TJC LP has agreed to acquire the Commercial Aviation Solutions business of L3Harris Technologies (NYSE: LHX) for $700 million.
CAS has two operating business units; the Avionics unit designs and manufactures IP-driven avionics products, and the Commercial Training Solutions unit provides a suite of aircraft training services. The Avionics unit’s products include ADS-B NextGen surveillance, configurable voice and data recorders, collision avoidance systems, navigation products, display systems, processors and additional products such as satellite communications equipment and data analytics services. The CTS unit manufactures training systems and provides airline training, including recurring courses for pilots and airline academy participants.
J.P. Morgan Securities LLC is acting as financial advisor and Kirkland & Ellis LLP is serving as legal counsel for TJC. Morgan Stanley & Co. LLC and Moelis & Company LLC are acting as financial advisors and Sullivan & Cromwell LLP is serving as legal counsel for L3Harris.