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L-3 Acquires Airport Security Integrator MacDonald Humfrey

Cal Biesecker By
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L-3 Communications [LLL] has acquired United Kingdom-based MacDonald Humfrey for $280 million in cash, bolstering the company’s aviation security business by adding system integration capabilities around automated checkpoint solutions.The purchase price has a potential earn-out provision of $37.5 million if MacDonald Humfrey meets certain performance targets in 2017, 2018 and 2019. L-3 says MacDonald Humfrey is expected to generate $135 million in sales in 2017. The company also says the purchase price represents a multiple about 10 times MacDonald Humfrey’s…

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