Boutique investment bank Gleacher Partners LLC scored something of coup in winning the mandate to advise General Dynamics Corp. in its Sfr2.45 billion ($2.25 billion) purchase of air services firm Jet Aviation Management AG, announced Aug. 19. Under CEO Nicholas Chabraja, General Dynamics has generally opted to forgo outside M&A advice, including when it bought Anteon International Corp. for $2.1 billion in 2005 and Veridian Corp. for $1.1 billion in 2003.

The U.S. defense contractor's acquisition of Zurich-based Jet Aviation, which has been owned by an affiliate of London buyout shop Permira Advisers LLP since 2005, will expand its foray into the business aviation market -- it currently operates 12 corporate jet service centers located mainly in the U.S. and has been manufacturing Gulfstream business jets since 1999. With Jet Aviation, it will add 25 airport facilities across the globe, and more may follow. Chabraja told analysts at a conference call that he sees "more room to grow the business."

The deal marks the first time Gleacher, founded by former Morgan Stanley M&A banker Eric Gleacher, has worked on a transaction for the Falls Church, Va., defense giant. Gleacher's bankers on the deal were Kenneth Ryan, Harry Bond, Albert Auclair and Evan Hindman, all based in New York. The firm has been active in the defense industry, however. Gleacher Shacklock LLP, its London affiliate, advised Britain's BAE Systems plc in its $4.2 billion takeover of United Defense Industries Inc. in 2005.

For legal counsel, General Dynamics tapped advice in London, Zurich and Chicago. In London, Martin Nelson-Jones led the team from law firm Freshfields Bruckhaus Deringer LLP. Zurich-based partner Claude Lambert headed the legal effort at Homburger AG, while Jenner & Block LLP, General Dynamics' longtime outside counsel, rounded out the legal triumvirate.

Advising Permira was a Morgan Stanley crew including Cyrus Behbehani from the global industrials group, Dieter Turowski from the M&A group, Kathleen McCabe in the financial sponsors group and Peter Volker-Albert in the German investment banking unit.

Skadden, Arps, Slate, Meagher & Flom LLP provided Permira with legal counsel, with Allison Schneirov and Mark Smith leading the Skadden bench. Schneirov is a familiar face to Permira having previously advised the private equity consortium led by Blackstone Group LP, and including Carlyle Group, Permira Funds and Texas Pacific Group, now TPG Capital, in their $17.6 billion acquisition of Freescale Semiconductor Inc.