Aerospace & Defense Deals: Lease Assignments Done Right
Managing Lease Assignments on aerospace and defense deals, with the structure protection and capital connectivity an independent sponsor actually needs.
Lease Assignments on aerospace and defense deals is one of those workstreams that looks routine on a checklist and decides outcomes in practice.
The typical aerospace and defense platform sits at $15M to $200M EV with EBITDA in the $3M to $30M range. The thesis runs on tier-two or tier-three supplier consolidation with certifications as moat. Foreign LP capital can trigger CFIUS review on the cleanest of deals. Map the cap table early.
How Lease Assignments actually gets structured.
Pull every lease, estoppel, and SNDA in the data room.
Identify landlord consent requirements and prepare consent packages.
Address landlord recapture rights that can be triggered at change of control.
Sequence consent collection to avoid a last-minute single-landlord veto.
In aerospace and defense, layer in ITAR / EAR registration transferred or refiled before close as part of the Lease Assignments workstream.
Waiting until two weeks before close to request landlord consents. Landlords use the timeline against the buyer.
"Lease consents are the deal-killer that never makes the highlight reel. Start early, finish early."Jason Powell · Lease Assignments
The deal is one thing. The capital that opens up after close is another.
The capital that opens up post-close, from refinancing to growth equity to strategic exit, runs through a small set of Wall Street relationships. That network is built in.
Related deal pages.
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Management Fee Structuring for Aerospace & Defense
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Transaction Fee Structuring for Aerospace & Defense
The fee paid at closing to the independent sponsor for sourcing, structuring, and closing the platform deal a…
Working Capital Adjustments for Aerospace & Defense
The closing-date true-up that protects the buyer from receiving a business stripped of normal-course working …
Lease Assignments for Healthcare Services
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An LOI on the desk, a aerospace and defense target, and a Lease Assignments question worth a real conversation.
Twenty minutes of practitioner-grade input from a securities attorney whose first move is to read the deal, not the engagement letter.