M&A Deal Summary

CAE Acquires L3 Harris Technologies - Military Training Business

On March 1, 2021, CAE acquired defense company L3 Harris Technologies - Military Training Business from L3Harris for 1.1B USD

Acquisition Highlights
  • This is CAE’s 3rd transaction in the Defense sector.
  • This is CAE’s largest (disclosed) transaction.
  • This is CAE’s 5th transaction in the United States.
  • This is CAE’s 3rd transaction in Florida.

M&A Deal Summary

Date 2021-03-01
Target L3 Harris Technologies - Military Training Business
Sector Defense
Buyer(s) CAE
Sellers(s) L3Harris
Deal Type Divestiture
Deal Value 1.1B USD

Target

L3 Harris Technologies - Military Training Business

Tampa, Florida, United States
L3 Harris Technologies' Military Training Business provides military training solutions; Doss Aviation is the provider of initial flight training to the United States Air Force (USAF); and AMI is a design and manufacturing facility for simulator hardware.

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Buyer(S) 1

Buyer

CAE

Saint-Laurent, Quebec, Canada

website


Category Company
Founded 1947
Sector Defense
Employees10,000
Revenue 3.0B CAD (2021)
DESCRIPTION

CAE engages in modeling, simulation, and training for civil aviation and defense. CAE offers civil aviation, military, and helicopter training services in more than 45 locations worldwide and trains approximately 100,000 crewmembers yearly. In addition, the CAE Oxford Aviation Academy offers training to aspiring pilot cadets in 11 CAE-operated flight. CAE was founded in 1947 and is based in Saint-Laurent, Quebec.


DEAL STATS #
Overall 10 of 12
Sector (Defense) 3 of 3
Type (Divestiture) 3 of 4
State (Florida) 3 of 4
Country (United States) 5 of 7
Year (2021) 1 of 3
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-22 Merlot Aero

Auckland, New Zealand

Merlot Aero Ltd. is a civil aviation crew management and optimization software company. Merlot Aero is based in Auckland, New Zealand.

Buy $25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-31 SkyWarrior

Pensacola, Florida, United States

SkyWarrior provides a range of military and civil flight training programs. The company provides flight training ranging from a private pilot license to multi-engine airline transport pilot (ATP) certification. SkyWarrior also specializes in training military helicopter pilots transitioning to airline pilots as part of regional airline Rotor Transition Programs. It operates a fleet that includes Cessna 172, Piper PA-44, and Cirrus SR22 aircraft. SkyWarrior is based in Pensacola, Florida.

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 16 of 22
Sector (Defense) 1 of 1
Type (Divestiture) 15 of 21
State (Florida) 4 of 7
Country (United States) 16 of 22
Year (2021) 2 of 5
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 L3 Harris Technologies - Combat Propulsion Systems Business and Magnet-Motors

Melbourne, Florida, United States

L3 Harris Technologies' Combat Propulsion Systems Business is a supplier of transmissions and engines in the U.S. and international armored vehicle market. Magnet-Motors is involved in the development and design of high-performance electric power supplies and hybrid drive systems for military applications.

Sell $400M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Stellant

Torrance, California, United States

Stellant is a provider of RF amplification products for the space, electronic warfare, radar, medical and industrial end markets. The Company designs and assembles traveling wave tubes (TWTs), nano microwave power modules, and other related subsystems, and is a provider of space-qualified TWTs. Stellant is based in Torrance, California.

Sell -