Overview
- Lockheed signed a definitive agreement on Monday, July 6, to buy Ultra Maritime from private equity firm Advent International for $3.45 billion.
- The deal calls for Ultra’s team and products to join Lockheed’s Rotary and Mission Systems business once customary closing conditions and regulator sign‑offs are met.
- Ultra supplies sonar, sonobuoys, torpedo‑defense countermeasures and autonomous maritime sensors and recently won a U.S. Navy acoustic decoy contract.
- Advent bought and rebuilt the business starting in 2022 and invested roughly $170 million in product development and production capacity, including standalone sonobuoy manufacturing.
- Lockheed named Citi as financial adviser and Hogan Lovells Cadwalader and Fried Frank as legal and tax counsel, and the acquisition is expected to broaden allied navies’ access to undersea warfare systems while shoring up Lockheed’s undersea offerings.