||United States : L3 Announces Sale of Vertex Aerospace Business
||Simpson Thacher represented L3 Technologies in connection with the recently announced sale of its Vertex Aerospace business to American Industrial Partners for $540 million in cash. As part of the agreement, L3 will also sell its Crestview Aerospace and TCS business units, which are included in the Aerospace Systems business segment. The transaction is expected to be completed in the summer of 2018, subject to customary closing conditions and regulatory approvals.
L3 Technologies employs approximately 31,000 people worldwide and is a leading provider of a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. Vertex Aerospace provides aviation logistics services, supply chain management, and maintenance, repair and overhaul services. Crestview Aerospace provides select rotary aircraft component fabrication and assembly, and TCS provides select engineering services and logistics support.
The Simpson Thacher team included Bill Curbow, Jonathan Stradling and Seth Lowinger (M&A); John Creed and Pierce Pandolph (Tax); David Rubinsky and Eric Wolf (ECEB); Lori Lesser and Amber Harezlak (IP); Abram Ellis and David Shogren (Regulatory); Peter Guryan, Ellen Frye and Peter Herrick (Antitrust); William Sheehan (Credit); Michael Isby and Timothy Mulvihill (Environmental); and Krista McManus and Timothy Gallagher (Real Estate).
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