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Business/Financial

American Industrial Partners Completes Acquisition Of Vertex Aerospace From L3

By Cal Biesecker

Thursday, July 5th, 2018

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American Industrial Partners Completes Acquisition Of Vertex Aerospace From L3

Chris Kubasik, chairman, president and CEO of L3 Technologies. Photo: L3

L3 Technologies [LLL] on Tuesday said it had completed the sale of its Vertex Aerospace businesses to the private equity firm American Industrial Partners for $540 million in cash.Last October, L3 said it planned to divest Vertex to focus on the products and solutions businesses within its Aerospace Systems segment. Vertex lost several major competitions last year that L3 said were based on changes in customer behavior toward lower price work.“The sale of Vertex is another positive step that will…

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