M&A Deal Summary

Boeing Acquires Aurora Flight Sciences

On October 5, 2017, Boeing acquired aerospace company Aurora Flight Sciences from Enlightenment Capital

Acquisition Highlights
  • This is Boeing’s 7th transaction in the Aerospace sector.
  • This is Boeing’s 24th transaction in the United States.
  • This is Boeing’s 1st transaction in Vermont.

M&A Deal Summary
Date 2017-10-05
Target Aurora Flight Sciences
Sector Aerospace
Buyer(s) Boeing
Sellers(s) Enlightenment Capital
Deal Type Add-on Acquisition
Advisor(s) Credit Suisse Investment Banking (Financial)
Steptoe & Johnson (Legal)

Target

Aurora Flight Sciences

Manassas, Vermont, United States
Aurora Flight Sciences is an innovative technology company which strives to create smarter aircraft through the development of versatile and intuitive autonomous systems. Operating at the intersection of technology and robotic aviation, Aurora leverages the power of autonomy to make manned and unmanned flight safer and more efficient. Headquartered in Manassas, Virginia, Aurora operates production plants in Bridgeport, West Virginia and Columbus, Mississippi, has Research and Development Centers in Cambridge, Massachusetts, Dayton, Ohio and Mountain View, California, and a European office, Aurora Swiss Aerospace, located in Luzern, Switzerland.

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Buyer(S) 1

Buyer

Boeing

Arlington, Virginia, United States
Category Company
Founded 1916
Sector Aerospace
Employees156,000
Revenue 77.8B USD (2023)
DESCRIPTION
Boeing's corporate headquarters in downtown Chicago, Illinois.
Boeing's corporate headquarters in downtown Chicago, Illinois.

Boeing is a global aerospace company that operates in five principal segments. These segments include Commercial Airplanes; Boeing Defense, Space & Security (BDS) which comprises of Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S); and Boeing Capital Corporation (BCC). The Company's other business includes the activities of Engineering, Operations & Technology (EO&T) and Shared Services Group (SSG). EO&T provides Boeing with technical and functional capabilities, including information technology, research and development, test and evaluation, technology strategy development, environmental remediation management and intellectual property management. Boeing was founded in 1916 and is based in Arlington, Virginia.

DEAL STATS #
Overall 27 of 34
Sector (Aerospace) 7 of 10
Type (Add-on Acquisition) 22 of 27
State (Vermont) 1 of 1
Country (United States) 24 of 29
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-06 Liquid Robotics

Sunnyvale, California, United States

Liquid Robotics, Inc. is a provider of autonomous maritime systems and developer of the Wave Glider ocean surface robot. Liquid Robotics persistent and versatile platforms utilized across the globe for ocean data observation, monitoring and surveillance break the economic and risk barriers to ocean data collection.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 KLX

Wellington, Florida, United States

KLX, Inc. is a distributor and value added service provider of aerospace fasteners and consumables, and a provider of services and products for the oil and gas industry. KLX, Inc. is based in Wellington, Florida.

Buy $4.3B

Seller(S) 1

SELLER

Enlightenment Capital

Chevy Chase, Maryland, United States
Category Private Equity Firm
Founded 2012
Size Middle-Market
Type Sector Focused
DESCRIPTION

Enlightenment Capital is a private investment firm that provides flexible capital solutions and strategic support to middle-market businesses in the Aerospace, Defense, Government & Technology (ADG&T) sector. The firm invests in equity (minority and control), senior debt, and mezzanine debt. Enlightenment Capital was founded in 2012 and is headquartered in Chevy Chase, Maryland.

DEAL STATS #
Overall 6 of 17
Sector (Aerospace) 2 of 2
Type (Add-on Acquisition) 4 of 12
State (Vermont) 2 of 2
Country (United States) 6 of 17
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-27 CyberCore Technologies

Elkridge, Maryland, United States

CyberCore Technologies is a provider of information technology services to a variety of federal government agencies with a focus on intelligence and security. CyberCore Technologies was founded in 2000 and is based in Elkridge, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-21 Raymond Express International

San Francisco, California, United States

Raymond Express International, Inc. is a provider of transportation solutions for temperature-sensitive products. Raymond Express International was founded in 1983 and is based in San Francisco, California.

Sell -
Mergr

Product

Company

Legal