The new acquisition environment is favoring companies with sharp positioning and clear purpose.

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Hi Rick,

Spin-offs are accelerating across the defense sector, and the reason is becoming clear. In the new acquisition environment, focus is not just operational. It is financial.

At the Baird 2025 Defense and Government Conference, leaders from across the industry made the same point. The Warfighting Acquisition System (https://c3chr04.na1.hubspotlinks.com/Ctc/F9+113/c3chr04/VW8FJj1gyPZPW6nNyqC96QXV8VLsY3L5GBxHjN2nfYyC3pyd0W95jsWP6lZ3mCW2vKthv6xx6CMW6gHss_1t8BWwW7kq2zB31T59MW7rfqfJ20hZcGW2WWSxh3YQCymW3HVRQZ5pfXjHW1NRfP54gXX2ZW6mVx3c6Kn9XrV7-qbY7J1DwGW7ZD36V753SzwW1jFr7d83CW3_W2KfvND1MMpRjW7hvsg22zWBdlW136NMb8N4XS7W5rX6yt3ZTltNW7QBr-56rq_nsW64YSNL6vMJ9jW3hV1YD1Ytf7DW2T27Gf3_Gz5GW93HzdH6rrrx8W8lZrds1qgFQBW3qy8_86LSbvgN1Qx72tMH34cW5r3_Qn95NmZ9W5Nhqyz7jStnBW25dDVl7nKT4sW7QYcfF8Vlq3RW8L9qGL8hdRT9W7K_v4D2JHT_yW569vvy8dXYZ9f1hfNM404 ) is shifting attention from incumbency to relevance. Companies that show clear mission alignment are gaining momentum faster than those relying on size or legacy alone.

Recent moves reinforce the trend:

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KBR’s planned carve-out of Mission Technologies Solutions

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Maxar’s (https://c3chr04.na1.hubspotlinks.com/Ctc/F9+113/c3chr04/VW8FJj1gyPZPW6nNyqC96QXV8VLsY3L5GBxHjN2nfYy03pyd0W7Y8-PT6lZ3kTW5RGVkp1wXKqNW1vMp8n1bP-LnV-0C0p29wGwJW62491C6tYNzsN5d7zkf1_x6MMyRBnZvdqN0W3zvwHF6PWCX9N3jCNX69MqDcN3lMb0WYdMPBW23b3gZ1clrt6W44rJYS1QD1qPW1prnwr7wF-PGW3Zzjvh1lk7JqW7Jk_wM5796_NW4skXPM66KJXxVy0KYK8_zlxNN2TThdzvmN_dW8s342C6yznb-W4m75RC2lkgvZW29S4273pqTvvN7f-snrFVW2MW4-95JJ1FMv_wW946Hv59htX6FW10PjQs7MGK0FN2_ZJ9J_M0YFW1mn9b75yv9pPf7nD8T-04 ) split into Vantor and Lanteris

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Intuitive Machines’ rapid acquisition of Lanteris

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Defense tech valuation multiples far outpacing traditional primes

When a business separates from its parent, the brand becomes the signal that tells customers and investors what the new entity stands for and why it exists.

In our latest blog (https://c3chr04.na1.hubspotlinks.com/Ctc/F9+113/c3chr04/VW8FJj1gyPZPW6nNyqC96QXV8VLsY3L5GBxHjN2nfYyC3pyd0W95jsWP6lZ3mWW8Zs7Px8XBQBwW7xDQz47_BLFGW6V0pS11Xs0ZRW8lzGR45k5g45W4-qFZ_4cb5jFW3xJWYd873K8KW5QfhnZ4x3pP4W8-V_ZV4Rdb_sW34ZnGw1Pfwr6W21w5kJ7S_yKYW7Sc1QL3bkSkyW8gpfFl7nMrF1W1tXsJr5F5QhtW8TJC-b5h0dRhV5fkZV3GGXtQW58qZLw70Rmm3W3-BM9Y5B_QhtW92rNzh2bV-YqW2BBpN4773RgZN83RfzGGFQ04W1Lz0t59jqprhW3pv4l438LtZmW7pbDtb8B6SWlW6bg34w6_yV_qV6_mTz7jNTwwW5yzyq26QkcQ3W6Fswf78nC8kPW7YB5px3FjwmcW4Jxn1K3jBz7XMwTD4tM3dwMf5bWsSF04 ) , we outline the brand imperatives every carve-out should prioritize to capture full value, including narrative clarity, investor confidence, customer reassurance, and internal alignment.

Read the full blog
(https://c3chr04.na1.hubspotlinks.com/Ctc/F9+113/c3chr04/VW8FJj1gyPZPW6nNyqC96QXV8VLsY3L5GBxHjN2nfYyC3pyd0W95jsWP6lZ3mWW8Zs7Px8XBQBwW7xDQz47_BLFGW6V0pS11Xs0ZRW8lzGR45k5g45W4-qFZ_4cb5jFW3xJWYd873K8KW5QfhnZ4x3pP4W8-V_ZV4Rdb_sW34ZnGw1Pfwr6W21w5kJ7S_yKYW7Sc1QL3bkSkyW8gpfFl7nMrF1W1tXsJr5F5QhtW8TJC-b5h0dRhV5fkZV3GGXtQW58qZLw70Rmm3W3-BM9Y5B_QhtW92rNzh2bV-YqW2BBpN4773RgZN83RfzGGFQ04W1Lz0t59jqprhW3pv4l438LtZmW7pbDtb8B6SWlW6bg34w6_yV_qV6_mTz7jNTwwW5yzyq26QkcQ3W6Fswf78nC8kPW7YB5px3FjwmcW4Jxn1K3jBz7XMwTD4tM3dwMf5bWsSF04 )

We help carve-outs and newly focused organizations turn structural change into strategic advantage.

If your organization is preparing for a carve-out or repositioning for greater focus, let’s talk (https://c3chr04.na1.hubspotlinks.com/Ctc/F9+113/c3chr04/VW8FJj1gyPZPW6nNyqC96QXV8VLsY3L5GBxHjN2nfYxK3pyd0W7lCdLW6lZ3mDW4-v42P371b6RN5GFvZXMvV_BN8MZzzrzP60jW2n9g1V79-f-pW1WQ_Rt8TkZ4JW1s_PYr52Tj3NW2QvqTl4hChCQM19bFWXJ1b0W1fk2wR6nw81KW2PlKSd90FHvvW3Rp8yZ1snSQvW68LZwY4LK448W8XqP1z1l6MSCW2Z1mNW3kGnJbVYCyN17xxLcgW60cy6-6mLXC9W1rNjTq4C9RpWW6QzG1j51SswHW3thRhl6-BxQKW2TD_5R5kTSC0W5nxNf88DdGk3W58yd1w7Q7SgTW6bDkxm2M_0nBVsp7C1761dQ7f5X8RW004 ) .

Best Regards,

Tanya Nazarian

SVP, Growth

703-299-5984

tanya@grafik.com (mailto:tanya@grafik.com)

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