ULTRA MARITIME
OUR CLIENT
- A global leader in anti submarine warfare (ASW) solutions across airborne, surface, and undersea domains, delivering next generation undersea warfare technology to allied naval forces worldwide.
- Headquartered in Braintree, Massachusetts, with operations across the United States, Canada, United Kingdom, and Australia, and more than 2,000 employees worldwide.
- Recognized for world leading acoustics, sonar, sonobuoy, torpedo defense, and autonomous maritime sensing technology serving Five Eyes navies and allied defense forces.
- Formed in 2022 when Advent International, through its Cobham Ultra platform, acquired the business from Ultra Electronics plc, uniting previously dispersed undersea warfare capabilities into one integrated enterprise.
Why NorthWind?
NorthWind Partners was engaged by Advent International in 2022, shortly after its acquisition of Ultra Electronics, to help build the leadership team needed to unify and scale what would become Ultra Maritime.
Over the course of the engagement, NorthWind recruited and placed a Board Director, the Chief Executive Officer, Chief Financial Officer, Chief Growth Officer, and two Vice Presidents of Finance: a leadership team spanning governance, strategy, and financial operations.
Carlo Zaffanella, delivered by NorthWind as President and CEO, joined from General Dynamics Mission Systems, where he led its maritime and strategic systems portfolio. He brought deep undersea warfare and naval defense expertise to guide Ultra Maritime’s transformation into a unified, scaled enterprise.
The Result
Under the leadership team NorthWind placed, Ultra Maritime grew from a collection of previously dispersed capabilities into a unified, mission focused enterprise, with revenue climbing from $494 million in 2023 to a projected $784 million in 2026. Advent invested approximately $170 million in advanced product development and dedicated manufacturing capabilities, while the company formed strategic partnerships with Anduril Industries and General Atomics to expand into autonomous and unmanned undersea warfare.
On July 6, 2026, Lockheed Martin (NYSE: LMT) signed a definitive agreement to acquire Ultra Maritime for $3.45 billion, expanding Lockheed Martin’s undersea and anti submarine warfare capabilities within its Rotary and Mission Systems business area, a successful exit for Advent and validation of the platform NorthWind’s placements built.
Note: the 2026 revenue figure reflects projected/estimated revenue reported in industry press coverage of the transaction, not final audited results.