Advent International is exploring a potential sale of Ultra Maritime that could value the business at more than £3bn, or approximately $4bn, according to Bloomberg sources.

Ultra Maritime focuses on anti-submarine warfare technologies used across air, surface, and underwater defense systems. Its portfolio includes sonar systems, sonobuoys used for submarine detection, and torpedo countermeasure technologies.

The company supplies naval forces in several major defense markets, including the US, UK, Canada, and Australia.

Advent gained control of the business through its acquisitions of UK defense groups Cobham and Ultra Electronics Holdings. The firm has since divested several assets from those transactions.

In June, Advent agreed to sell Ultra PCS, which produces ejection systems used for missile deployment, to Eaton for $1.55bn.

Investor interest in defense assets has surged as governments increase military spending in response to rising geopolitical tensions. The European Union has pledged hundreds of billions of euros to strengthen the region’s defense industry and reduce reliance on US military capabilities.

Demand for maritime defense technologies has also intensified as naval security becomes increasingly important amid global conflicts and concerns about underwater infrastructure security.

Advent could still decide not to pursue a sale of Ultra Maritime as discussions remain at an early stage.

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