Photos: L3Harris Technologies
L3Harris Technologies on Monday said it has completed the sale of its Commercial Aviation Solutions (CAS) business to the investment firm TJC L.P. for $800 million, shedding a non-core unit.
L3Harris said the entire purchase price was paid at closing. When the deal was first announced in November 2023, L3Harris said the terms included $700 million in cash and a potential $100 million earnout provision base on achieving certain performance targets in 2023 and 2024, which apparently were met.
The CAS unit was part of L3Harris’ Integrated Mission Systems segment. CAS provides commercial avionics, pilot training, flight data analytics, and support for advanced air mobility.
Jefferies aerospace and defense analyst Sheila Kahyaoglu said in a client note that the divestiture removes $480 million in sales from L3Harris’ revenue guidance in 2025.
Under TJC, the business has been renamed Acron Aviation and is led by Alan Crawford, CEO. Acron has facilities in Britain, the U.S., Thailand, and India.
A version of this story originally appeared in affiliate publication Defense Daily.