L-3 Divestment of Vertex Aerospace Completed

L-3 Technologies has completed the divestment of its Vertex Aerospace business lines, which have been sold to private equity fund American Industrial Partners for USD540 million in cash. This includes the CrestView Aerospace and TCS units, which had operated under L-3’s Aerospace Systems division. Vertex Aerospace itself provides aviation logistics...

L-3 Technologies has completed the divestment of its Vertex Aerospace business lines, which have been sold to private equity fund American Industrial Partners for USD540 million in cash.

This includes the CrestView Aerospace and TCS units, which had operated under L-3’s Aerospace Systems division.

Vertex Aerospace itself provides aviation logistics services, supply chain management, and maintenance, repair and overhaul services, while Crestview Aerospace offers specific rotary-wing aircraft component fabrication and assembly. TCS is a select engineering services and logistics support provider.

“The sale of Vertex is another positive step that will enable us to reshape and align our portfolio with customers’ priorities,” Christopher Kubasik, L3’s chairman, CEO and president, said.

Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihs.com/contact

Source: www.janes.com