Defense & Government Investment Banking
The Raymond James Defense & Government Investment Banking team offers unparalleled expertise to companies providing services and technologies to federal, state and local governments. The team delivers M&A advisory, public and private capital-raising and valuation/fairness opinion analysis to middle-market companies, with a focus on creating long-term value for our clients. A client-oriented approach, robust distribution capabilities and full range of service capabilities have helped make us one of the industry’s leading investment banks. Our investment banking team is complemented by our award winning public company research coverage which is led by individuals with decades of experience, including a former U.S. Air Force captain who specializes in government services and technologies.
Defense & Government Subsector Expertise
- C4ISR systems
- Cybersecurity
- Data analytics
- Defense electronics
- Geospatial intelligence
- Health IT
- Intel support and analysis
- IT and outsourced services
- Software/SAAS
- Space systems and satellite communications
- State and local
- Unmanned systems
Defense & Government Insights
Senior Banking Team
Transaction History
February 2026
About Kratos Defense & Security Solutions, Inc.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, hardware, products, system and software company addressing the defense, national security, and commercial markets.
February 2026
About nLIGHT, Inc.
nLIGHT, Inc. (NASDAQ: LASR) is a leading provider of high-power lasers for directed energy, optical sensing, and advanced manufacturing applications.
January 2026
About York Space Systems
York Space Systems, Inc. (NYSE: YSS) is a leading, U.S.-based, space and defense prime providing a comprehensive suite of mission-critical solutions for national security, government and commercial customers.
November 2025
About Quiet Professionals
Quiet Professionals is a veteran-founded defense and technology company specializing in intelligence, advanced analytics, cybersecurity, and mission support for U.S. government agencies.
July 2025
About Parsons Corporation
Parsons Corporation is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection.
July 2025
About AeroVironment
AeroVironment (NASDAQ: AVAV) is a defense technology leader delivering integrated capabilities across air, land, sea, space, and cyber.
July 2025
About AeroVironment
AeroVironment (NASDAQ: AVAV) is a defense technology leader delivering integrated capabilities across air, land, sea, space, and cyber.
June 2025
About Kratos
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets.
October 2024
About Antenna Research Associates ("ARA")
ARA enables the U.S. Department of Defense and other national security-focused customers to modernize legacy platforms and deploy next-generation systems that enhance situational awareness, threat detection, and advanced communication capabilities.
September 2024
About Artel
Artel serves as a leading provider of telecommunications and technology support services delivering cost-effective, on-time, reliable communications services, cybersecurity, and IT solutions.
September 2024
About V2X
V2X is a leading provider of critical mission solutions and support to defense clients globally. V2X delivers a comprehensive suite of integrated solutions across the operations and logistics, aerospace, training and technology markets to national security, defense, civilian and international clients.
September 2024
About Iron Eagle X
Iron EagleX, Inc. (IEX), is a leading provider of artificial intelligence/machine learning, cyber, software development and cloud services for the Special Operations Forces and the intelligence community.
September 2024
About C5MI
Founded in 2016, C5MI is a leader in digital transformations and modernization, solving complex supply chain and logistics challenges for Federal and State Governments as well as Fortune 200 companies.
August 2024
About Parsons
Parsons Corporation is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection.
August 2024
About Moxfive
Founded in 2019, MOXFIVE is a cybersecurity company helping customers respond to cyber incidents and minimize the risk of future attacks.
April 2024
About Herrick Technology Labs
Herrick Technology Laboratories, Inc. is a leading provider of high performance, SIGINT/EW/Communications products and systems to the U.S. Department of Defense.
February 2024
About Kratos Defense and Security Solutions
Kratos Defense & Security Solutions, Inc. is a technology, products, system and software company addressing the defense, national security, and commercial markets.
December 2023
About Ridgeline International
Ridgeline International is a provider of proprietary intelligence and cyber technology solutions to control data, protect against Ubiquitous Technical Surveillance, and enable Digital Signature Management, for the Intelligence Community and Department of Defense customers.
December 2023
About Clarity Innovations
Clarity Innovations, LLC is a provider of advanced data and cyber analytics services and software to the U.S. national security community.
November 2023
About T2S Solutions
T2S Solutions (“T2S”) is a differentiated provider of innovative, next-generation, and mission-focused products and solutions for a growing number of Department of Defense and Intelligence Community research and development and program offices.
August 2023
About Strategic Technology Consulting
Strategic Technology Consulting is an industry leading solutions provider in digital engineering and model-based systems engineering.
May 2023
About Secure Innovations
Secure Innovations, LLC (“SI”) is a pure-play provider of end-to-end cybersecurity solutions on mission-critical programs for the Intelligence Community and Department of Defense.
May 2023
About Innoplex LLC
Established in 2005 and headquartered in Columbia, MD, Innoplex, LLC is a mission-focused company supporting global customers in the Intelligence and Defense community.
February 2023
About Resolute Technologies
Resolute Technologies, LLC is a leading provider of computer network operations, infrastructure and architecture, and enterprise software engineering solutions.
November 2022
About InnovaSystems International
InnovaSystems International (“InnovaSystems”) is a provider of information technology and software solutions that streamline access to critical military decisioning data in support of key defense readiness programs.
September 2022
About Gradient Zero
Gradient Zero offers innovative identity management products and services to support a broad range of missions delivering solutions.
July 2022
About Epiq Solutions
Epiq Design Solutions, Inc. dba Epiq Solutions is a leading provider of low size, weight, and power software-defined radio products and turnkey RF solutions that support a range of defense-focused and enterprise use-cases.
March 2022
About Bohemia Interactive Solutions
Bohemia Interactive Simulations is a global software developer of simulation training solutions for military organizations. Using the latest game-based technology, the Company develops high-fidelity, cost-effective training and simulation software products and components to meet the growing demand for defense applications.
February 2022
About PAE Incorporated
PAE Incorporated delivers smart, secure, and mission-critical operational support, information analysis, and business process services across all seven continents and in approximately 60 countries.
November 2021
About BlackLynx
BlackLynx is an industry-leading software-enabled solutions company in the national security space with transformational technology and products in edge computing, hybrid-cloud infrastructure and collection automation.
November 2021
About Cadre Holdings Inc.
For over 55 years, Cadre Holdings has been a global leader in the manufacturing and distribution of safety and survivability equipment for first responders.
September 2021
About Intelligent Automation Inc.
Intelligent Automation, Inc. is a leading provider of next generation technology and productized solutions in the fields of artificial intelligence/machine learning, cybersecurity, hypersonics, space, 5G, data analytics, and radio frequency/communications.
September 2021
About Tracepoint
Tracepoint specializes in digital forensics and incident response with a comprehensive portfolio of pre- and post-breach services.
July 2021
About BlackHorse Solutions
BlackHorse is a technology company in the national security space with leading capabilities in cyber, electronic warfare, digital operations, artificial intelligence/machine learning, information operations, readiness support, and full spectrum operations.
February 2021
About Cubic
Cubic Corporation is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR and defense training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness.
February 2021
About Two Six Labs
Two Six Labs, Inc. is a leading provider of cybersecurity and advanced technology solutions for the U.S. Government, including customers within DARPA, U.S. Cyber Command, the Department of Homeland Security and the broader Department of Defense and Intelligence Community.
December 2020
About Tracepoint LLC
Tracepoint specializes in digital forensics and incident response with a comprehensive portfolio of pre- and post-breach services.
November 2020
About METIS Solutions
METIS Solutions (“METIS”), a Blue Delta Capital Partners portfolio company, is a leading provider of intelligence analysis, operational and tactical training and program management focused on supporting intelligence community, national security and defense customers.
September 2020
About Digital Force Technologies
DFT is a leading innovator in the design and development of hardware and software products used for force protection and tactical surveillance primarily for government customers.
September 2020
About IST Research
IST Research Corporation is a leading provider of open source data collection, population engagement, and content discovery solutions primarily for U.S. Government customers.
August 2020
About Griffon Corporations
Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures.
July 2020
About Five Arrows
Five Arrows, an international private equity group, has acquired a majority stake in Juvare, a leading US-based provider of crisis management, emergency preparedness and response software, from Thomas H. Lee Partners.
January 2020
About Pixia
PIXIA Corporation is a private software company based in Herndon, Virginia, which provides high performance advanced data indexing, warehousing, processing, and dissemination software solutions for large volumes of imagery data within traditional or cloud-based architectures.
August 2019
About ARMA Aviation
ARMA Aviation is a leading global provider of supply chain and logistics management and aircraft maintenance, repair, and overhaul services to the U.S. military and its allies.
July 2019
About Advantor
Advantor Systems is a provider of fully integrated command, control, and communications (“C3”) networked security solutions to U.S. DoD customers.
June 2019
About Pixia
PIXIA Corporation is a private software company based in Herndon, Virginia, which provides high performance advanced data indexing, warehousing, processing, and dissemination software solutions for large volumes of imagery data within traditional or cloud-based architectures.
June 2019
About Merlin
Merlin is a provider of next-generation cybersecurity software serving highly-regulated customer sets, including a diverse set of U.S. federal government agencies.
March 2019
About Sparton Corporation
Sparton Corporation is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service and refurbishment.
November 2018
About Cubic
Cubic Corporation (“Cubic”) is a market-leading, technology provider of integrated solutions that increase situational understanding for transportation, defense C4ISR and training customers. Cubic designs, integrates and operates systems and products to decrease urban congestion and improve the militaries’ effectiveness and operational readiness.
August 2018
About Black Box
Black Box’s Federal Government IT Solutions Business is a leading, full-service systems integrator and managed services provider offering a broad array of services and solutions to the U.S. Department of Defense, civilian agencies, and state correctional facilities.
May 2018
About Polaris Alpha LLC
Polaris Alpha, LLC is an advanced, technology-focused provider of innovative mission solutions for complex defense, intelligence, and security customers, as well as other U.S. federal government customers.
May 2018
About Axon Enterprise Inc.
The Axon network is a network of devices, apps and people that helps law enforcement become smarter and safer. The company’s mission is to protect life.
May 2018
About Cubic
Cubic Global Defense Services provides industry-leading training, operations, intelligence, maintenance, technical, and other support services to the U.S. government, its agencies and allied nations.
April 2018
About STG
STG is a provider of mission enabling IT services in support of leading defense, national security and intelligence community customers.
January 2018
About GovPayNet
GovPayNet has been processing electronic payments of credit and debit cards on behalf of government entities for over 20 years.
September 2017
About Xebec Global Corporation
Xebec is a premier provider of human intelligence and related services to highly classified customer sets within the U.S. Intelligence Community.
July 2017
About Sparton Corporation
Sparton Corporation is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service and refurbishment.
May 2017
About ABM
ABM Government Services provides industry-leading mission support, critical infrastructure services, healthcare facility services, and healthcare construction expertise to the U.S. Government.
May 2017
About Schafer Corporation
Schafer is a leading provider of scientific, engineering, and technical services to national security focused government agencies in areas such as CBRNE, space systems, air and missile defense, and cybersecurity.
January 2017
About Booz Allen Hamilton
Raymond James provided the fairness opinion to Booz Allen Hamilton in its acquisition of Aquilent, a leading provider of IT services, including application development and cloud solutions.
Transaction history may include transactions completed by a Raymond James banker while at a former firm.