L3Harris Technologies Sells its Commercial Aviation Solutions Business for $800 Million
L3Harris agrees to divest its commercial aviation solutions business for $800 million
L3Harris sells aviation solutions for $800 mln.
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In a grandiose move that has sent shockwaves through the business sphere, L3Harris Technologies has announced the sale of its commercial aviation solutions business. The lucky buyer? None other than the private equity firm TJC L.P.. And the price tag? A whopping $800 million!
The deal, described as one for the history books, comprises a mesmerizing $700 million in cold, hard cash. But wait, there’s more! An additional $100 million will be thrown into the pot, contingent upon achieving certain financial performance targets for the years 2021 and 2024. It feels like a high-stakes game of poker, doesn’t it?
L3Harris’ commercial aviation solutions business is a gold mine of offerings. From pilot training to flight data analytics, avionics to advanced air mobility products and services, they’ve got it all covered. With a team of approximately 1,450 talented individuals, they have been at the forefront of innovation and excellence in the aviation industry.
Picture this: a soaring eagle, spreading its wings wide, representing L3Harris’ commitment to reaching new heights. In a statement that made our hearts flutter, L3Harris revealed their strategic plan to use the mouthwatering proceeds from this transaction to repay debt. It’s like a financial jigsaw puzzle, fitting all the pieces together to accelerate their timeline towards achieving their debt leverage objective.
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As the curtains draw on this spectacle, let’s give credit where credit is due. Kudos to Morgan Stanley and Moelis & Co, the financial advisers who guided L3Harris through this exhilarating deal. And a round of applause for J.P. Morgan Securities LLC, the trusted advisor to TJC L.P., marking their significant contribution to this blockbuster transaction.
Raise your glasses, ladies and gentlemen, for the closing of this epic deal is slated for the first half of 2024. Exciting times are ahead, and we can only imagine what the future holds for both L3Harris Technologies and the commercial aviation industry.
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Dear readers, have you ever witnessed a business deal that sets your heart racing? Well, this is one such deal! L3Harris Technologies has made a bold move by selling its commercial aviation solutions business for a staggering $800 million. Can you imagine counting that many zeros in your bank account? It’s mind-boggling!
But let’s take a moment to appreciate the range of services provided by L3Harris’ aviation division. From pilot training to advanced air mobility products, they have been soaring high in the industry. And with around 1,450 skillful employees onboard, it’s no wonder they’ve achieved such success.
Now, let’s fasten our seatbelts for the thrilling part. L3Harris not only gets a massive cash injection but a chance to repay their debt as well. Talk about killing two birds with one stone! This strategic move allows them to unlock new opportunities and strengthens their financial position. It’s like slaying a financial dragon and claiming the ultimate treasure!
Behind the scenes, there were financial masterminds steering this ship. Morgan Stanley and Moelis & Co led L3Harris through the twists and turns of this exhilarating adventure. And let’s not forget J.P. Morgan Securities LLC, the trusted guide to TJC L.P., ensuring both parties emerged victorious.
So mark your calendars, my friends, for the first half of 2024, when this grand finale will take place. The commercial aviation world is in for a wild ride, and we can’t wait to see what the future holds for L3Harris and the visionary minds who shape it.
Don’t forget to fasten your seatbelts and share your thoughts on this thrilling saga! What do you think about L3Harris’ strategic move? Is this the dawn of a new era in commercial aviation? Let us know in the comments below!
