Lockheed Martin [LMT] yesterday said that it has completed the divestiture of its Pacific Architects and Engineers (PAE) business unit to the private equity firm Lindsay Goldberg, LLC.
Terms of the transaction will not be disclosed, Lockheed Martin said.
Lockheed Martin last June decided to divest PAE after it realized the businesses’ customers were seeking solutions that were not part of Lockheed Martin’s core integrated solutions. The company announced in February that Lindsay Goldberg had agreed to acquire PAE. Lockheed Martin said then that the deal would be immaterial to its financial results.