Harris Williams ADG Transaction Spotlight

screen_shot_2019-02-12_at_4.51.00_pm.png1/28/19: Harris Williams Advises Aeryon Labs Inc. on its sale to FLIR Systems

  • Harris Williams announces that it advised Aeryon Labs Inc., a portfolio company of Summit Partners, on its sale to FLIR Systems, Inc. for $200 million
  • Aeryon is a leading developer of unmanned aerial systems (UAS), imaging and delivery payloads and flight management software for military, public safety and critical infrastructure markets

View the full press release.

What We’re Reading

Opinion: MROs Beware Of A Retirement Tsunami On The Horizon

“One of the positive characteristics of the MRO sector is its perceived lack of cyclicality compared to aircraft production…Fast-forward to today, and the MRO sector is in a period of robust growth. Global air travel growth averaged 7% over the last two years, aircraft retirements are down, MRO spending is strong, and—in contrast to 2012—there are spot shortages of USM. Yet there is a storm cloud on the horizon that could drive the next MRO downturn.”

MRO Network

The Biggest Private Jet Stories for 2019 Predicted

“Private jets were already in the news this year when reports that as many as 1,500 would descend on the World Economic Forum in Davos drove a number of stories highlighting one of the agenda items was global warming. We asked a variety of leaders from business aviation what they believe will be the biggest headlines for the industry in 2019.”


The US Navy’s New, More Lethal Frigate is Coming into Focus

“The U.S. Navy is zeroing in on a cost and the shape of its new frigate as it prepares to launch an open competition this summer. Through the conceptual design phase, which kicked off last year, the Navy asked for feedback from the five competitors in the competition. The result was more than 300 suggestions for ways to evolve the design and save money, Naval Sea Systems Command’s FFG(X) program head, Regan Campbell, told an audience at the annual Surface Navy Association Symposium.”

Defense News

CFIUS in the Face of a Prolonged Government Shutdown: What It Means for Deals

“As has been widely reported, the U.S. federal government partially shut down at midnight on December 22, 2018. While the shutdown continues to impact numerous government agencies and related constituencies, a key shutdown for dealmakers has been the offices within the Department of Treasury (Treasury) that chair the Committee on Foreign Investment in the United States (CFIUS). With no clear end in sight, global companies, strategic investors and their outside counsel must carefully consider the ongoing impact of the shutdown on deals at all stages.”


Perspective on Public Marketsa,b,1

Stock Price Performance – Last Twelve Months



Recent M&A Transactions2




a.Current stock prices in USD as of 1/31/19

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

         Aerospace Supply Chain & Aftermarket Support: AIR, ARNC, ATRO, B, BBA, DCO, ESL, HEI, HRX, HXL, KAMN, MAL, MGGT, MOG.A, ROLL,

         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, SRP


1. FactSet

2. Mergermarket


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