Associates

Marine Systemsto Hughes

Kilgore Flares to Chemring

Astra UPC

Ferrulmatic

Hercules Aerospace

Motorola Fuzing

Alcoa Thiokol

Blount SEG

Boeing Ordnance

Science & Applied Technology

Composite Optics

Simmons Outdoor to Meade Instruments

Allied Aerospace GASL/Micro Craft

PSI Group

MissionResearch

Lithium Ion Battery business to EnerSys

Swales Aerospace

Eagle Industries Unlimited

Blackhawk Industries

Alliant Techsystems

ATK$4B

Synectics

GEC

Tracor

Alphatech

Practical Imagineering

Maridan

DigitalNet

Piper GroupMEVATECAPTI

Heckler & Koch to mgmt

Advanced Systems Gaithersburg to IDT

Flight Training & Simulation to CAE

BAE Systems Canada to ONCAP/Onex

Siemens Plessey Electronics

Shorts Military Vehicles

GEC Marconi Electronic Systems

LM Aerospace Electronic Systems

Corbett Technologies

AWA Defense Industries

Imaging Sensors to Carlyle Group

Radomes to Cobham

BAe Australia military vehicles to Tenix

RO liquid engines to Atlantic Research

Space Systemsto Matra Marconi Space

FemtometricsWatkins Johnson

CorporateJets toRaytheon

LM Control Systems

Camouflage, Concealmentand Deception to Saab Barracuda

Avionics to Meggitt

Condor Pacific

Land Comms to Cobham

Ocean Systems toUltra Electronics

Atlas Elektronik to EADS ThyssenKrupp

Military and secure comms to Finmeccanica

STN Atlas Naval Systems stake

Alvis

STI Government Systems

EW Passive Expendables to Esterline

Fin actuation to United Technologies

Aerostructures to Spirit AeroSystems

UnitedDefense

Petards surveillance software

National Sensor SystemsTAMIS products

to Rannoch

Regional Aircraft Training to GCAT Flight Academy

SELEX Sensors and Airborne Systems stake to Finmeccanica

Inertial Productsto JF Lehman

Detica Group

Tenix Defence

IST Dynamics

MTC Technologies

Pitch Technologies

Armor Holdings

Centigon International to Carat Duchatelet Holdings

Sensors & Antenna Systems to Cobham

Container Solutions to Rocky River Holdings

OASYS Technology

Atlantic Marine

BVT Surface Fleet

Advanced Ceramics Research

UK portion of AMS

GEC-MarconiBritish

Aerospace

BAE Systems$19B

JeppesenSanderson

SBS International

Conquest

Frontier Systems

Carmen Systems

Aviall

Hughes Space &Communications

Preston Group

McDonnell Douglas

Alliant MarineSystems

Magnavox Electronic Systems

Litton Itek

CAE Link

Hughes

St. Louis fabrication operations to GKN

Sensors & Electronic Systems to DRS

Rockwell

Litton Precision Gear

Precision Gearto Derlan

Information Servicesto SAIC ARGO Systems

to Condor

Autometric

Hawker de Havilland

Flight Training to GECAS

Avicom to Rockwell

Hughes Aircraft to Raytheon

Inertial Systemsto Litton

Rediffusion Simulation to Thomson-CSF

Ordnance to ATK

Spokane facility to Triumph

Electron Dynamic Devices to L-3

Wichita/Tulsa facilities to Onex

Rocketdyne to United Technologies

Digital Cinemato AccessIT

Flight Safety Boeing

ContinentalGraphics

On Demand Mfg to RMB

Products

Arnprior facility to Consolidated Industries

Boeing Commercial Electronics to BAE

Corinth facility to Snecma

Hughes

C-Map

Insitu

Vought Aircraft Industries 787 facility

Argon ST

Ocean Systems

Narus

RavenWing

Digital ReceiverTechnologies

Global Aeronautica stake

eXMeritus

FederatedSoftware Group

Tapestry Solutions

Civil helicopters to RDM

ACESII Ejection Seat to Goodrich

Kestrel Enterprises

Boeing

CDM TechnologiesSummitAeronautics

Group

Boeing$50B

Fluid & Air product line

FR Electronics

ACR ElectronicsCredowan

SatoriHyper Technologies

ConaxArtex

Nurad TechnologiesLincoln Laser

WulfsbergFM Radio

product line

ML Aviation & Lifeguard Equipment

Wallop IndustriesFlexcom

SlingsbyAviation &

Engineering

Argotek

Safelife

Global MicrowaveSystems

M/A-COM

MMI ResearchBAE Sensors &Antenna Systems

SPARTA

S-TEC

Patriot Antenna Systems

Domo

Tracstar

Microwave DevelopmentVector Fields

H. Koch & Sons

REMEC Defenseand Space

LabelMastsystem International OyTCRMAWA Systems

Temex DiodesCTM

SpectronicDenmark

NEC AeroDTC Communications

Pentar AvionicsPrecision Antennas

AerosynergiesSierracin’s HarrisonDivision (Stanley Harrison)

ERA TechnologyTransAustralian Air

Nauticast

Litton Life SupportThales AntennasNovatech DesignsDrager AerospacedB SystemsAtlas CompositesXybion SensorPositioning SystemsOrion ElectronicsBAE Land Comms

Hyper Industrieet Numeriques

Micromill Electronics

Airtron MicrowaveProducts

Coefi

Applied Composites

SeimacOmniplessTeam

SMSSatori Air Services GTE

SaliesTransco

BAE Radomes

National Jet Systems

European Antennas

Sivers LabStarec

Continental Microwave& Tool

CAA FlightCalibration

Airborne HydraulicsKevlin

WestwindAir Bearings

H&WIndustries

Rayan

Sargent FletcherFLS Aerospace Comant Industries

AtlanticMicrowave

High TemperatureEngineers

Complas

Sea Tel

Aerolec

Sierra Flight Systems

MarkhorstVastgoed

Snipe

SaundersValve

Hymatic Engineering

Lincoln LaserCulham

Electro-magnetics& Lighting

ML LifeguardSlingsby Engineering

WestwindAir Bearings

FR HiTemp

Avery Hardoll to Meggitt

Alan Cobham Engineering

FR Countermeasures

Wallop Defense Systems

Flight Precision

Precision AntennasAerodata Flight Inspection

Atlas Composites Slingsby Aviation

Drager Aerospace

Chelton AppliedComposites

M/A-COM product line

Satori SAS

M/A-COM TechnologySolutions

Cobham

Cobham$4B

RVision

Stanley Harrison

Sextant ATE

SODERN

Cogent Defense Systems

Australian Aerospace

Nortel Cogent

Astrium

Racal Instruments

Dutch Space

Talon Instruments

IFR

Sofrelog

Nokia Professional Mobile Radio business

Paradigm Secure Communications

Aerospatiale Matra

DaimlerChrysler Aerospace

Siemens Defense Electronics

Matra Hautes Technologies

CAC Systemes

Sycomore

Giravions Dorand

Aeroformation

Elekluft Elektronik to Serco

MTU to DiamlerChrysler

CMS Group to Primex

Dornier Luftfahrt to Fairchild

TelefunkenSendertechnik

to Tech-Sym

Airport Systems to Honeywell

Aerospatiale

DynamicProcessSolutions

McAlpineHelicopters

Get Electronique

Les Ulis naval andground to Safran

Sogerma Servicesaircraft maintenance to

TAT Sabena Technics

PlantCML

Auspace to Nova Aerospace

Airbus Laupheim facility to

Diehl/Thales

Dasell Cabin to Diehl

Airbus Filtonfacility to GKN

REVIMA to United Technologies

Airbus

Surrey SatelliteTechnology

Aeroframe Services to Linden Street Capital

Dasell CabinEnginyeria i

Fotogrametria

Daimler-BenzAerospace

Construccionnes Aeronauticas

Aviospace

Regency IT

Jena-Optronik

Airbus CorporateJet Centre

Trig-Tek

Nammo Demil

EADS$12B

Finmeccanica

SELEX Sensorsand Airborne

Systems stake

Datamat Ingegneria dei Sistemi

BAE Systems Military and Secure Communications

AMS AirTraffic Mgmt

Soneticom

Lasertel

Marconi OTE

Marconi Strategic Communications

Telespazio

AMS Italian operations

GKN AgustaWestland stake

Forezio Aermacchi stake

Microelettronica Italiana

EFIM (defense operations)

DRS Technologies

VEGA Group

Agusta SpA toOfficine Aeronavali

Dee Howard to mgmt

Alenia enginenacelles business

to Aermacchi

Global Aeronauticastake to Boeing

Europea MicrofusioniAerospaziali

CenGen

Finmeccanica$14B

Fort Worthto LockheedElectronics mfg

to Elbit/Crossroads

Electronics to Carlyle GroupMissile operations

to Hughes

Lucent ATS

Bath Iron Works

Teledyne Vehicle Systems

Lockheed Martin Defense/Armaments

NASSCO Holdings, Inc.

Computing Devices International

Galaxy Aerospace

Primex Technology

Santa Barbara

Saco Defense

GTE Government Systems

Gulfstream Aerospace

Space Systems to Martin Marietta

Space Propulsion to Aerojet

Applied RemoteTechnology to Raytheon

Motorola IISG

EisenwerkeKaiserlautern Command

System

Advanced Technical Products

Datron IMCO

Steyr Spezialfahrzeug

MAYA Viz

Itronix

Chamberlain Mfg(Scranton) Anteon

Mediaware InternationalMonteria

SNC Technologies

FC Business Systems

Tadpole Computer

Engineering Technology

Veridian

GM DefenseCreative Technology

Digital System Resources

TriPoint Global

Spectrum Astro

Aeronautics Services to Wyle Labs

Airborne Electronic Systems to Astronics

C4 Systems Interactive to KoolConnect Technologies

Selected businessunits to Alion

Aeronautics & Transportation Testing to Calspan

Propulsion Systems to L-3

Murcia Plant to Expal

Jet Aviation

AxleTech

Axsys TechnologiesK Services

KylmarEBV ExplosivesEnvironmental

Company

HLTH ViPS

Integrated Defense Systems

WECO Aerospace Systems

American Ordnance to Day & Zimmerman

Spacecraft Development & Mfg. to Orbital Sciences

GeneralDynamics

General Dynamics$28B

GTE Spacenet Corp

Unison Industries

TPI Aviation

Garrett Aviation Services

ElectroSonics

Lockheed MartinAerostructures

Kilsen

Ion Track

SI Pressure Instruments

MJ Harden

Ramix

Aerotech Tubetronics

DNA Computing Solutions

Edwards SystemsTechnology

Agfa non-destructive testing business

InVision Technologies

Walter Engines

Turbomecania Combustor Products

SmithsAerospace

CoVi Technologies

Naverus

SBS Technologies

Radstone Technology

Condor Engineering

Aircraft Parts

GreenwichAir Services UNC

AmeriData Technologies

Bosch Telecom

Aviation Systems product line to Moog

Security to United Technologies

Times MicrowaveSystems to Amphenol

Genesis Lease

MJ Harden to GeoEye

Turkish Aerospace Industries stake to Turkish Aircraft Industries

Garrett Aviation ServicesCenters to Carlyle Group

SimuFlite TrainingInternational to CAE

Unison Aircraft Parts to TransDigm

Unison ignition product line to TransDigm

Panametrics SpaceInstrumentations to

Assurance Technology

Turbine Clearance Control product line to Meggitt

Canadian Marconito BAE

Aircraft Enginesbusiness to BFGoodrich

Tri-Manufacturing to TI Group

Engines Controls business to Lockheed Martin

Aerospace business to Martin Marietta

General Electric (not to scale)

SimuFlite Training

General Electric$574B

Bourns Recon/Optical

TEAC Aerospace

JcAIR Test Systemsto Aeroflex

Avionics Systems to L-3

Engine ElectricalSystems to Unison

Hughey & PhillipsAirport Lighting

Marine Bearingsto Duramax

TRW Aeronautical Systems

Sensors Unlimited

Hella Aerospace

Dana Glacier Bearings

Air Science Engineering

Humphrey REMECAutoliv OEA Aerospace

Raytheon Optical SystemsCorning EO Sensors

Advanced Creations

IBP Aerospace

EDO Barnes

Boeing ACES II Ejection Seats

ITHACOSpace Systems Coltec

AMMI

Rohr

Gulton Mark IV

Lucas De-Icing

Sheldahl Hoskins Aviation Lighting

Technology Integration

Weed Aerospace

EmersonRosemount

AerospaceGE SpecialtyHeating &Avionics Power

Abex ClevelandPneumatic

Atlantic Instruments

Universal Propulsion

Aviation Technical Services to Macquarie

Cloud Cap Technology

Crompton Technology

Atlantic Intertial Systems

Decrane Cabin Management

Skyline Industries

Goodrich

Goodrich $12B

Grimes Aerospace

Banner Aerospace Operations

Normalair/Garrett

Tristar Aerospace

Communicationsto Raytheon

Ocean Systems to L-3

Trimble Air Transport Systems

Mora Aerospace

Chadwick-Helmuth

Baker Electronics

The Gamewell Co.

Silent Witness

Quantum Laser

AlliedSignal Honeywell

Hermetic Aircraft to AAR

TCAS to L-3

DASA AirportSystems

Hughey & Phillips

First Move Facilities ManagementFebu Bergen

Mantenimiento y Control

Internacional de Mantenimiento

Smiths FOG

Aerospatiale Canada to Thales

DuPont Lanxide Composites

GKN Hermetic Aircraft

LORI Heat Exchange

Northrop GrummanPrecision Products

ELAC-Nautik to AlliedSignal

Advanced Circuits to TTM

Advanced Composites to GE

ADS Australia to Raytheon

First Technology Safety &Analysis to HgCapital

Indalex Aluminum Solutionsto Sun Capital Partners

ESSER Fire Alarm to DEF

Security Monitoring toGTCR Golder Rauner

Hymatic Group

Genesis Cable Systems

Novar

MaxonHand Held Productions

Intelligent Automation

Dimensions International

Richardson Burtek & Security Systems

Sperian Protection

Datalynx to UniversalSpace Network

Sentel Corp toprivate investors

Consumables Solutions to B/E Aerospace

Pittway

Space & Navigation to L-3

Advanced Control and Simulation

Alarme et ProtectionESS GroupINU Control

HoneywellAllied-Signal

Honeywell$46B

ILEX Systems

SPD Technologies

Storm Control Systems

Interstate Electronics

TrexCom LNR/EMP

Bulova DefenseEmergent Government Services

PerkinElmer Detection

Spar Aerospace

Celerity Systems to Aeroflex

Coleman Research

Raytheon Flight Training

EnvisoNet

AlliedSignal Space & Navigation

Aydin

Microdyne

Satellite Transmissions System

L-3 Communications

KDI Precision Products

Aeromet

SY Technology

MPRI

Honeywell TCAS

Electrodynamics

ESSCO

Network Security to Symantec

Hycor to Sippican

Com-Cept TMAWestwood

International Microwave

WescamShip Analytics

Electron Devices & Displays

AlliedSignal Ocean Systems

Goodrich Avionics Systems

Vertex Aerospace

Nova Engineering

TRL ElectronicsNautronix Defence

Crestview AerospaceSSG Precision Optronics

CyTerraAdvanced System Architectures

SAM Electronics

Sonoma Design Group Mobile-VisionInfraredVision Technology

Ipicom IpitekOYO Klein Associates

EOTechTitan

Joseph SheairsAssociates

Applied Signal and Image Technology

BAI Aerosystems

General Dynamics Propulsion SystemsBoeing Electron Dynamic Devices

Pyramid Vision Video Security

D.P. AssociatesAvisys

BrashearBeamhit

Northrop Grumman Navigation and Space Sensors Canada

Cincinnati Electronics

Raytheon Commercial Infrared

Bombardier MilitaryAviation Services

CAE Marine Controls

Global CommunicationsSolutions

Geneva Aerospace

Magnet-Motor SafeViewTCS Design and Management Services

Insight Technology

GA International Electronics

3Di TechnologiesAirborne

Technologies

Northrop Grumman Electro-Optical Systems

HSA Systems

Medical EducationTechnologies to management

International Resources Group

Chesapeake Sciences

Raytheon AircraftIntegration

Sarnoff Video Security

Datron SystemsEER Systems

L-3 Communications$12B

Ten businesses

Defense/Armamentsto General Dynamics

Aerostructures to GE

Orincon

Comsat Mobileto Telenor

Electro Mechanical Systems to DRS

LM Aerospace ElectronicSystems to BAE Systems

LM Control Systemsto BAE Systems

World Systems CDTI to Intelsat

Comsat Generalto Intelsat

Enterprise Integration to Veritas

Comsat to World Data

Unisys Defense Systems

IBM Federal Systems

LTV Missiles

General Dynamics Space Systems

Martin MariettaLockheed

Loral DefenseElectronics

Loral Space &Communications

Fabrica Militar de Aviones

ACS federalCommercial

Solutions to ACS

SYTEX Group

Coherent Technologies

INSYS Group

STASYSSippicanAstrolink

GE Aerospace

General DynamicsFort Worth

Pacific Architects and Engineers

Savi Technology

PercepTek

3Dsolve

RLM Systems

Management Systems Designers

ISX

HMT VehiclesAspen Systems

Nantero Government

Aculight

IMS Strategic Support

Universal Systems & Technology

Gyrocam Systems

RLM Holdings

Eagle Group International

AeroText toRocket Software

Compass ComputerServices to Sensei Enterprises

Lockheed KhrunichevEnergia to Space Transport

GE Engine Controls

COMSAT

OAO

LoralLockheedMartin

Marietta

Lockheed Martin$27B

Ryan Aeronautical

Navia Aviation

Precision Gear to Boeing

Intevac E-OSystems

Vought Aircraft

Imo Electro Optics

PRC

PRC AEGIS Servicesto Tracor

Teldix

Racal Marine

Avondale

TASC

Denro

Weather Services to Landmark Communications

Teledyne Ryan

Hexcel EMTMaterial

Logicon

Westinghouse

INRI

Sperry Marine

SAI Technology

Sterling Software Federal SystemsComptek Research

CaliforniaMicrowave ISD

DPC Technologies

Commercial Aerostructuresto Carlyle Group

Electron Devices & Displays to L-3

Newport News Shipbuilding

Litton Industries

Mannesmann Dematic Postal

NetworkSix

TRW

XonTech

Fibersense Technology

Federal Data Corp

Ferretec

Teledyne Electronic Systems

Fibercom

Raytheon Microwave& PowerTube

Precision Productsto AlliedSignal ITEK to Hughes

Hughes Inertial Systems

VEAM/TEC to ITT

SciTec to mgmtPoly-Scientific to Moog

Kester toAmerican Capital

Automotive to Blackstone Group

Life Support to Cobham

Cutting EdgeOptronics

Electronic Productsto ETA Technologies

AeronauticalSystems to

Goodrich

Lucas Varity

BDM International

Astro Aerospace

Pierburg Luftfahrtgerate

Illgen Simula

Confluent RF Systems

Navigation & Space Sensors Canada to L-3

Winchester Electronics to Audax Group

Teldix to Rockwell Collins

Airtron Microwave Products to Cobham

SiC Group to II-VI

Motion Controls & Sonar Canada to Wescan

Integic

Grumman

Scaled CompositesAMSEC naval programs

Essex

3001

Swift Engineering KillerBee product line

Commercial Communications Products to Avanex

Electro-Optical Systems to L-3

TASC to General Atlantic & KKR

Aerojet EIS

Northrup Grumman Canada to Wescan

Lucas Fabricated Systems toMB Aerospace

LittonIndustriesTRW Northrop

Northrop Grumman$21B

Aerospace Co. to Veritas Capital

Montek Division to Moog

E-Systems, Inc.

BAe Corporate Jets

GeneralDynamics Applied Remote Technology

Chrysler ESI &CTAS

JPS Communications

Honeywell ADS Australia

Photon Research Associates

UTD

Virtual Technology

Oakley Networks

Sarcos Research

Telemus Solutions

SI Government Solutions

Solipsys

AlliedSignalCommunications

Hughes Aircraft

Optical Systems to Goodrich

Sonobuoys to Ultra Electronics

MMIC Operationsto TriQuint

Microwave & PowerTube Division to Litton

Aircraft Services FBOsto Mercury Air

AIS to L-3

Texas Instrument DSEG

RF Components toFairchild Semiconductor

Aerial Targets to Composite Engineering

Commercial Infrared to L-3

Ground EO/FPA to DRS

Flight Options toHIG Capital

Raytheon Aircraft to Onex/GS Capital

Houston Associates

BBN Technologies

Trusted Computer Solutions

Technology Associates

Compucat Research

Flight Training to L3

Raytheon

Raytheon$17B

Information Technology& Applications

Aerospace & Defense to Boeing

RockwellCollins

Teldix

IP Unwired

Anzus

Evans & Sutherland simulation

NLX

Airshow

CommunicationSolutions

Kaiser Fluid Technologies to Tactair Fluid Controls

Rockwell Scientificto Teledyne

Kaiser Aerospace & Electronics

Sony Trans Com

Intertrade

Flight Dynamics

Hughes-Avicom

RockwellAutomation

United Technologies Microelectronics Center

Blue Ridge Simulation

SEOS

Athena Technologies

Air Routing International

DataPath

RockwellInternational

Rockwell Collins$9B

Seaworthy Systems

Gear Systemsto Triumph

Vickers DefenceSystems to Alvis

Vickers TurbineComponentsto RBS Group

Bristol Aerospace toMegellan Aerospace

SAIC Data Systems& Solutions stake

VT Controls

INTERING

BMW Rolls-Royce stake

Vickers

LucasVarity Geared Systems

Allison Engine

FAvS NationalAirmotive

Rolls-Royce

Europea MicrofusioniAerospaziali

Rolls-Royce$16B

Gespac Integration

Boeing Corinth facility

Snecma SabenaEngine Service stake

Teuchos

Sopartech

e-Software

Leica Vectronix

Morpho Systemes

ARNAV Systems

Sagem

Robonic

EADS Les Ulis naval and ground

Interstar Technologies

Snecma

SMA stake

Optics 1

Messier-Bugatti-Tracer

Harvard CustomManufacturing

Motorola biometrics business

Techspace Aero military MRO to United Technologies

Sagem Securite Electronic Payment Business to Ingenico

Cinch Connectorsto Bel Fuse

SnecmaSagem

Safran$16B

Racal Instruments toThomas Weisel/JF Lehman

AeronauticalServices to SAS

Antennas to Cobham

Avimo Group

Experlan Global Control

Arisem

ADI Limited

Alcatel transport & security assets

Racal Electronics

Sextant Avionique

Hughes Rediffusion Simulation

ADI

Acoustics toJF Lehman

High Tech Optics to Candover Investments

Thales Navigation toShah Capital Partners

Shorts Missile Systems

Alcatel MilitaryCommunications

Magellan

Altech African Defense Systems

Wormald Technology

Deutsche System

Thorn-EMI

MLR Electronique

AlliedSignal Aerospatiale Canada

Telematics to Cybit Holdings

Optronics beryllium mirrors to GSI Group

Thales Computersto Kontron

Thales Alenia Space Antwerp to

OHB Technology

SVS

TDA Armament

Barco Maritime Safety & Surveillance

nCipher

Texen to Barco N.V.

Thomson-CSF

Thales$8B

DF Group

Raytheon Sono-bouyproduct line

Flightline Electronics

Power Magnetics & Electronics Systems

EMSDevelopment

Corp

Videcom

Winfrith SafetySystems

Polyflex Aerospace

Radamec DefenceSystems

CMC Electronics Military Communications

MeasurementSystems

Devtek AppliedElectronics Ltd

DNE Systems

Helitune

Ultra

AudiopackTechnologies

Horizon Aerospace

Telemus

Avalon Systems

Tisys

Descam Consulting

Magneto-InductiveSystems

CritiCom

SiemensRadmon

Transmag PowerSystems

Extec Integrated Systems

Scytale Xerion

Weed Instrument Company

Harris AcousticProducts

ProLogicAudioSoft

Atkins & Partners

Graytronics

BCF Designs

Advanced Programming Concepts

Sparton of Canada

Ocean Systems from BAE Systems

SML Technologies

Ultra Electronics$2B

Airport Systems

Dowty ElectronicSystems

Solid rocketsto Aerojet

WFEL to DunedinCapital Partners

Photonics to Uniphase

Altair AvionicsOrbital Sensor Systems

Magnaghi Hydraulics

Cade Industries

Dallas Aerospace

Braathens Engine Maintenance

Caribe Aviation

Space Power

Turbotech RepairsClaverhamGroup

Derco

Great Lakes Turbine

IMI Marston Aerospace

Helicopter Support

Ratier-Figeac

Howmet Airfoil Refurbishment

Sundstrand

Interturbine Flight RepairP&W Klimov

H+S Aviation Overhaul

NordamPropulsion Systems

Dynamic Controls

Koor Carmel Forge

Helitech AerospaceServices

Schweizer Aircraft

Keystone Ranger Holdings

Page Group

Initial Sécurité

Rentokil InitialElectronic Security

SFS Fire ServicesPrecision Engine Controls

PZL-Mielec Aircraft

Invensys Firex Safety

CTA

BAE Systemsfin actuation

BoeingRocketdyne

Lenel Systems

Keystone Flight Services to Seacor

ARDE

Lifeport

GST

Detection Logic Fire Protection

Techspace Aero military MRO REVIMA

Chubb

Rzeszow

Chubb New Zealand to ISS Facilities Services

MSS SecurityGroup to SIS India

Microtecnica to Stirling Square Capital

Adaptive Opticsto Metrologic

UnitedTechnologies

GE Security

United Technologies$81B

Microelectronics Centerto Rockwell Collins