Los Angeles is one of the top aerospace and defense M&A markets in the US. This list covers 13 active advisors in 2026 - deal sizes, sector focus, and verified transactions across defense tech, space, and government services.
LA aerospace and defense M&A in 2026
A&D M&A hit an all-time high in 2025 with 532 transactions globally, aggregate deal value surging 60% to $42.7 billion. Q1 2026 announced deal value has already exceeded Q1 2025 by nearly 3x.
Los Angeles is central to this activity. Space systems, defense electronics, unmanned systems, and government IT are all active deal categories with strong buyer demand from PE and strategic acquirers.
Set up an Ellty data room before your first advisor conversation. Defense buyers check government contract documentation, security clearance records, and revenue concentration before sending an LOI.
Ellty's granular permissions let you control which buyers access classified-adjacent technical specs during the process - staged access by NDA tier protects your competitive position.
What separates LA aerospace advisors
LA is home to Northrop Grumman, Aerojet Rocketdyne, and dozens of Tier 2 and Tier 3 defense suppliers. Advisors with live relationships inside those corporate development teams get better buyer coverage than generalists.
Kroll's Steve Moon operates out of LA as Deputy Head of U.S. M&A Advisory and Co-Head of Global Aerospace Defense Government (ADG) M&A Advisory. Janes Capital Partners in Irvine is the only pure A&D boutique in Southern California focused exclusively on the sector.
Defense deals require clearance-aware diligence. Your advisor needs to understand ITAR/EAR export controls, government contract novation requirements, and how to run a process without triggering notification obligations.
| Deal Type | Deal Size | Sector Focus | Website | |
|---|---|---|---|---|
| Janes Capital Partners | Both | $10M-$500M | Aerospace, defense, space, government services, A&D supply chain | janescapital.com |
| Kroll (ADG Group) | Both | $25M-$1B+ | Aerospace, defense, space, government services, industrials | kroll.com |
| William Blair (A&D Group) | Both | $50M-$2B+ | Aerospace, defense, government IT, MRO, space, C5ISR | williamblair.com |
| Harris Williams (A&D Group) | Both | $50M-$2B+ | Defense tech, aerospace electronics, government services, MRO | harriswilliams.com |
| Capstone Partners (A&D) | Both | $10M-$300M | Aerospace, defense, government, security, space systems | capstonepartners.com |
| Imperial Capital | Both | $25M-$1B+ | Defense, aerospace, tech-enabled government services, software | imperialcapital.com |
| Houlihan Lokey (A&D) | Both | $100M-$5B+ | Defense, aerospace, government IT, mission-critical tech | hl.com |
| Raymond James (A&D) | Both | $25M-$1B+ | Defense, government services, aerospace components, MRO | raymondjames.com |
| Lincoln International (A&D) | Both | $50M-$1B+ | Defense tech, aerospace, government services, industrials | lincolninternational.com |
| Jefferies (A&D) | Both | $200M-$5B+ | Aerospace, defense primes, space, government IT | jefferies.com |
| Piper Sandler (A&D) | Both | $50M-$2B+ | Government IT, defense tech, mission-critical services | pipersandler.com |
| DC Advisory (A&D) | Both | $50M-$1B+ | Aerospace, defense, commercial aviation, MRO, space | dcadvisory.com |
| Solomon Partners (Industrials) | Both | $100M-$5B+ | Aerospace, defense, mission-critical industrials, government | solomonpartners.com |
How to verify an A&D advisor's track record
Ask for a closed deal list with company names, deal sizes, and buyer types from the last 24 months. A credible LA A&D advisor closes 5+ defense transactions per year with named buyers.
Check whether the advisor has sold to defense primes before. Selling to Northrop, Raytheon, or L3Harris is structurally different from selling to a PE platform. Advisors who've done both know what each buyer demands in diligence.
Ask specifically who on the deal team holds security clearances or has prior DOD or defense contracting experience. Clearance-aware advisors avoid process mistakes that derail deals at the last stage.
Use Ellty to share your government contract files through secure trackable links. You'll know which buyers access your classified-adjacent documents before any management presentations begin.
Read the Los Angeles M&A advisors overview to understand the full Southern California advisory market before focusing on A&D-specific firms.
Running an A&D M&A process in LA?
Organize your contracts and financials before defense buyers start diligence.
Start free 14-day trialWhat an M&A deal looks like: 6 stages
LA aerospace and defense sell-side processes run five to nine months. Government contract novation and CFIUS review can extend timelines significantly.
| Stage | What happens | What you need ready | |
|---|---|---|---|
| Stage 1 | Preparation | Valuation, advisor selection, CIM drafted | 3 years financials, contract backlog, clearance records |
| Stage 2 | Advisor engagement | Engagement letter signed, buyer list built | Engagement letter, NDA template, ITAR checklist |
| Stage 3 | Marketing | Teaser and CIM sent to strategic and PE buyers | Ellty data room with access staged by NDA tier |
| Stage 4 | LOI | Buyers submit bids, advisor shortlists top three | Updated financials, management deck, program schedules |
| Stage 5 | Due diligence | Buyer reviews contracts, backlog, IP, and clearances | Full Ellty room: contracts, IP, HR data, ITAR records |
| Stage 6 | Close | Purchase agreement signed, novation filed, funds transfer | Board approvals, novation request, escrow setup |
13 Los Angeles aerospace and defense M&A advisors in 2026
These firms are active in defense tech, aerospace, space, government services, and mission-critical industrials M&A in Los Angeles in 2026.
1. Janes Capital Partners
Janes Capital Partners is the only pure aerospace and defense investment bank in Southern California, founded in 1999 and based in Irvine. They publish quarterly A&D M&A market reports tracking every deal in the sector. Janes covered 109 A&D deals in Q1 2025, 115 in Q2 2025, and 112 in Q3 2025.
Recent Deals: Tracked Warburg Pincus and Berkshire Partners' acquisition of Triumph Group (Q1 2025). Tracked Eaton's acquisition of Ultra Precision Control Systems (Q2 2025). Active in A&D M&A advisory through 2026.
LinkedIn: Janes Capital Partners on LinkedIn
Sector Focus: Aerospace, defense, space, government services, A&D supply chain, defense electronics
Deal Type: Both
Deal Size: $10M-$500M
Location: Irvine, CA (Southern California, national A&D coverage)
Website: janescapital.com
2. Kroll (Aerospace Defense Government Group)
Kroll's ADG M&A practice is led out of Los Angeles by Steve Moon, who serves as Deputy Head of U.S. M&A Advisory and Co-Head of Global ADG M&A Advisory. In April 2025, Kroll advised Space Vector Corporation (Chatsworth, CA) on its sale to Fisica, Inc. Space Vector makes flight termination systems and mission-critical RF systems for space, missile defense, and launch vehicle programs.
Recent Deals: Advised Space Vector Corporation (Chatsworth, LA) on its sale to Fisica, Inc. (April 2025). Advised Bradken on the divestiture of its Specialty Products North America Division to TerraMar Capital (January 2025).
LinkedIn: Kroll on LinkedIn
Sector Focus: Aerospace, defense, space, government services, mission-critical industrials, defense electronics
Deal Type: Both
Deal Size: $25M-$1B+
Location: Los Angeles, CA (headquarters for ADG practice, global network)
Website: kroll.com
3. William Blair (Aerospace, Defense and Government Services)
William Blair has a dedicated A&D investment banking team covering aerospace components, defense electronics, space, government IT, MRO, and C5ISR. In 2025, William Blair advised Trexon - a portfolio company of Audax Private Equity - on its pending sale to Amphenol Corporation for approximately $1 billion. This is one of the largest mid-market A&D deals of 2025.
Recent Deals: Advised Trexon (Audax PE portfolio) on its pending $1B sale to Amphenol Corporation (2025). Advised Robin Radar on its sale to Parcom Capital Management (2025).
LinkedIn: William Blair on LinkedIn
Sector Focus: Aerospace, defense, space and C5ISR, government IT, MRO, defense electronics, FBO services
Deal Type: Both
Deal Size: $50M-$2B+
Location: Los Angeles, CA (West Coast coverage, national network)
Website: williamblair.com
4. Harris Williams (Aerospace, Defense and Government Services)
Harris Williams runs an active A&D M&A practice with deep PE sponsor relationships. In 2025, Harris Williams advised Raptor Scientific on its pending acquisition by TransDigm Group. They also advised on the sale of select aerospace and defense electronics businesses of Excelitas Technologies to Teledyne Technologies.
Recent Deals: Advised Raptor Scientific on its pending acquisition by TransDigm Group (2025). Advised Excelitas on the sale of select A&D electronics businesses to Teledyne Technologies (2025).
LinkedIn: Harris Williams on LinkedIn
Sector Focus: Defense tech, aerospace electronics, government services, MRO, defense supply chain
Deal Type: Both
Deal Size: $50M-$2B+
Location: Los Angeles, CA (West Coast coverage, national network)
Website: harriswilliams.com
5. Capstone Partners (Aerospace, Defense, Government and Security)
Capstone Partners covers the full A&D spectrum from air, land, sea, and space systems to defense supply chain and government security. They publish quarterly market reports tracking deal activity across all A&D sub-sectors. Capstone reported that A&D deal activity increased 15% in 2024 and continued outperforming the broader M&A market into 2025.
Recent Deals: Active in A&D M&A advisory through 2025-2026 with a dedicated Aerospace, Defense, Government and Security team publishing quarterly deal activity reports.
LinkedIn: Capstone Partners on LinkedIn
Sector Focus: Aerospace, defense, government services, security, space systems, defense supply chain
Deal Type: Both
Deal Size: $10M-$300M
Location: Los Angeles, CA (West Coast coverage, national network)
Website: capstonepartners.com
A&D M&A data room in Los Angeles
Share contracts, clearance records, and financials securely with defense buyers.
Start free 14-day trial6. Imperial Capital
Imperial Capital is headquartered in Century City, LA, and covers defense, aerospace, government tech, and tech-enabled services. Their 150+ professionals and 12 industry verticals give them broad deal coverage across defense and adjacent technology sectors. Imperial Capital handles transactions from $25M to over $1B across both PE and strategic buyers.
Recent Deals: Active in defense, aerospace, and technology M&A advisory through 2025-2026 with a dedicated LA presence and sector coverage across defense tech and government services.
LinkedIn: Imperial Capital on LinkedIn
Sector Focus: Defense, aerospace, technology, government services, tech-enabled services
Deal Type: Both
Deal Size: $25M-$1B+
Location: Los Angeles, CA (Century City headquarters)
Website: imperialcapital.com
7. Houlihan Lokey (Aerospace and Defense)
Houlihan Lokey is headquartered in Century City, LA, and ranked No. 1 globally for M&A transactions under $1B in 2024. Their A&D practice covers defense technology, mission-critical services, and government IT across both strategic and PE buyer pools. Houlihan Lokey's deal volume gives them real-time pricing data across every A&D sub-sector.
Recent Deals: Active in defense and mission-critical industrial M&A through 2025-2026 as the world's No. 1 M&A advisor by global transaction volume.
LinkedIn: Houlihan Lokey on LinkedIn
Sector Focus: Defense, aerospace, mission-critical tech, government IT, industrials
Deal Type: Both
Deal Size: $100M-$5B+
Location: Los Angeles, CA (Century City headquarters, global network)
Website: hl.com
8. Raymond James (Aerospace and Defense)
Raymond James covers defense, government services, aerospace components, and MRO with a sector-dedicated team. Their LA office serves mid-market A&D founders at deal sizes from $25M to $1B. Raymond James pairs equity research with M&A advisory to give LA founders full buyer coverage.
Recent Deals: Active in defense and aerospace M&A advisory across the West Coast through 2025-2026 with a dedicated LA team covering government services and aerospace components.
LinkedIn: Raymond James on LinkedIn
Sector Focus: Defense, government services, aerospace components, MRO, mission-critical services
Deal Type: Both
Deal Size: $25M-$1B+
Location: Los Angeles, CA (West Coast office, national network)
Website: raymondjames.com
9. Lincoln International (Aerospace and Defense)
Lincoln International's industrials and defense team covers defense tech, aerospace, government services, and mission-critical businesses with cross-border deal capability. Their global buyer network gives LA A&D founders access to European and Asian strategic acquirers that most domestic boutiques can't reach.
Recent Deals: Active in defense tech and mission-critical industrials M&A through 2025-2026 with West Coast coverage and global buyer access.
LinkedIn: Lincoln International on LinkedIn
Sector Focus: Defense tech, aerospace, government services, mission-critical industrials
Deal Type: Both
Deal Size: $50M-$1B+
Location: Los Angeles, CA (West Coast coverage, Chicago headquarters)
Website: lincolninternational.com
10. Jefferies (Aerospace and Defense)
Jefferies runs an active A&D investment banking practice with global buyer access across defense primes, PE platforms, and international strategic acquirers. Their LA team covers large-cap A&D transactions where cross-border buyer access and balance sheet capability matter. Jefferies is the right firm for LA A&D businesses with non-US buyer potential.
Recent Deals: Active in aerospace, defense, and government IT M&A through 2025-2026 with global coverage and LA office presence.
LinkedIn: Jefferies on LinkedIn
Sector Focus: Aerospace, defense primes, space, government IT, mission-critical tech
Deal Type: Both
Deal Size: $200M-$5B+
Location: Los Angeles, CA (office, global network)
Website: jefferies.com
11. Piper Sandler (Government and Defense Technology)
Piper Sandler covers government IT, defense tech, and mission-critical services with a research-informed approach. Their government services team tracks the federal spending landscape to identify buyer activity before clients go to market. Piper Sandler advises both strategic exits and PE-to-PE processes in the government tech segment.
Recent Deals: Active in government IT and defense technology M&A advisory through 2025-2026 with West Coast coverage.
LinkedIn: Piper Sandler on LinkedIn
Sector Focus: Government IT, defense tech, mission-critical services, cybersecurity, federal technology
Deal Type: Both
Deal Size: $50M-$2B+
Location: Los Angeles, CA (West Coast office, national network)
Website: pipersandler.com
12. DC Advisory (Aerospace and Defense)
DC Advisory covers aerospace, defense, and commercial aviation with an international network that spans the US, Europe, and Asia. They see a surge in A&D M&A driven by European rearmament and global defense spending increases. DC Advisory brings non-US buyer access that pure domestic advisors can't replicate.
Recent Deals: Active in aerospace, defense, and commercial aviation M&A through 2025-2026 with cross-border deal capability and a dedicated A&D practice.
LinkedIn: DC Advisory on LinkedIn
Sector Focus: Aerospace, defense, commercial aviation, MRO, space, defense supply chain
Deal Type: Both
Deal Size: $50M-$1B+
Location: Los Angeles, CA (West Coast coverage, global network)
Website: dcadvisory.com
13. Solomon Partners (Aerospace, Defense and Mission-Critical Industrials)
Solomon Partners published a dedicated Aerospace, Defense and Mission-Critical Industrials M&A update in January 2026, covering deal trends, buyer activity, and valuation data. Their industrials team covers defense supply chain, mission-critical manufacturing, and government services at the $100M-$5B range.
Recent Deals: Published a 2026 M&A update covering aerospace, defense, and mission-critical industrials deal activity. Active in A&D industrials advisory through 2025-2026.
LinkedIn: Solomon Partners on LinkedIn
Sector Focus: Aerospace, defense, mission-critical industrials, defense supply chain, government services
Deal Type: Both
Deal Size: $100M-$5B+
Location: Los Angeles, CA (West Coast coverage, national network)
Website: solomonpartners.com
ITAR and export controls in A&D diligence
ITAR and EAR compliance documentation is the most common cause of A&D deal delays in Los Angeles. Foreign buyers trigger State Department review requirements that can extend timelines by three to six months.
Your advisor needs to know which of your products are ITAR-controlled before outreach starts. Running a process and discovering ITAR issues after LOI is the fastest way to lose deal leverage.
Build your compliance documentation before the sale process starts. Log your ITAR exemptions, EAR license decisions, and technical assistance agreements in your data room from day one.
Use Ellty's due diligence workspace to organize your ITAR and export control records by category. Buyers who find complete compliance files move to LOI without the repricing conversations.
Read the M&A deal types guide to understand how asset sales vs. stock sales affect government contract novation in A&D transactions.
What PE buyers focus on in defense diligence
PE firms acquiring A&D businesses in 2026 focus on three things: revenue visibility from long-term government contracts, security clearance facility levels, and supply chain concentration risk.
Revenue backed by multi-year DOD contracts with options commands the highest multiples. Single-award IDIQ contracts are less valued than MATOC or GWAC vehicles with demonstrated task order flow.
Ask your advisor which PE platforms are running active A&D consolidation programs right now. Firms like Thoma Bravo, Apollo, and Warburg Pincus all closed A&D platform deals in 2025.
Use Ellty's private equity page to understand what financial sponsors check in defense company diligence before making an offer.
How to approach the government contract novation process
Novation is required when a government contractor's contracts are transferred to a new entity. The process takes 90-180 days and requires approval from every contracting officer on every affected contract.
Start novation prep before LOI. Your advisor should walk you through the novation request documentation requirements before entering diligence. Late discoveries create buyer leverage.
Your attorney and your advisor need to work together on the novation timeline. Deals that close before novation approval create liability for the buyer - most buyers won't close without it.
Use Ellty's sales enablement tools to keep your advisors and legal team aligned on document version control throughout the process.
How Ellty helps you close an aerospace and defense M&A deal in Los Angeles
Once you have your advisor, organize your contracts and compliance records. LA defense buyers check government documentation before making a bid.
- 1.Upload contracts, clearances, and financialsAdd government contracts and compliance records before buyer outreach.
- 2.Stage access by NDA tier and buyer typeControl who sees ITAR records and classified-adjacent technical files.
- 3.Track buyer document activity in real timeSee which buyers review your contract backlog and follow up with intent.
Common questions about Los Angeles aerospace and defense M&A advisors
- Janes Capital Partners in Irvine is the only pure A&D boutique in Southern California, focused exclusively on the sector since 1999.
- Expect five to nine months. Government contract novation and CFIUS review for foreign buyers can extend timelines by three to six months.
- Revenue visibility from long-term government contracts, security clearance facility levels, and supply chain concentration risk are the top three.
- Only if the buyer is a foreign entity or has foreign ownership. Your advisor and counsel should run a CFIUS risk assessment before outreach begins.
- Expect 2-5% for deals under $100M and 1-3% for deals above $100M, with minimum fees common for smaller transactions.
- Before your first advisor meeting. Load government contracts, clearance records, and ITAR documentation so buyers don't find gaps in diligence.
