Transaction Spotlight

screen_shot_2018-08-07_at_4.00.47_pm_0.pngLeading independent provider of OEM alternative parts and repair solutions to the commercial aerospace industry

 

 

 

 

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Leading provider of value-added aftermarket services to the turbine general aviation, defense and commercial fixed and rotary wing markets

What We’re Reading

Spotlight On Services At Farnborough 2018 

“The Farnborough and Paris air shows are normally viewed through the prism of new aircraft orders or launches, but 2018 will also go down as the year Airbus and Boeing began concerted marketing for the aftermarket businesses.”

MRO Network

JSSI: Bizav Utilization Rates Taking Off

“Average quarterly flight utilization for business aircraft has exceeded the 30-hour mark for the first time in a decade, according to the latest business aviation index from aircraft maintenance plan provider JSSI. During the second quarter, average per-aircraft utilization reached 30.35 hours; year-to-date average flight hours are up 4.6 percent.”

Aviation International News

Robotics Market Sees Lift As DOD Shifts To Longer-Term Programs

“The Army rushed unmanned ground vehicles into use during the height of the wars in Afghanistan and Iraq and then dramatically slowed down its buys of the robots as forces drew down. Some underlying data shows a recent bottoming out of this piece of the unmanned platform market before a rebound.”

Washington Technology

Pentagon's $10 billion JEDI Cloud Buy Hits The Street

“The Defense Department has released the long-awaited final proposal for its $10 billion warfighter cloud acquisition, Joint Enterprise Defense Infrastructure program. Despite objections from industry, the Pentagon is sticking to the single award plan for the contract.”

FCW

Perspective On Public Marketsa,b,1

Stock Price Performance – Last Twelve Months

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Most Significant Stock Price Movement – June 30th To July 31st

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Recent M&A Transactions2

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a. Current stock prices in USD as of 7/31/18

b. Aircraft OEMs: BA, BBD.B, EADS, ERJ

Aerospace Supply Chain & Aftermarket Support: AIR, ARNC, ATRO, B, BBA, DCO, ESL, GKN, HEI, HRX, HXL, KAMN, MAL, MGGT, MOG.A, ROLL, SAF, SNR, SPR, TDG, TGI, WAIR, WWD

Diversified Industrial: AME, CR, CW, ETN, GE, HON, PH, RR, TXT, UTX

Defense Prime Contractors: BA, BAE, EADS, GD, HO, HII, LMT, NOC, RTN

Defense Technologies: AVAV, CHG, CMTL, COB, CUB, ESLT, FLIR, HRS, KTOS, LLL, MRCY, TDY, ULE

Government Services: BAH, CACI, EGL, KEYW, LDOS, MANT, SAIC, VEC

Diversified Services: ACM, BAB, FLR, GIB, ICFI, JEC, KBR, SR

 

1. FactSet

2. Mergermarket

The information and views contained in this report were prepared by Harris Williams LLC (“Harris Williams”). It is not a research report, as such term is defined by applicable law and regulations, and is provided for informational purposes only. It is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any securities or financial instruments or to participate in any particular trading strategy. The information contained herein is believed by Harris Williams to be reliable but Harris Williams makes no representation as to the accuracy or completeness of such information. Harris Williams and/or its affiliates may be market makers or specialists in, act as advisers or lenders to, have positions in and effect transactions in securities of companies mentioned herein and also may provide, may have provided, or may seek to provide investment banking services for those companies. In addition, Harris Williams and/or its affiliates or their respective officers, directors and employees may hold long or short positions in the securities, options thereon or other related financial products of companies discussed herein. Opinions, estimates and projections in this report constitute Harris Williams’ judgment and are subject to change without notice. The securities and financial instruments discussed in this report may not be suitable for all investors and investors must make their own investment decisions using their own independent advisors as they believe necessary and based upon their specific financial situations and investment objectives. Also, past performance is not necessarily indicative of future results. No part of this material may be copied or duplicated in any form or by any means, or redistributed, without Harris Williams’ prior written consent.​