We acquire and build lower middle market Aerospace & Defense companies.
Learn More About UsElephant Panda Holdings is a specialized acquisition firm focused on buying and building lower middle market aerospace and defense companies. Unlike financial buyers looking for quick exits, we buy to hold and operate businesses indefinitely. We pursue control acquisitions of established businesses, bringing deep operational expertise and industry relationships to drive growth and operational excellence.
Founded by Bradford Powell, who brings nearly 25 years of aerospace and defense experience, Elephant Panda Holdings understands the unique challenges and opportunities facing A&D companies. Our hands-on approach combines strategic capital with active operational support to help our portfolio companies scale, win larger programs, and achieve sustainable growth.
We are long-term holders, not short-term flippers. When we acquire a company, we're committed to its success for the long haul. This means:
Indefinite Hold Period: We don't acquire businesses with predetermined exit timelines. We build companies to last and operate them as long as they create value.
Employee Continuity: We recognize that your employees are the foundation of your business. We do our best to ensure smooth transitions, maintain existing teams, and invest in talent development. Your people become our people.
Operational Focus: Our success is tied to the long-term performance of our companies, not financial engineering or quick flips. We focus on sustainable growth and operational improvements.
We acquire lower middle market aerospace and defense companies with the following characteristics:
Company Profile: Established businesses serving the defense industrial base, including prime contractors, subcontractors, component manufacturers, and mission-critical service providers.
Financial Profile: Revenue of $10-50 million with strong EBITDA margins (typically 15%+ or clear path to margin improvement). Transaction sizes typically range from $5 million to $25 million.
Contract Base: Companies with recurring revenue from DOW (Department of War), DHS, NASA, or other government agencies, as well as prime defense contractors.
Transaction Types: Majority and control acquisitions, management buyouts, founder transitions, and strategic recapitalizations. We structure deals to meet the unique needs of each seller.
We don't just acquire companies—we actively build them. Our value creation approach includes:
Operational Excellence: Implementation of best-in-class program management, cost controls, and quality systems to improve margins and contract performance.
Strategic Growth: Execution of buy-and-build strategies to expand capabilities, customer base, and geographic reach through complementary acquisitions.
Contract Expansion: Leveraging industry relationships and past performance to win new programs, expand existing contracts, and pursue prime contractor opportunities.
Infrastructure Investment: Strategic investments in talent, security clearances, cybersecurity, CMMC compliance, quality certifications, and regulatory compliance to position companies for larger opportunities.
We understand that selling your business is one of the most important decisions you'll make. Whether you're planning retirement, seeking growth capital, or looking for a partner to take your company to the next level, we offer:
Long-Term Commitment: We buy to hold and operate indefinitely—not to flip in 3-5 years. Your legacy becomes our responsibility.
Employee Retention: We recognize how important your current employees are to your business's success. We do our best to ensure smooth transitions, retain key talent, and invest in your team's development. Your employees' livelihoods matter to us.
Fair Valuations: We base our offers on realistic assessments of current performance and achievable growth plans.
Flexible Structures: We tailor transaction structures to meet your financial and personal objectives, including earnouts, rollover equity, and consulting arrangements.
Continuity & Care: We respect the businesses you've built, maintaining continuity for customers, suppliers, and critical programs.
Industry Understanding: Deep knowledge of cleared programs, government contracting, export controls, and the unique compliance requirements of A&D businesses.
All conversations are strictly confidential. To discuss your business confidentially, contact our deal team at investments@ephold.com.
We're always interested in discussing new investment opportunities and partnerships in the aerospace and defense sector. Please reach out to learn more about how we can work together.
For investment opportunities, please contact our deal team at: investments@ephold.com
Existing portfolio companies can reach our operations team at: operations@ephold.com