Private equity has been active in defense of late as evidenced by Odyssey Investment Partners LLC acquiring CPI International LLC, a portfolio company of Veritas Capital Fund Management LLC, for a reported value of US$800 million. The acquisition enhances the growth strategies of CPI International. CPI International manufactures and designs satellite communications. Its defense applications include radar, electronic warfare and communications end markets.
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Industry Indicators
- US corporate profits, which affect airline traffic and demand for new commercial aircraft, rose 7.0% in the second quarter of 2017 compared to the same period in 2016.
- US durable goods manufacturers’ shipments of nondefense aircraft and parts, an indicator of demand for aerospace products and parts, fell 3.8% year-to-date in September 2017 compared to the same period in 2016.
- US durable goods manufacturers’ shipments of military aircraft and parts, an indicator of demand for aerospace products and parts for military use, rose 1.5% year-to-date in September 2017 compared to the same period in 2016.
Posted by Joe Contaldo.
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