CW Q1 2021 Aerospace & Defense M&A and Financing Report

This report is prepared as a courtesy to the Aerospace & Defense business community by Columbia West based on our research and information collected by our firm. Despite our dedicated efforts, occasionally a deal might be missed or appropriate credit not given to legal or financial advisors. Please feel free to contact us if you have information on a transaction that you want to ensure is included and credit attributed to appropriate advisors.

M&A - Strategic

1/1/2021 Muncie Aviation Company acquired Des Moines Flying Service Inc. The terms of the transaction were not disclosed. Des Moines Flying Service wholesales transportation equipment and supplies and is based in Des Moines, IA. Muncie Aviation provides aviation services, such as aircraft sales, maintenance, and fuel, and is based in Muncie, IN.

1/5/2021 LinQuest Corporation acquired TMC Design Corporation. The terms of the transaction were not disclosed. TMC operates as an engineering, development, and integration company that provides electronic warfare and tactical space superiority solutions to the U.S. Government and is based in Las Cruces, NM. LinQuest provides technical solutions to the U.S. government and commercial industry and is based in Los Angeles, CA.

1/5/2021 Owl Cyber Defense Solutions, LLC acquired the Trident Assured Collaboration Systems (ACS) product line of Trident Systems Incorporated. The terms of the transaction were not disclosed. ACS comprises the Voice over IP and Video Teleconference Cross Domain Solution as well as the Full Motion Video filtering capability technology business. Trident develops and provides technology solutions for military and intelligence communities and commercial and international customers and is based in Fairfax, VA. Owl Cyber Defense develops data agnostic, scalable, and secure one-way communication products in the U.S. and is based in Danbury, CT.

1/5/2021 Esina Holding Corporation acquired U.S. Industrial Tool & Supply Company/Arvan, Inc. The terms of the transaction were not disclosed. U.S. Industrial supplies aircraft tools worldwide and is based in Gardena, CA, and Arvan fabricates mechanical and electrical components and assemblies for aircraft, electronic, microwave, and electrical power industries. Esina, through its subsidiaries, manufactures, designs, and distributes molded components, tools, spare parts, and finished assemblies for aerospace, automotive, and consumer markets and is based in Gardena, CA.

1/11/2021 Elliott Aviation, Inc. acquired The Maintenance Group, Inc. The terms of the transaction were not disclosed. The Maintenance Group provides maintenance, avionics upgrades, heavy structural repairs, and custom interior design needs and is based in Atlanta, GA. Elliott Aviation engages in aircraft sales and aviation services and solutions and is based in Milan, IL.

1/12/2021 Loar Group, Inc. acquired Safe Flight Instrument Corporation. The terms of the transaction were not disclosed. Safe Flight manufactures aviation safety and flight performance systems and is based in White Plains, NY. Loar, through its subsidiaries, designs, manufactures, and markets aerospace components for the aerospace market in the U.S. and internationally and is based in New York, NY.

1/15/2021 Gama Aviation Plc (AIM:GMAA) acquired Jet East Corporate Aviation, LLC for $11.9 million. Jet East provides business aviation aircraft maintenance services and is based in Trenton, NJ. Gama Aviation provides business aviation services and is based in Farnborough, the United Kingdom.

1/19/2021 RedWire, LLC acquired Oakman Aerospace, Inc. The terms of the transaction were not disclosed. Oakman designs and manufactures open architecture space systems and spacecrafts in the U.S. and is based in Littleton, CO. RedWire engages in the designing, developing, and manufacturing of spacecraft architecture and components and is based in Fulton, MD. Fortis Law Partners LLC served as legal advisor to Oakman. Kirkland & Ellis LLP served as legal advisor to RedWire.

1/25/2021 BlackHorse Solutions, Inc. acquired Emerett LLC. The terms of the transaction were not disclosed. Emerett operates as a defense engineering solutions and technical consulting company that provides technology solutions within each phase of the tasking, collection, processing, exploitation, and dissemination cycle for intelligence and Department of Defense customers and is based in Castle Rock, CO. BlackHorse provides cyber solutions to the national security and critical business community and is based in Herndon, VA. DLA Piper LLP served as legal advisor to Emerett.

1/28/2021 AeroMed Group, LLC acquired ETA Global, Inc. The terms of the transaction were not disclosed. ETA offers supply chain solutions to the aerospace and defense industries and is based in Charlotte, NC. AeroMed through its subsidiaries, provides supply chain solutions to the aerospace and defense industries and is based in Charlotte, NC.

1/28/2021 Aero-Mach Labs, Inc. acquired 313Aerospace. The terms of the transaction were not disclosed. 313Aerospace is a military relay and solenoid/actuator manufacturer for aerospace and ground power applications and is based in Bradenton, FL. Aero-Mach designs, manufactures, assembles, and sells aircraft instruments and is based in Wichita, KS.

2/1/2021 General Atomics Electromagnetic Systems Inc. acquired Tiger Innovations, Inc. The terms of the transaction were not disclosed. Tiger Innovations develops satellite systems and support components and is based in Arlington, VA. General Atomics designs, builds, develops, and manufactures spacecraft and defense systems and is based in San Diego, CA.

2/9/2021 Karman Missile & Space Systems acquired AAE Aerospace. The terms of the transaction were not disclosed. AAE is a manufacturer of high temperature composites for the missile, interceptor, and space sectors and is based in Huntington Beach, CA. Karman, a portfolio company of Trive Capital, supplies metallic and composite flight hardware and sub-assemblies for the space, missile, and hypersonic markets and is based in Brea, CA. Trive is a private equity firm based in Dallas, TX.

2/11/2021 CZG - Ceská zbrojovka Group SE (SEP:CZG) agreed to acquire Colt Defense LLC for $256.2 million. The transaction closed on 5/25/2021. Colt Defense researches, develops, manufactures, and sells firearms for military, personal defense, and recreational purposes in the U.S. and internationally and is based in West Hartford, CT. CZG, together with its subsidiaries, engages in the production, purchase, and sale of firearms and tactical accessories in Czech Republic, the U.S., Europe, Africa, Asia, and internationally and is based in Prague, Czech Republic.

2/16/2021 Serco Group plc (LSE:SRP) agreed to acquire Whitney, Bradley and Brown, Inc. (WBB) for $295.0 million. WBB offers financial and management consulting services to federal government clients in the U.S. and is based in Reston, VA. Serco specializes in the delivery of essential public services in the defense, transport, justice, immigration, healthcare and other citizen services sectors in the UK & Europe, North America, Asia Pacific and Middle East and is based in Hook, United Kingdom. Paul Hastings LLP is serving as legal advisor to WBB.

2/16/2021 Good Sportsman Marketing, LLC acquired TRUGLO, Inc. The terms of the transaction were not disclosed. TRUGLO provides fiber optic sights and is based in Richardson, TX. Good Sportsman is an outdoor consumer goods company based in Irving, TX.

2/16/2021 Essex Industries, Inc. acquired Stevens Manufacturing Company, Inc. The terms of the transaction were not disclosed. Stevens manufactures products and parts for the aerospace industry and is based in Milford, CT. Essex designs, develops, manufactures, and markets life support equipment, ground support equipment, platform controls, and aircraft components and is based in St. Louis, MO.

2/17/2021 RedWire, LLC acquired Deployable Space Systems, Inc. The terms of the transaction were not disclosed. Deployable Space Systems engages in the research, design, development, analysis, manufacturing, and testing of mission-enabling deployable space systems and is based in Goleta, CA. RedWire engages in the designing, developing, and manufacturing of spacecraft architecture and components and is based in Fulton, MD. Fell, Marking, Abkin, Montgomery, Granet & Raney LLP served as legal advisor to Deployable Space Systems. Kirkland & Ellis LLP served as legal advisor to RedWire.

2/18/2021 Surf Air Mobility Corporation agreed to acquire Ampaire Inc. The terms of the transaction were not disclosed. Ampaire designs and develops electric powered commercial aircraft and is based in Hawthorne, CA. Surf Air is engaged in providing private aviation services and is based in Los Angeles, CA.

2/19/2021 AeroVironment, Inc. (NasdaqGS:AVAV) acquired Arcturus UAV, Inc. for $409.9 million. Arcturus designs and manufactures unmanned aircraft systems that offer capabilities such as high resolution full motion video, communications relay, and advanced ISR payloads and is based in Petaluma, CA. AeroVironment designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses and is based in Simi Valley, CA. Hogan Lovells served as legal advisor to Arcturus. K&L Gates LLP served as legal advisor to AeroVironment.

2/23/2021 Skyborne Aviation Limited agreed to acquire Vero Beach Flight Training Academy, Inc. The terms of the transaction were not disclosed. Vero Beach Flight Training offers pilot training services and is based in Vero Beach, FL. Skyborne offers education services and is based in Cheltenham, United Kingdom.

2/23/2021 Frequentis AG (XTRA:FQT) agreed to acquire the ATM voice communications and arrival management product business from L3Harris Technologies, Inc. (NYSE:LHX) for $20.1 million. L3Harris provides mission-critical solutions for government and commercial customers worldwide and is based in Melbourne, FL. Frequentis operates in the Air Traffic Management and Public Safety & Transport segments providing communication and information systems and solutions worldwide and is based in Vienna, Austria.

2/24/2021 IDS International Government Services LLC acquired DECO, Inc. and GovSource. The terms of the transactions were not disclosed. DECO is a global training and specialized technical services company and GovSource provides law enforcement and military training services and is based in Reston, VA. IDS provides military training, security solutions, and specialized technical services to government clients and is based in Arlington, VA.

3/1/2021 VSE Corporation (NasdaqGS:VSEC) acquired HAECO Special Services, LLC. The terms of the transaction were not disclosed. HAECO offers fully integrated MRO support solutions for military and government aircraft and is based in Raleigh, NC. VSE operates as a diversified products and services aftermarket company in the U.S. and is based in Alexandria, VA. Covington & Burling LLP served as legal advisor to HAECO. Jones Day served as legal advisor to VSE.

3/1/2021 Renk Aktiengesellschaft (DB:ZAR) agreed to acquire Combat Propulsion Systems (CPS) and Magnet-Motor GmbH (MM) businesses from defense contractor L3Harris Technologies Inc. (NYSE:LHX) for $400.0 million. CPS manufactures engines and transmissions for tracked and wheeled military vehicles in the U.S. and globally and is based in Muskegon, MI. MM develops and designs high-performance electric power supplies and hybrid drive systems for military applications and is located in Starnberg, Germany. Renk develops, produces, and distributes drive technology products worldwide and is based in Augsburg, Germany. Simpson Thacher & Bartlett LLP is serving as legal advisor to L3Harris and CPS. Alston & Bird LLP and ARQIS Rechtsanwälte is serving as legal advisor to Renk. Sullivan & Cromwell LLP is serving as legal advisor to L3Harris.

3/1/2021 CAE USA, Inc. agreed to acquire L-3 Link Simulation & Training, AMI Instruments and L3 Doss Aviation, Inc. from L3Harris Technologies, Inc. (NYSE:LHX) for $1.1 billion. L-3 Link supplies simulation systems, training services, and aircraft contractor logistics support for the U.S. and international military services. AMI produces and supplies integrated electromechanical assemblies for commercial and military prime contractors engaged in land, sea, air, and space operations and training. L3 Doss provides military pilot training with solutions that include premier facilities, modern training systems, and highly-structured programs. CAE develops and markets simulation products and is based in Tampa, FL. DLA Piper LLP (US) and Norton Rose Fulbright US LLP are serving as legal advisors to CAE. Sullivan & Cromwell LLP is serving as legal advisor to L3Harris.

3/5/2021 PCX Aerostructures, LLC agreed to acquire Senior Operations LLC, dba Senior Aerospace Connecticut, from Senior plc (LSE:SNR) for $74.0 million. Senior Aerospace Connecticut manufactures metallic parts for the aerospace industry, including helicopter rotor head, turbine engine, transmission, and gearbox components and is based in Enfield, CT. Senior plc designs, manufactures, and markets high-technology components and systems for the principal original equipment producers in the aerospace, defense, land vehicle, and power and energy markets worldwide and is based in Rickmansworth, United Kingdom. PCX manufactures airframe assemblies, including wing, fuselage, and engine components, and is based in Newington, CT. Buchanan Ingersoll & Rooney PC is serving as legal advisor to Senior.

3/8/2021 Quantic acquired Planar Monolithics Industries, Inc. The terms of the transaction were not disclosed. Planar designs, develops, manufactures and tests hybrid monolithic microwave integrated circuit components and subsystems and is based in Frederick, MD. Backed by San Francisco private equity firm Arcline Investment Management, Quantic is an electronic component company formed in January from the merger of Evans Capacitor Company of East Providence, RI; Ohmega Technologies of Culver City, CA; and TRM Microwave of Bedford, NH. Quantic also recently announced its purchase of Corry Micronics, a Warrendale, PA company that specializes in microwave components and subsystems.

3/8/2021 AirBoss Defense Group agreed to acquire Blackbox Biometrics, Inc. for $27.0 million. Blackbox develops systems that monitor, record, and analyze blast and impact events to protect warfighters, first responders, and athletes and is based in Rochester, NY. AirBoss manufactures protective equipment for the aerospace and defense industry and is based in Landover, MD.

3/8/2021 HDT Global, Inc. acquired the business assets of TerraGroup Corporation. The terms of the transaction were not disclosed. TerraGroup engages in the design, engineering, and manufacturing of water purification, storage, and distribution systems primarily for armed forces and is based in Allentown, PA. HDT engineers, designs, and manufactures shelters, generators, heaters, air filtration devices, robotics, and other engineered technologies for the U.S. and allied military units worldwide, as well as civilian government and commercial customers and is based in Solon, OH.

3/9/2021 Novaria Holdings, LLC acquired The Young Engineers, Inc. The terms of the transaction were not disclosed. Young Engineers designs and manufactures precision metallic and non-metallic components and specialty fastening products for the aerospace industry and is based in Lake Forest, CA. Novaria, through its subsidiaries, manufactures precision components and structural fasteners for the aerospace and defense industry and is based in North Richland Hills, TX.

3/22/2021 AMETEK, Inc. (NYSE:AME) agreed to acquire Abaco Systems Inc. for $1.4 billion. Abaco provides open architecture computing and electronic systems for aerospace, defense, and industrial applications and is based in Huntsville, VA. AMETEK manufactures and sells electronic instruments and electromechanical devices worldwide and is based in Berwyn, PA. Troutman Pepper Hamilton Sanders LLP is serving as legal advisor to AMETEK.

3/22/2021 Sage-Popovich, Inc. agreed to acquire Togs Aircraft, LLC. The terms of the transaction were not disclosed. Togs provides repair and maintenance services for turboprops, helicopters, corporate jets, and regional airline equipment and is based in Waterford, MI. Sage-Popovich provides aviation consultancy services and is based in Valparaiso, IN.

3/24/2021 Noble Sales Co., Inc., dba Noble Supply & Logistics, acquired Tactical & Survival Specialties, Inc., dba TSSi. The terms of the transaction were not disclosed. TSSi designs, creates, and sources tactical and specialized operational equipment for crisis, disaster, and special operations and is based in Harrisonburg, VA. Noble provides supply chain management, logistics, DoD mission support, and technology/e-commerce solutions to the U.S. military, federal, state, and local governments, as well as commercial clients, and is based in Boston, MA.

3/25/2021 RedWire, LLC and Genesis Park Acquisition Corp. (NYSE: GNPK), a publicly traded special purpose acquisition company, announced that they have entered into a definitive merger agreement that will result in RedWire becoming a publicly traded company on the NYSE. RedWire further announced its $100.0 million fully committed PIPE of common stock with participation from Senvest Management, LLC and Crescent Park Management, L.P. RedWire engages in the designing, developing, and manufacturing of spacecraft architecture and components and is based in Fulton, MD. Senvest is an employee-owned hedge fund sponsor based in New York City, NY. Crescent is an employee-owned hedge fund manager based in East Palo Alto, CA.

3/31/2021 Enjet Aero, LLC acquired Enginetics Corporation from Standex International Corporation (NYSE:SXI) for $11.5 million. Enginetics is a provider of complex metal formed components and fabricated assemblies for the global aerospace industry and is based in Huber Heights, OH. Enjet manufactures and supplies critical machined and fabricated parts to the engine sector of the aerospace and defense industries and is based in Overland Park, KS. Standex is a multi-industry manufacturer in the Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions segments and is based in Salem, NH.

M&A - Financial

2/8/2021 Evergreen Coast Capital Corp. and Veritas Capital Fund Management, L.L.C. agreed to acquire 95.26% stake in Cubic Corporation (NYSE:CUB) for $3.4 billion. Cubic designs, integrates, and operates systems, products, and services for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers worldwide and is based in San Diego, CA. Evergreen is a private equity firm based in Menlo Park, CA. Veritas is a private equity firm based in New York, NY. Sidley Austin LLP and Faegre Drinker Biddle & Reath LLP are serving as legal advisors to Cubic. Gibson, Dunn & Crutcher LLP is serving as legal advisor to Evergreen. Skadden, Arps, Slate, Meagher & Flom LLP and Covington & Burling LLP are serving as legal advisors to Veritas.

2/10/2021 Arlington Management Employees, LLC agreed to acquire Red Oak Texas Operations from Triumph Group, Inc. (NYSE:TGI). Red Oak Texas Operations comprises composites facilities that engage in the manufacturing of composite and metallic structures such as wing, empennage, and fuselage assemblies. Arlington Management is a private equity firm based in Washington, D.C.

3/4/2021 Battle Investment Group, LLC announced that it acquired stake in Dynamic N/C, LLC on 12/30/2020. The terms of the transaction were not disclosed. Dynamic manufactures complex hard-metal structural components and assemblies used in aircraft and space vehicles and is based in Rose Hill, KS. Battle Investment Group is a private equity firm based in Atlanta, GA.

Private Placements

1/4/2021 Innoflight Holdings, LLC announced that it has received a round of funding from an affiliate of new investor The Jordan Company, L.P. Innoflight develops and manufactures satellite avionics that help in establishing end-to-end connections for satellite-to-satellite and satellite-to-ground space networking and communication and is based in San Diego, CA. The Jordan Company is a private equity firm based in New York, NY. Blank Rome LLP served as legal advisor to Innoflight. Mayer Brown LLP served as legal advisor to the investor.

1/28/2021 AeroMed Group, LLC announced that it has received a round of funding from new investor Copley Equity Partners. AeroMed, through its subsidiaries, provides supply chain solutions to the aerospace and defense industries and is based in Charlotte, NC. Copley is a private equity firm based in Quincy, MA.

2/5/2021 Skyworks Aeronautics Corp. announced that it will receive $100.0 million in a round of funding from new investor GEM Global Yield LLC SCS. Skyworks designs and develops gyroplanes and is based in Chicago, IL. GEM is a private equity firm based in New York, NY.

2/10/2021 Archer Aviation Inc. announced that it has entered into a business combination agreement with Atlas Crest Investment Corp. (NYSE:ACIC). The newly combined company will be listed on the NYSE under the new ticker symbol “ACHR.” The agreement is expected to provide approximately $1.1 billion of gross proceeds to the combined company, assuming minimal redemptions, to fund expected future growth, including a fully committed $600.0 million common stock PIPE with participation from leading strategic and financial investors including United Airlines, Stellantis and the venture arm of Exor, Baron Capital Group, and other investors. Archer engages in designing, manufacturing, and operating an electric aircraft and is based in Los Altos Hills, CA. Stellantis engages in the design, engineering, manufacture, distribution, and sale of passenger vehicles, pickup trucks, SUVs, and light commercial vehicles worldwide and is based in Lijnden, the Netherlands. Baron is an investment management holding company based in New York, NY.

2/16/2021 Axiom Space, Inc. announced that it has received $130.0 million in a round of funding led by new investor C5 Capital Ltd. with participation from Declaration Partners LP, Starbridge Venture Capital, LLC, and other investors. Axiom develops a commercial space station and is based in Houston, TX. C5 is a private equity and venture capital firm based in London, United Kingdom. Declaration is a principal investment firm based in New York, NY. Starbridge is a venture capital firm based in Washington, D.C. Mayer Brown LLP served as legal advisor to C5.

2/16/2021 SpaceX, Inc. announced that it has received $850.0 million in funding from 69 investors. SpaceX designs, manufactures, and launches advanced rockets and spacecraft and is based in Hawthorne, CA.

2/19/2021 AeroVironment, Inc. (NasdaqGS:AVAV) announced that it has received $50.0 million in funding. AeroVironment designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses and is based in Simi Valley, CA.

2/23/2021 Joby Aviation, LLC announced that it has entered into a definitive business combination agreement with Reinvent Technology Partners (NYSE:RTP), a special purpose acquisition company, and upon closing the transaction, the combined company will become publicly traded on the NYSE. Joby also announced its private placement for gross proceeds of $835.0 million with participation from Uber Technologies, Inc. (NYSE:UBER), BlackRock, Inc. (NYSE:BLK), Baillie Gifford & Co., and other investors. Joby designs and develops electric vertical takeoff and landing (eVTOL) aircraft and is based in Santa Cruz, CA. Uber develops and operates proprietary technology applications and is based in San Francisco, CA. BlackRock is a publicly owned investment manager and is based in New York City, NY. Baillie Gifford is an employee-owned investment manager and is based in Edinburgh, Scotland.

2/25/2021 Stoke Space Technologies, Inc. announced that it has received $9.1 million in a round of funding co-led by new investor NFX Capital Management, LLC and MaC Ventures, Inc. with participation from Seven Seven Six, Y Combinator Management LLC, and other investors. Stoke offers propulsion solutions for reusable rocket upper stages and is based in Renton, WA. NFX is an accelerator and venture capital firm based in Palo Alto, CA. MaC is a seed-stage venture capital firm based in Los Angeles, CA. Seven Seven Six is a venture capital firm founded by Alex Ohanian. Y Combinator is an accelerator based in Mountain View, CA.

2/28/2021 Skydio, Inc. announced that it has received $171.0 in funding from Andreessen Horowitz LLC, UP.Partners, Next47 GmbH, Linse Capital LLC, Institutional Venture Partners and other investors. Skydio designs, assembles, manufactures, and supports drones used in public safety, inspection, and defense applications and is based in Redwood City, CA. Andreessen Horowitz is a venture capital firm based in Menlo Park, CA. UP.Partners is a venture capital firm based in Santa Monica, CA. Next47 GmbH is a venture capital arm of Siemens Aktiengesellschaft and is based in Palo Alto, CA. Linse Capital and Institutional Venture Partners are venture capital and private equity firms based in Menlo Park, CA.

3/1/2021 Red 6 Inc. announced that it has received $7.0 million in a round of funding from Red Cell Partners, LLC, Snowpoint Ventures, and other new and existing investors. Red 6 develops outdoor augmented reality solutions for air combat training and is based in Santa Monica, CA. Red Cell is an incubation and investment platform based in Washington, D.C. Snowpoint is a venture capital and private equity firm based in San Francisco, CA.

3/4/2021 Boom Technology, Inc., dba Boom Supersonic, announced that it has received a round of funding from American Express Ventures. Boom manufactures and supplies supersonic passenger aircraft and is based in Englewood, CO. American Express Ventures operates as an investment arm of American Express Company and is based in Palo Alto, CA.

3/4/2021 CAE Inc. (TSX:CAE) announced that it has received $555.7 million in funding from GIC Pte. Ltd. and Caisse de dépôt et placement du Québec (CDPQ). CAE, together with its subsidiaries, provides training solutions for the civil aviation, defense and security, and healthcare markets worldwide and is based in Saint-Laurent, Canada. GIC is a sovereign wealth fund of the Government of Singapore. CDPQ is a privately owned investment manager based in Québec City, Québec.

3/4/2021 Voyager Space Holdings, Inc. announced that it has raised $50.0 million in a round of funding from 49 investors. Voyager acquires and operates companies in the space exploration industry and is based in Denver, CO.

3/9/2021 Green Power Monitoring Systems, Inc., dba GPMS, announced that it has received its Series A round of funding from new lead investor DiamondStream Partners and several other industry insiders and investors. GPMS is an AI predictive maintenance company that develops health and usage monitoring systems for complex aircraft, vehicles and rotating equipment and is based in Cornwall, VT. DiamondStream is a private equity firm based in Seattle, WA.

3/11/2021 SkySpecs, Inc. announced that it has received $10.2 million in funding from 16 investors. SkySpecs develops unmanned aerial vehicles for automating operations and maintenance for the wind energy industry and is based in Ann Arbor, MI.

3/22/2021 Fortem Technologies, Inc. announced that it has received $15.0 million in a round of funding from new investor Toshiba Infrastructure Systems & Solutions Corporation. Fortem develops and manufactures intrusion detection and detect-and-avoid solutions that alert, identify, and classify drones and other unmanned aircraft vehicles and is based in Pleasant Grove, UT. Toshiba engages in development, manufacturing, and sales of social infrastructure business products, systems, and services and is based in Kawasaki, Japan.

3/25/2021 ABL Space Systems Company announced that it has received $170.1 million in funding with participation from T. Rowe Price Group, Inc. (NasdaqGS:TROW), Fidelity Management & Research Company LLC, and other investors. ABL designs and manufactures rockets to launch small satellites and is based in El Segundo, CA. T. Rowe Price is a publicly owned investment manager and is based in Baltimore, MD. Fidelity is a privately owned investment manager and is based in Boston, MS.

3/31/2021 ZeroAvia, Inc. announced that it has received $24.3 million in funding from Horizons Ventures, British Airways, and other investors. ZeroAvia manufactures zero-emission aircraft for commercial short-haul trips and is based in Hollister, CA. Horizons is a venture capital firm based in Central, Hong Kong.