General Dynamics Mergers and Acquisitions Summary

Defense Company

General Dynamics has acquired 32 companies, including 1 in the last 5 years. A total of 9 acquisitions came from private equity firms. It has also divested 6 assets.

General Dynamics’ largest acquisition to date was in 2018, when it acquired CSRA for $12.4B. It’s largest disclosed sale occurred in 1992, when it sold Cessna Aircraft to Textron for $600M. General Dynamics has acquired in 16 different US states, and 4 countries. The Company’s most targeted sectors include information technology (27%) and defense (17%).

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M&A Summary

  • M&A Total Activity36
    • M&A Buy Activity30
    • M&A Sell Activity6
  • Total Sectors Invested 11
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 16
  • M&A Advisors 2

General Dynamics Corp.

2941 Fairview Park Drive,Suite 100,
Falls Church, Virginia 22042
United States,
(703) 876-3000
www.gd.com

General Dynamics Corp. is an aerospace and defense company. It manufacturers business jets as well as provides combat systems to the US military. General Dynamics was founded in 1952 and is based in Falls Church, Virginia.


M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.2/yr) # 29 - - 1 - - 30
vol $15.6B $12.4B $28.0B
Sell (0.0/yr) # 6 - - - - - 6
vol $621M $621M
  36

Most Recent M&A

Company Date Value Type
CSRA, Inc. 2018-02-12 12.4B USD Add-on Acquisition
Falls Church, Virginia · www.csra.com
Fidelis Cybersecurity, Inc. 2015-04-14 - Divestiture
Bethesda, Maryland · www.fidelissecurity.com
AxleTech International Holdings, Inc. 2015-01-06 - Divestiture
Oshkosh, Wisconsin · www.axletech.com
Applied Physical Sciences Corp. 2012-12-21 - Add-on Acquisition
Groton, Connecticut · www.aphysci.com
Open Kernel Labs, Inc. (OK Labs) 2012-09-10 - Add-on Acquisition
Chicago, Illinois · www.ok-labs.com
Fidelis Cybersecurity, Inc. 2012-08-20 - Add-on Acquisition
Bethesda, Maryland · www.fidelissecurity.com
IPWireless, Inc. 2012-05-08 - Add-on Acquisition
San Francisco, California · www.ipwireless.com
Force Protection Industries, Inc. 2011-11-07 360M USD Add-on Acquisition
Summerville, South Carolina
Vangent, Inc. 2011-09-30 960M USD Add-on Acquisition
Arlington, Virginia · www.vangent.com
Metro Machine Corp. 2011-09-21 - Add-on Acquisition
Norfolk, Virginia · www.memach.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Gulfstream Aerospace Corp. 1999-05-17 Triumph Group, Inc. - G650/700 Assets 2020-08-04 1
Savannah, Georgia · www.gulfstream.com Tulsa, Oklahoma
General Dynamics European Land Systems    - FWW Fahrzeugwerk GmbH 2018-11-30 1
Madrid, Spain · www.gdels.com Helpt, Germany · www.fww-gmbh.de
General Dynamics Information Technology, Inc.    - General Dynamics Information Technology, Inc. - Federal Citizen Engagement Centers 2018-10-09 1
Fairfax, Virginia · www.gdit.com Fairfax, Virginia
Jet Aviation,Inc. 2008-08-19 Hawker Pacific Air 2018-04-12 2
Zurich, Switzerland · www.jetaviation.com , Australia · www.hawkerpacific.com
Jet Aviation,Inc. 2008-08-19 Avjet Corp, - Aircraft Management and Charter Services 2016-03-09 1
Zurich, Switzerland · www.jetaviation.com , United States
General Dynamics Advanced Information Systems, Inc.    - General Dynamics - Advanced Systems Business 2014-10-03 1
Fairfax, Virginia · www.gd-ais.com , Michigan
National Steel and Shipbuilding Co.    - Earl Industries LLC 2012-07-31 1
San Diego, California · www.nassco.com Portsmouth, Virginia · www.earl-ind.com
General Dynamics United Kingdom Ltd.    - Kylmar (KMC) Ltd. 2010-06-22 1
Blackwood, United Kingdom · www.generaldynamics.uk.com Hampshire, United Kingdom · www.kylmar.co.uk
General Dynamics Advanced Information Systems, Inc.    - Axsys Technologies, Inc. 2009-06-04 1
Fairfax, Virginia · www.gd-ais.com Rocky Hill, Connecticut · www.axsys.com
General Dynamics Information Technology, Inc.    - VIPS, Inc. 2008-07-22 1
Fairfax, Virginia · www.gdit.com Baltimore, Maryland · www.vips.com

M&A by Sector

Sector Buy # Value Sell # Value
Information Technology 8 (27%) 17.2B (61%) 1 (17%) -
Aerospace 3 (10%) 8.2B (29%) 3 (50%) 600M (97%)
Defense 5 (17%) 1.4B (5%) - -
Software 3 (10%) - - -
Technology Hardware 3 (10%) - - -
Automotive 2 (7%) 360M (1%) 1 (17%) -
Communications 2 (7%) - - -
Business Services 1 (3%) 960M (3%) 1 (17%) 21M (3%)
Engineering 1 (3%) - - -
Manufacturing 1 (3%) - - -
Marine 1 (3%) - - -
Total 30 $28.0B 6 $621M

By Geo

State/Country Buy Value Sell Value
United States 26 24.5B 6 621M
  Virginia 8 17.1B - -
  Maryland 2 - 2 -
  California 2 - - -
  Arizona 2 1.1B - -
  Wisconsin 1 - 1 -
  Kansas 1 700M 1 600M
  Washington 1 - - -
  South Carolina 1 360M - -
  Pennsylvania 1 - - -
  North Carolina 1 - - -
  Massachusetts 1 - - -
  Maine 1 - - -
  Illinois 1 - - -
  Georgia 1 5.3B - -
  Florida 1 - - -
  Connecticut 1 - - -
  New York - - 1 -
Canada 2 1.4B - -
  Quebec 1 275M - -
  Ontario 1 1.1B - -
Australia 1 - - -
Switzerland 1 2.2B - -
Domestic 26 (87%) 24.5B (87%) 6 (100%) 621M (100%)
Cross-border 4 (13%) 3.6B (13%) - -
Total 30 $28.0B 6 $621M

Top M&A Advisors

Financial Deals
Stone Key Partners LLC
1
Legal Deals
Jenner & Block LLP
1

Deal Values

buy # Total
> $1B 7 $25.7B
$100M to $1B 4 $2.3B
TOTAL $28.0B
Largest CSRA, Inc.
$12.4B (2018-02-12)
sell # Total
$100M to $1B 1 $600M
< $100M 1 $21M
TOTAL $621M
Largest Cessna Aircraft Co.
$600M (1992-03-02)

M&A Connections

Deals %
Acquired from
PE Firm(s)
75%
9 75%
Strategic(s)
25%
3 25%
Divested to
PE Firm(s)
40%
2 40%
Strategic(s)
60%
3 60%

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