In the second quarter of 2024, the defense and government market saw 79 mergers and acquisitions, marking a 6.7 percent uptick compared to the same period last year. The report, published by Raymond James’ defense and government investment banking team led by Sam Maness and Andy McEnroe, indicates that government services represented the largest segment of these M&A activities at 41 percent. Private equity firms dominated the buyers with 54 percent of transactions, while strategic acquirers accounted for 46 percent. Notable deals in this space included Bernhard Capital Partners acquiring Apogee Engineering, and Deloitte purchasing Gryphon Scientific. Additionally, significant government contracts were awarded, such as a potential $7 billion contract to Northrop Grumman by the U.S. Air Force and a $756 million contract to Lockheed Martin from the U.S. Army. Public companies like Booz Allen Hamilton and Boeing also had notable financial performances.

Defense, Government Services, Private Equity,United States