Home / M&A Activity / Christopher Kubasik: L3 to Continue Investment Strategy After Vertex Aerospace Business Sale

Christopher Kubasik: L3 to Continue Investment Strategy After Vertex Aerospace Business Sale

Christopher Kubasik

New York-based investment firm American Industrial Partners has closed its purchase of Vertex Aerospace businesses from L3 Technologies (NYSE: LLL) for approximately $540 million in cash.

The transaction initially announced in May is subject to customary adjustments and covers the acquisition of L3’s TCS and Crestview Aerospace business units that operate under the technology contractor’s aerospace systems segment, L3 said Tuesday.

Christopher Kubasik, L3 chairman, president and CEO and a 2017 Wash100 recipient, said the company aims to align its portfolio with clients’ priorities and plans to use the proceeds from the sale to invest in businesses that support its growth efforts.

Vertex Aerospace is an aviation logistics support, maintenance, repair and overhaul and supply chain management services provider.

TCS delivers logistics and engineering services and Crestview offers rotary aircraft component assembly and fabrication support services.

Check Also

Report: NGA Could Put $830M in FY 2019 Contracts Up for Competition

The National Geospatial-Intelligence Agency’s updated forecast for contracting opportunities shows that nine potential solicitations totaling …

USAF Awards Lockheed $172M Contract for Lot 2 Long-Range Anti-Ship Missiles

The U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) a potential three-year, $172.1M to manufacture a …