PT - JOURNAL ARTICLE AU - John F. Lehman AU - Stephen L. Brooks TI - Rapid Escalation AID - 10.3905/jpe.2000.319955 DP - 2000 May 31 TA - The Journal of Private Equity PG - 7--11 VI - 3 IP - 2 4099 - https://pm-research.com/content/3/2/7.short 4100 - https://pm-research.com/content/3/2/7.full AB - In the last decade, the U.S. aerospace and defense industries have experienced explosive levels of deal-making and consolidation, presenting significant opportunities - and risks - to private equity groups seeking to participate in the rapid industry transformation. LBOs have been in the forefront, as public companies divested their defense subsidiaries and small suppliers merged in order to build the critical mass required to met defense contracts' demands. Despite substantial political and regulatory issues, the sector offers attractive profitability to the informed sponsor: one who is able to accurately evaluate a company's prospects and take action to enhance its performance.