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Aerospace & Defense | Industrials
2025

Marshall has sold Marshall Land Systems to Flowing River Capital

Marshall Land Systems

Marshall Land Systems (Land Systems) is a leading provider of deployable and vehicle-based infrastructure as well as support services for the defense market. It provides customers with effective in-field solutions including tailored containerized units, design and integration of subsystems and through-life support services. With operations in the UK and Canada, Land Systems has close relationships with several NATO members and defense Primes underpinned by long-term contracts.

The Deal

Lincoln International advised the Marshall Group on the sale of its subsidiary Marshall Land Systems to Flowing River Capital. Lincoln was entrusted with this mandate given its significant experience in the defense market, global buyer relationships and process execution capabilities.

Lincoln led a global marketing process targeting both strategic defense organizations and investment funds, ensuring competitive tension and transaction certainty. This is the second carve-out sale Lincoln has advised the Marshall Group on in 2025 following the sale of Slingsby Advanced Composites to Mangohojden AB.

Our Perspective

Matthew Buck, Lincoln International Managing Director who led the transaction, commented, “We are pleased to have worked with Marshall Group on the sale of Marshall Land Systems. As the European defense sector continues to evolve, this partnership provides Land Systems with the right partner to strengthen its position and respond to increasing demand in the years ahead.”

Flowing River Capital

Flowing River Capital is an Indigenous-owned and led investment firm based in Saskatchewan, Canada.

Related
Perspectives

Connect with a Senior Team Member
Marshall Land Systems has built an outstanding reputation for delivering specialist deployable infrastructure. We have every confidence that Flowing River Capital is an excellent partner to build on this success to ensure the long-term future of the business.
Roger Hardy, Chair of Marshall
Chair of Marshall

Meet our Senior Team

Headshot of Matthew Buck
I enjoy the opportunity to interact with interesting and diverse clients and work tirelessly to achieve the best results.

Matthew Buck

Managing Director

London

Headshot of Julian Tunnicliffe
I enjoy the variety in the work I do. No two businesses are the same, no two clients are the same and no two processes are the same.

Julian Tunnicliffe

Senior Director

London

Headshot of James Wardle
I find each unique client experience rewarding, understanding their diverse ranges of strategic goals and working collaboratively to achieve successful outcomes.

James Wardle

Director

London

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Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.