M&A Deal Summary

Albany International Acquires Harris - Composite Aero-Structures division

On February 29, 2016, Albany International acquired aerospace company Harris - Composite Aero-Structures division from L3Harris for 210M USD

Acquisition Highlights
  • This is Albany International’s 1st transaction in the Aerospace sector.
  • This is Albany International’s largest (disclosed) transaction.
  • This is Albany International’s 1st transaction in the United States.

M&A Deal Summary
Date 2016-02-29
Target Harris - Composite Aero-Structures division
Sector Aerospace
Buyer(s) Albany International
Sellers(s) L3Harris
Deal Type Divestiture
Deal Value 210M USD

Target

Harris - Composite Aero-Structures division

United States
Harris Corp. - Composite Aero-Structures division is a provider of advanced composite products primarily for airframe applications.

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Buyer(S) 1

Buyer

Albany International

Rochester, New Hampshire, United States

website

Category Company
Founded 1895
Sector Apparel/Textiles
Employees4,100
Revenue 1.0B USD (2022)
DESCRIPTION

Albany International is an advanced textiles and materials processing company with two core businesses. Machine Clothing is a producer of custom-designed fabrics and belts essential to production in the paper, nonwovens, and other process industries. Albany International was founded in 1895 and is based in Rochester, New York.

DEAL STATS #
Overall 1 of 3
Sector (Aerospace) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-11 Albany Door Systems

Sierning, Austria

Albany Door Systems GmbH is a providers in high-speed industrial doors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 CirComp

Kaiserslautern, Germany

CirComp GmbH is a developer and manufacturer of high-performance composite components for aerospace and other demanding industrial applications. CirComp GmbH was founded in 2009 and is based in Kaiserslautern, Germany.

Buy -

Seller(S) 1

SELLER

L3Harris

Melbourne, Florida, United States

website

Category Company
Founded 1895
Sector Defense
Employees47,000
Revenue 19.4B USD (2023)
DESCRIPTION
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.

L3 Harris is a producer of communications products, systems and services for global markets, including RF communications, integrated network solutions and government communications systems. L3Harris Technologies was founded in 1895 and is based in Melbourne, Florida.

DEAL STATS #
Overall 9 of 22
Sector (Aerospace) 1 of 2
Type (Divestiture) 8 of 21
Country (United States) 9 of 22
Year (2016) 1 of 2
Size (of disclosed) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-16 Harris Corp - Healthcare Solutions Business

United States

Harris Corp - Healthcare Solutions Business is a clinical systems integration provider.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 Harris CapRock Communications

Houston, Texas, United States

Harris CapRock Communications, Inc. is a provider of satellite and terrestrial communication solutions for primarily the maritime and energy markets.

Sell $425M
Mergr

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