M&A Deal Summary

General Dynamics Acquires Jet Aviation

On August 19, 2008, General Dynamics acquired aerospace company Jet Aviation from Permira for 2.2B USD

Acquisition Highlights
  • This is General Dynamics’ 3rd transaction in the Aerospace sector.
  • This is General Dynamics’ 4th largest (disclosed) transaction.
  • This is General Dynamics’ 1st transaction in Switzerland.

M&A Deal Summary

Date 2008-08-19
Target Jet Aviation
Sector Aerospace
Buyer(s) General Dynamics
Sellers(s) Permira
Deal Type Add-on Acquisition
Deal Value 2.2B USD
Advisor(s) Morgan Stanley (Financial)

Target

Jet Aviation

Zurich, Switzerland
Jet Aviation is a Swiss-based international business aviation services company. The company provides maintenance, completions and refurbishment, engineering and fixed base operations, along with aircraft management, charter services, aircraft sales and personnel services.

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Buyer(S) 1

Buyer

General Dynamics

Reston, Virginia, United States

Category Company
Founded 1899
Sector Defense
Employees100,000
Revenue 42.3B USD (2023)
DESCRIPTION
General Dynamics' Ordnance and Tactical Systems unit located in St. Petersburg, Florida.
General Dynamics' Ordnance and Tactical Systems unit located in St. Petersburg, Florida.

General Dynamics 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 Reston, Virginia.


DEAL STATS #
Overall 18 of 30
Sector (Aerospace) 3 of 3
Type (Add-on Acquisition) 15 of 27
Country (Switzerland) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 4 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-15 Mediaware International Pty

Canberra, Australia

Mediaware International Pty Ltd., a developer of real-time full-motion compressed digital video processing software and systems for defense, intelligence and commercial customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-04 AxleTech International Holdings

Oshkosh, Wisconsin, United States

AxleTech is a manufacturer and supplier of axles, axle components, planetary axles, brakes, and aftermarket parts for commercial specialty trucks, military vehicles, and off-highway machines used in construction, material handling, forestry, mining, and agricultural markets.

Buy -

Seller(S) 1

SELLER

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 34 of 89
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 10 of 30
Country (Switzerland) 1 of 1
Year (2008) 3 of 3
Size (of disclosed) 13 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-06 Debitel France SA

Chaville, France

Debitel France SA is a mobile service provider in Europe, offering a wide range of ecommunication products mobile and fixed-line telephony as well internet services.

Sell €1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-25 Just Group

Reigate, United Kingdom

Just Group is a specialist financial services company that provides innovative financial solutions designed to meet the needs of people at or in retirement. Just Group provides enhanced retirement annuities, a product which takes into account the specific health and lifestyle circumstances of a retired customer to offer significantly better rates than traditional annuity providers. Just Group was founded in 2004 and is based in Reigate, the United Kingdom.

Buy £225M