Private-equity firm TJC acquires L3Harris’ CAS business

  • L3Harris Technologies is selling its Commercial Aviation Solutions business for up to $800 million
  • The business makes electronic systems for commercial and military aircraft
  • The deal includes a surveillance joint venture and is subject to a right of first refusal
  • TJC will pay $700 million in cash and $100 million based on financial targets
  • L3Harris will use the proceeds to pay down debt

L3Harris Technologies has announced the sale of its Commercial Aviation Solutions (CAS) business to private-equity firm TJC for up to $800 million. The CAS business specializes in manufacturing electronic systems for both commercial and military aircraft, as well as offering pilot training and flight-data analytics. The deal also includes L3Harris’ surveillance joint venture and is subject to a right of first refusal. TJC will pay $700 million in cash for the business, with an additional $100 million potential earnout based on the achievement of certain financial targets. L3Harris plans to use the proceeds from the sale to pay down debt.

Factuality Level: 9
Factuality Justification: The article provides factual information about L3Harris Technologies selling its Commercial Aviation Solutions business to private-equity firm TJC for up to $800 million. It includes details about the business’s products, services, and number of employees. The article also mentions the inclusion of L3Harris’ surveillance joint venture and the payment structure of the deal. The statement from L3Harris Chief Executive Christopher Kubasik about using the proceeds to pay down debt is also included. Overall, the article presents clear and verifiable information without any apparent bias or misleading elements.
Noise Level: 8
Noise Justification: The article provides a brief overview of the sale of L3Harris Technologies’ Commercial Aviation Solutions business to private-equity firm TJC. However, it lacks in-depth analysis, evidence, and actionable insights. The article does not explore the long-term trends or consequences of the sale, nor does it hold powerful people accountable. It also does not provide scientific rigor or intellectual honesty. Overall, the article contains mostly surface-level information without providing much value or depth.
Financial Relevance: Yes
Financial Markets Impacted: The sale of L3Harris Technologies’ Commercial Aviation Solutions business to private-equity firm TJC for up to $800 million may impact the financial markets and companies involved in the aviation industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses a financial transaction involving the sale of a business, which is relevant to financial topics. However, there is no mention of any extreme event.
Public Companies: L3Harris Technologies (Unknown)
Private Companies: TJC
Key People: Will Feuer (Unknown), Christopher Kubasik (Chief Executive)

Reported publicly: www.marketwatch.com