BUYER POOL ANALYSIS
Selling a Aerospace to Strategic / Industry buyers
Industry operators, larger competitors, and corporate buyers acquiring for synergies, geographic expansion, or capability fill. Typically pays a premium for clear strategic fit but discounts for integration cost and overlap.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 14.48x across 10 disclosed deals (P25: 13.03x, P75: 17.19x). Median EV/Revenue 1.38x across 32 deals. Median deal value: $56M.
- How many disclosed transactions?
- 35 deals total (35 from 2018+), filtered to Strategic / Industry acquirers of aerospace businesses.
- Most active buyers
- Lockheed Martin Corporation (2) · TransDigm Group Incorporated (2) · Keen Labs, Inc. (1) · Chorus Aviation Inc. (1) · BWX Technologies, Inc. (1) · BCS Allegient (1)
Recent disclosed deals
Strategic / Industry acquisitions of aerospace businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2026 | Harry Kahn Associates, Inc. | Keen Labs, Inc. | $0.1M | — | 0.04x |
| 2026 | Kadex Aero Supply Ltd. | Chorus Aviation Inc. | $35.8M | — | 0.83x |
| 2024 | Aerojet International, Inc. | BWX Technologies, Inc. | $103.3M | — | 2.58x |
| 2024 | Allegient Defense, Inc. | BCS Allegient | $12.5M | — | 0.70x |
| 2024 | Ricardo Defense Systems, LLC | Gladstone Management Corporation | $85.0M | — | 0.55x |
| 2024 | Terran Orbital Corporation | Lockheed Martin Corporation | $241.0M | — | 1.84x |
What this buyer pool prices for
Strategic buyers — operators in adjacent geographies, larger competitors, or corporate consolidators — price for synergies and capability fill. They tend to discount integration cost and overlap risk but pay above market when there's clear strategic fit (key customer relationship, license, geography, technician/professional team). Multiples are competitive with PE for fee-viable deals; below PE for sub-scale acquisitions.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to aerospace businesses acquired by strategic / industry buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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